1.

I think the quotation implies that the law says that it is not the company’s fault if
they violate a social damage and harm the society. They are not accountable if ever they fail
on doing their responsibilities socially and rather than prioritizing their social
responsibilities companies must value first their economic responsibilities. What they are
prioritizing is the interest of their companies and their shareholders. Outside of their
interest, if there may be problem occur, the company is not liable for any problem or
circumstances. They are not required to take any actions for any issues that may be going. I
also think that the reason behind this is that it's presumably because they don't want to
spend money on things that aren't related to them, like societal compensations. This issue
is actually rampant in today’s society because some company are paying some government
official so that they will not be put in jail because of not responding to their social
responsibilities. Some companies just want the benefit for themselves and not their society.
I think the government only focuses on profitability and economic growth or stability even
if the society can be largely affected.

2. I think it means that with businesses who think their only responsibility is to
maximize profits, and that it is up to regulators to put rules in place to reduce collateral
damage. Some companies are not afraid to get to jail because they cannot be in jail. They
can pay the government for what they have done and still continue their businesses. Even if
the companies have made a mistakes and affected the environment, by the fines and
penalties paid by them, the government isn't going to make them pay by getting into jail.
Regulations are at best blunt instruments, and regulators are unable to keep up with the
rapid changes in society and technology. Therefore, egotistical corporate behavior will
result in a regulatory response that needs to go through several review cycles to be perfect.
Even if they have brought destruction to then environment or society, there's no action that
has been made to correct the cycle or to stop the cycle itself. It is far preferable for
businesses to advance the common good by taking proactive measures to address any
unexpected consequences of their operations. Because population is still growing then
there is a need to supply needs by mass production, this is where the cycle will never end.
Even if the production will make the environment and society damaged, harmed, and
affected, some companies still operate because they have to fill the needs and also get the
profit they want. Especially in today's world that technologies are used in production and
some of it are affecting animals such as experiment in testing their products with animals.
The worker isn’t getting paid right and just accepting that fact because they also needed
that work. Even if their product costs much and their salary are small, they still work in the
company to also support their needs. And the mass production is needed because of the
growing population's needs too around our world.