Dialogues of Naguib Mahfouz:

The social role of capital

By Mohamed Salmawy

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Naguib Mahfouz was a firm believer in the private sector and its role in society. He used to say that development could not be accomplished by the public sector alone, for once the public sector becomes the only player around, it starts acting like a monopoly, abusing its power with little regard for the public interest. "But the private sector we see today seems only interested in personal gain, without consideration for the public good, and without much oversight either. This is why we see products in the market that are both substandard and overpriced," I said.

"What we see today is a private sector coming back after a long hiatus. It is natural at the beginning for businessmen to focus on profit alone. But as the private sector matures, it develops a social conscience, at which point it starts working for the public good, gets involved in social care, and sponsors the arts and culture. Eventually, it can end up supporting such activities more than governments do. Even in education and training there are cases where private business supports universities and scientific research. It is common for major companies to set up centres for training and education to improve the working skills of the population.

"Let's consider what's going on in America. There, the funding of cultural and artistic activities comes from major corporations, not the government. Business supports culture with hundreds of millions of dollars.

"We have to remind business of its role in society until such time that it becomes aware of what it can do in various aspects of public life, over and above money making. We no longer have the luxury of choosing from among several economic systems. The socialist system has disappeared and all societies are now moving towards the free market economy. But private business should become aware of its social duty. And our businessmen should know that they have a certain responsibility in social and cultural life. Business has undertaken social tasks throughout history -- this is something our businessmen should keep in mind.

"I was privileged to win many literary awards in my life. But had I not as a young writer won a certain prize, I probably wouldn't have continued to write. Qut Al-Qulub Al-Demerdishiyah, who was a rich woman, sponsored my prize. It was her prize that made me see that what I wrote meant something for others. That kept me going," Mahfouz said.