TheGilded Age in the history of United States history is regarded as aperiod of severe social troubles veiled by thin gold decoration.According to Noble, (1977) Gilded regime created social and politicalproblems in American history. The regime was struck by what we canrefer as rampant greed among politicians who wanted to siphongovernment resource to benefit them. It also created corruptionpermeating national politics both local and at the national level inthat, politics was dominated by a powerful organization thatexchanged jobs and contracts for political loyalty. Thirdly, alifestyle of citizen dramatically changed. Poor people continued tosuffer as those top enjoyed hence, resulted in poverty andinequality. The regime also had a positive impact in that it resultedin a growth of industries, road lines and telephone boostingentrepreneurship in the country and creating opportunities for theentrepreneur and cheap goods for consumers (Noble, 1977).
Fromthe definition of conscious capitalism is whereby people usemarketing strategy, in which they seek to appear to have theawareness of the effect of their actions and to implement practicesthat benefit the environment and human beings. Some of the advantagesof conscious capitalism are it brings friendship rather than fear,self-management and self-policing within teams of employees, equallyworthy to stakeholders as opposed to shareholders hence, avoidingdehumanizing customers for the sake of increasing profit. It alsoincreases innovation and trust in that employee’s morale, andengagement increased. Despite, it has more advantages consciouscapitalism also has its disadvantages. They include may take moretime, team members may not have the collaborative skills needed toreach agreement, and finally people may interpret the leader’schoice of conscious capitalism as a weakness (Noble, 1977).
Fromthe above-listed advantages and the situation of Gilded Age, it isevident that conscious capitalism is the best solution. The economywill grow rapidly if the coordination between the stakeholders andshareholders works together. It also eliminated corruption since itadvocate for equality. It also results in better financialperformance in the government hence, proves as the best solution(Noble, 1977).
Theethical reasoning used to in my conclusion was intuition ethic. Sinceit focuses on what is good and right which are understood by an innermoral sense basing on the character developed and felt by anyinstitution. The opinions were also carried with facts. For instance,conscious capitalism has been practiced in many business institutionand the outcome have proved its meaningful impact when comes toeconomy growth, the relationship between workers and employers(Noble, 1977).
Theintuition ethics is more preferred method than other modes in thatwhen an action is morally right, and only if, the person judging theaction approves of it. For instance, conscious capitalism will berecommended as the solution only if it has proved. Ethical maximsalso form that advocated by conscious capitalism compared to othermethods like the golden rule that focuses on “unto others as youwould have them do unto you.”
Anothermode of social conventionalist ethic, the doctrine of the man andproportionality ethics does not give evidence. Hence, the intuitionis seen most preferred moral reasoning method to the situation. Inconclusion, for the better growth of an economy, consciouscapitalism, when used well, gives out the best output (Noble, 1977).
Noble,D. (1977).Americaby design.New York: Knopf.