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The received wisdom is that business depends on the profit motive, that capitalism depends on exploitation and that altruism and commerce don't mix. Anyone old enough to have watched the death of communism and the rise and rise of consumerism might conclude that received wisdom, though dull, is rarely wrong.

Of course huge profits are not all bad. Philanthropy and wealth have gone hand in hand since the dawn of civilisation. The merchants who exploited the trade routes of East and West Indies used part of their vast fortunes to endow art, architecture and public works. The Romans invaded most of their neighbours, killing many and subjugating more, but they also built roads, installed sanitation and spread education and learning. They even provided early examples of community healthcare facilities -- the evidence is still on view in the city of Bath.

Victorian industrialists may have been rapacious capitalists but they also endowed schools, hospitals and civic institutions.

The world's most successful company, Microsoft, is known for its uncompromising approach. It has been said that doing business with Bill Gates is like getting into a knife fight. For all that, the Bill and Melinda Gates Foundation is one of the world's biggest privately administered charity institutions whose endowment of $35 billion funds global projects aimed at alleviating poverty and improving healthcare and education.

Cynics say that philanthropy and altrusim are not the same thing. They argue that those who give to good causes are motivated either by guilt or the desire for self-aggrandisement and reflected glory.

Social enterprise is an attempt to enjoy the social benefits of business philanthropy without the moral trade-offs. Where social benefit has been a by-product of enterprise, now it is the main product. In the social enterprise model, value is not to be found in the PE ratio or the P&L statement but in the good done by the enterprise in pursuit of a fairer society, a healthier population or a cleaner, greener and more sustainable environment.

If all this sounds hopelessly idealistic, consider the facts. According to government estimates, there are already 55,000 social enterprises in the UK, with a combined turnover of £27 billion.

Consider, too, the current financial crisis. It may not be as terminal a state of affairs as some pundits have claimed but whether it's the death of capitalism or just a nasty bout of 'flu, the severity of the economic downturn may be creating the perfect conditions for social enterprise to flourish.

Find out more about social enterprise and healthcare here. See also this News story for details about a forthcoming event from the Social Enterprise Network.

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