Capitalism Is the most moral system. *Debate*

[Dspong]

Perhaps capitalism is superior to other economic systems (comparatively to socialism, communism etc) but to describe capitalism as simply moral, one would need to ignore some overarching issues.

I think when capitalism takes a cynical turning is when there is an absence of a *fair* free market and competition.

An example of capitalism at its finest is the eyeglass monopoly. 'Luxottica' an manufacturer makes eyeglass frames for:
Prada, Chanel, Dolce & Gabbana, Versace, Burberry,Ralph, Lauren, Tiffany, Bulgari, Vogue, Persol, Coach, DKNY, Rayban, Oakley, Sunglasses Hut, LensCrafters, Oliver Peoples, Pearle Vision, Target Optical, Sears Optical (and more)
It controls 80% of the major brands in the $28 billion global eyeglasses industry

Now, of course companies being able to control what price their goods are being sold, but it needs to be considered to what extent can this power have. This monopoly of a company, which giving consumers merely the illusion of choice, can charge people $400-500 for glasses which the glass, metal, and plastic for it cost $25-50

An example in which people can literally die because of capitalism is the predatory capitalistic approach to epipens.  A simple device that saves lives in the case of severe allergic reactions — costs $70 and the price to manufacture it costs a fraction. However as Mylan has bought the rights to epipens, it now cost $600 for a 2 pack.


These are only a few examples which have the same framework as other industries.

I personally believe that these and other essential goods should not financially cripple families, particularly those of low socioeconomic status



I want to make clear, in no way am I saying other forms of economic systems are better than capitalism. And I believe to term it as most moral or moral is hard to apply to capitalism.

I would to like to make it clear that these are all examples of crony capitalism and are in many cases illegal. Capitalism does not condone anti-competitive behaviour as it is counterintuitive to the ideology of investing and selling capital in a free market.

Capitalism is neither moral nor immoral it is neutral. All economic and political systems with the exception of fascism and dictatorships are theoretically neutral. It's how they are managed which applies "good" or "bad" to them.

Capitalism is fine as long as it's regulated so that it doesn't destroy resources or pay workers less than a living wage.

An example of "bad" capitalism would be American capitalism generally, i.e. capitalism controlling the hearth care sector, pharmacy etc. Banks gone crazy, wall street and so on.
Good capitalism (good-ish) can be seen through some of the public works efforts undertaken by companies like Google and Facebook.



Companies cannot be trusted to regulate themselves as they will in most cases do what is best for the stock-holders which is to achieve a higher profit margin, the issue with that is that this normally includes lay-offs and sending jobs off-shore where they can hire someone for like $1 a day. They will also raise prices when given tax cuts because why not? If the government did not regulate corporations there would be a lot of suffering on the part of the worker as safety restrictions would be eased, pay would be less, unions would be even more stigmatized than they are already (in America anyway). It would be a nightmare.

The question you have to ask yourself is that if capitalism was moral and it worked as intended (a different discussion I guess) why does trickle down economics fail every time it is tried?

The future of capitalism, a "healthy" capitalism is one that lets the free market operate but one that is balanced and restrained by reasonable measures to ensure that it does not cause damage, this included tax reform and in an American context updating the constitution to reflect the idea that "companies are people" in the eyes of the law (Citizen United) and as such they have an obligation to do what is right for society not only the stock-holders.

I agree for the most part except for two things.

1. “All economic and political systems with the exception of fascism and dictatorships”
I would disagree and say communism and anarchism is also inherently immoral.

2. “An example of "bad" capitalism would be American capitalism generally, i.e. capitalism controlling the hearth care sector, pharmacy etc. Banks gone crazy, wall street and so on”
This isn’t capitalism gone bad this is caused by government killing capitalism. Health care and pharmaceuticals have gone bad due to their socialisation.

Banks are a fine example of government interference and crony capitalism, the reasons these banks are so reckless is because the government bails them out whenever they go bankrupt (there is effectively no risk).

Finally, I’m not sure what the problem with wall street it? It is one of the biggest employers of American people.

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It couldn't be said better then from RenoDorvay. Capitalism and largely other economic/political systems are inherently morally neutral (as a theoretical concept). The morality aspect (morally good, morally bad) from these systems are dependent on how it is 'operated'.

If we were to consider Communism in regards to simply and only the ideology of a non-capitalist economy, where there is collective social ownership of industry, commerce, etc, as an ideal many would find it favourable, nevertheless morally neutral. However, I believe when it becomes 'morally bad' is how it is put into practice. Communism, particular in Russia, there was no material prosperity, real democracy for working people as well as greed empowered dicatorships, indoctrination, force obedience etc. And ultimately, it is the way it's regulated is where Communism and other political/economic systems becomes 'morally bad (or potentially morally good)'.
(Whether Communism could actually be put into practice is a different discussion)

This is the point I wanted to say, that capitalism, as a system, is difficult to be termed morally good nor morally bad





I would also like to state that the black and white fallacy, that something is only either morally good or morally bad and nothing more, should not be made. Morality is a spectrum.

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@RenoDorvay. Could you please explain what you are referring to when you say, "public works efforts" and how does this demonstrates good capitalism.

A. I would argue communism is inherently immoral because it punishes hard work.
B. If morality is a spectrum to what extent does it lie within the positive or negative side.