The Importance Of Social Contract Theory

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Here, we are talking about social contract theory or we can say a topic which have been not so popular in accounting profession but also stands firmly and must needed an attention in business sector. Social contract theory is a contentious idea in the study of business morals, since extensive political issues are tied to it, to which many people disagree. People with a strong notion in the free enterprise model or laissez faire model of individualism argue that organisations benefit the general public by creating wealth, providing assistance and by developing job opportunities. This view indicates companies can prosper by focussing on making profits rather than on troublesome and subjective ethical concerns. It is hard to fabricate the effect that social contract theory has had, both within philosophy, and on the extensive culture (Azcentralcom, 2017). In 18th century Jean Jacques Rousseau, offers an explanation regarding social contract theory which says, humanity in nature’s state is not wretched as depicted by Hobbes but is happy and independent. However, society and its organisations have corrupted man 's better nature. "Man is born free but everywhere he is in chains!"For that fact, we know that government is with us to stay, however, government can only be constitutional when it mirrors the aggregate opinion, or general will, of the society(Academiaedu, 2017). Being one of the most predominant speculations within political and moral theory throughout the history of
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