We have a system of checks and balances to separate the legislative function of imposing taxes and enacting expenditures from the executive function of collecting taxes and administering expenditure programs and from the judicial function of mediating disputes and interpreting the law.
What it amounts to is an assertion that those who favor the taxes and expenditures in question have failed to persuade a majority of their fellow citizens to be of like mind and that they are seeking to attain by undemocratic procedures what they cannot attain by democratic procedures.
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Aside from the question of factI share Adam Smith's skepticism about the benefits that can be expected from "those who affected to trade for the public good"this argument must be rejected on grounds of principle.
That would be to call on them to exercise a "social responsibility"!
If the union officials try to enforce wage restraint, the consequence is likely to be wildcat strikes, rank-and-file revolts and the emergence of strong competitors for their jobs.
This may gain them kudos in the short run.
(Either the present ones or those who take over when his actions in the name of social responsibility have reduced the corporation's profits and the price of its stock.) His customers and his employees can desert him for other producers and employers less scrupulous in exercising their social responsibilities.
Unfortunately, unanimity is not always feasible.
Even if he could answer these questions, how much cost is he justified in imposing on his stockholders, customers and employees for this social purpose?
When Corporate Social Responsibility Backfires: Theory …
Of course, in practice the doctrine of social responsibility is frequently a cloak for actions that are justified on other grounds rather than a reason for those actions.
SPOILER: college is crazy-expensive
On the grounds of consequences, can the corporate executive in fact discharge his alleged "social responsibilities?" On the other hand, suppose he could get away with spending the stockholders' or customers' or employees' money.
Supplier Responsibility - Apple
To illustrate, it may well be in the long run interest of a corporation that is a major employer in a small community to devote resources to providing amenities to that community or to improving its government.