Adam smith tax maxims-profit and non profit entities


Problem:

It has been said that private business people do not do enough for the societies they live in. After graduation, some students choose to go into the public, non-profit sector instead of the private business sector because they want to help others. However, business people claim that they actually do more to help others than non-profit groups do because they provide jobs for people rather than just giving them charity, which often precludes them from searching for work. Furthermore, they believe that businesses create all the wealth that nonprofit groups then distribute.

Can you find some middle ground in this debate that would show that both business people and those who work for non-profit organizations contribute to society and need to work together more closely to help people? Can you use the concepts of Adam Smith to help illustrate your position?

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Accounting Basics: Adam smith tax maxims-profit and non profit entities
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