Sajith Premadasa stresses the importance of benevolent capitalism

Sajith Premadasa stresses the importance of benevolent capitalism

Written by Staff Writer

23 Aug, 2018 | 10:33 am

Colombo (News 1st) – Minister Sajith Premadasa addressing the National Sales Congress Awards Ceremony in Colombo on Tuesday (August 21) stated that a just and fair society can only be established through structures and procedures that are based on capitalism with a little bit of compassion.

The Deputy Leader of the UNP states that “whilst success is laudable memorable and scintillating one has to have the courage and the backbone to turn back and pay attention to the rest of the society who have been left out”.

The minister stated that it is a universally accepted truth that the free market capitalistic approach is the best methodology and mechanism to create wealth, however, the minister also stressed on the importance of being conscious of the externalities and social costs that are by-products of the system.

Sajith Premadasa believes that Government and corporate sector benevolence is of utmost importance to redress the grievances of the society and to alleviate the imperfections and anomalies which are the negative by-products of this free market system.

He concluded stating that full blown thoroughbred capitalism is not the order of the day. A just and fair society can only be established through systems structures and procedures that are based on benevolent capitalism.

 

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