Corporate greed or an alternative economic model- A study on Purba (East) Medinipur District

Today one concept is very important which is Corporate Social Responsibility or CSR. With the CSR activities, corporate sector can be benefited to the society. Firms can be benefited from their CSR activities. But unfortunately corporate sector, some time, don't fulfill their social responsibility because of their greed and attraction towards profit and corruption. Corporate capitalism and inverted totalitarianism are terms used by the aforementioned activists and critics of capitalism to describe a capitalist marketplace – and society – characterized by the dominance of hierarchical, bureaucratic, large corporations, which are legally required to pursue profit without concern for the social welfare. Corporate capitalism has been criticized for the amount of power and influence corporations and large business interest groups have over government policy, including the policies of regulatory agencies and influencing political campaigns. Many social scientists have criticized corporations for failing to act in the interests of the people; they claim the existence of large corporations seems to circumvent the principles of democracy, which assumes equal power relations between all individuals in a society. To get rid from these problems which have been created by the corporate sector, we have to find an alternative way and which is Cooperative society PACS SHG. To establish and incorporate credit societies outside the procedures of the Companies Act, the colonial government, in 1904, enacted the first Cooperative Societies Act which applied to only those societies dedicated to cooperative credit. Societies were divided into rural and urban categories with the former vested with unlimited liability. This Act of 1904 was replaced by the Cooperative Societies Act, 1912, which governed all cooperative societies irrespective of their purpose, distinguished between them on the basis of their liability, required all agricultural societies to have unlimited liability and restricted the profits of their members.