Title:
Wealth Creation and Its Externalities: Evaluating Economic Growth and Corporate Social Responsibility

Authors:
Zhikang Rong, Dr. Kelly Zering, USA

Abstract:

The 4th industrial revolution has introduced technologies like interconnectivity, machine learning, and real-time big data analytics that improve operations and business efficiency. This paper examines how these advancements have led to a concentration of wealth, specifically among the top 1%, and investigates whether this wealth provides value to society. Through analyzing impacts on employment, productivity, supply-demand dynamics, and potential externalities, it is shown that successful businesspeople, by enhancing productivity and creating jobs, contribute positively to long-term economic growth. Additionally, externalities such as environmental degradation are managed by social entrepreneurship and government policies.

DOI: https://doi.org/10.51505/IJEBMR.2024.81103