The analysis of advantages and disadvantages to society of successful businesses and businessmen

Abstract

 Successful businesses and businessmen have both positive and negative effects on society. On the one hand, successful companies can generate short-term economic growth by increasing incomes and profits to raise nominal wages and living standards. They can also promote potential investment inflows and reinvest their money into research and development that could contribute to long-term economic growth. Besides, successful businesses can reduce crime rates and enhance social cohesion by employing a large workforce. On the other hand, monopolistic structures, government lobbying by big corporations, and faster growth rates of old capital exacerbate economic inequality. Moreover, big businesses will reduce environmental sustainability by damaging the environment. This paper believes that governments are vital in maximizing benefits and minimizing consequences from the success of companies and businesspeople.