The-Morality-of-Capitalism-PDF

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Global Capitalism and JusticeBy June ArungaIn this essay, June Arunga calls for free-market capitalism in Africaand confronts those who oppose allowing Africans to engage in theworld economy through freedom of trade. Her view is systematicallysupportive of free trade, as she criticizes those who support designated“trade zones” that offer special privileges (and sometimes violationsof the property rights of local people) to foreign investors or privilegedlocal elites and deny others freedom to trade or invest on anequal basis. She calls for respect for the property rights of Africanpeople and for free-market capitalism undistorted by privileges andmonopoly powers.June Arunga is a businesswoman and film producer from Kenya.She is the founder and CEO of Open Quest Media LLC and hasworked with several telecom ventures in Africa. She made two BBCdocumentaries about Africa, The Devil’s Footpath, which documentsher six-week, 5,000-mile trek from Cairo to Cape Town,and Who’s to Blame?, which features a debate/dialogue betweenArunga and former Ghanaian president Jerry Rawlings. She writesfor AfricanLiberty.org and co-authored The Cell Phone Revolutionin Kenya. Arunga received her law degree from the University ofBuckingham in the United Kingdom.My experience is that the great bulk—maybe 90 percent—ofdisagreements stem from lack of information on one side or theother. That’s especially important when people move from onecultural space to another. We are seeing a great surge of trade inAfrica, among Africans, after a long period of isolation from eachother due to protectionism, nationalism, and misunderstanding.I think we should celebrate that growth of trade. Some fear theincrease of trade; I think that they need more information.Globalization is happening and I think we should welcome it.It has created transfers of skills, access to technology from aroundthe world, and much more. However, many have been kept out.103
The question is why? I met the Swedish economist Johan Norberg,author of the eye-opening book In Defense of Global Capitalism,in 2002, and I was struck by how he dealt with information. Hedid not simply dismiss the opponents of free trade. Rather, helistened to them, considered their viewpoints, and verified theirinformation. His interest in factual information is what initiallyled him to embrace capitalism.I was also struck by how he took the perspective of the peoplemost affected: the poor. Norberg has traveled the world askingquestions. He doesn’t tell people what they ought to think. He asksthem what they think. By asking the poor who have been givenopportunities to engage in trade—either as traders or merchantsor as employees of enterprises involved in international trade—herevealed the facts that the official pontificators missed. Did thatjob at a new factory make your life better or worse? Did your firstcell phone make your life better or worse? Has your income goneup or down? How do you travel: by foot, by bicycle, by motorbike,by car? Do you prefer to ride a motorbike or to walk? Norberginsists on looking at the facts on the ground. He asks the peopleinvolved what they think and whether free trade has improvedtheir lives. He wants to hear individual perspectives.We should ask what our governments are doing to us, not justfor us. Our own governments are hurting us: they steal from us,they stop us from trading, and they keep the poor down. Localinvestors are not allowed to compete because of the lack of therule of law in low-income countries. Maybe that’s why they’relow-income countries—because the people are not respected bytheir own governments.Many governments of poor countries are focused on attracting“foreign investors,” but they don’t let their own people into themarket. Opening up the market and competition to local peopleis not on their agendas. Local people have the insight, the understanding,and the “local knowledge.” But our own governmentsin Africa keep their own people out of the market in favor offoreign or local special interest groups.For example, heavy restrictions that stifle local competition inservices, such as banking and water provision, ignore the abilitiesof our own people to use their local knowledge of technology,104
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The Morality of CapitalismWhat Your
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ContentsIntroduction: The Morality
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Introduction: The Morality of Capit
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China, Morocco, the United States,
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in a friendly sense.” 9 The word
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Marx saw the “bourgeoisie” as i
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usinesses rising and falling more r
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and one an economist, and an interv
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Section IThe Virtues ofEntrepreneur
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is why I was mentioning the sophomo
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our society are motivated by purpos
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promote microfinance in poor countr
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ownership of wealth, was highly str
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in the world for a couple of hundre
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without a strong business sector th
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lightning rod and Watt’s steam en
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Competition and CooperationBy David
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advocates of “back to nature”
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that the associations within civil
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For-Profit Medicine and the Compass
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Profit and CompassionThat’s too s
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The Paradox of MoralityBy Mao Yushi
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after assessing the situation, sett
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efrigerators and color TVs, are onl
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epair trade are crowded out by the
Page 56 and 57: person, followed the principle of e
Page 58 and 59: if in return for A taking the bigge
Page 60 and 61: The Moral Logic of Equality and Ine
Page 62 and 63: equality in exchange is economicall
Page 64 and 65: eliminate or to establish inequalit
Page 66 and 67: earned by the poorest 10% of the po
Page 68 and 69: Adam Smith and the Myth of GreedBy
Page 70 and 71: them to lobby the state to create c
Page 72 and 73: strangers, but when we haggle for t
Page 74 and 75: Ayn Rand and Capitalism: The Moral
Page 76 and 77: the welfare state, which redistribu
Page 78 and 79: Welfarism: The Unchosen ObligationT
Page 80 and 81: Egalitarianism: “Fair” Distribu
Page 82 and 83: A worker is hired because of the an
Page 84 and 85: To live by reason we must accept in
Page 86 and 87: Economic outcomes in the market—t
Page 88: is a social asset is incompatible w
Page 92 and 93: The Market Economy and the Distribu
Page 94 and 95: no unfavorable, economic results. O
Page 96 and 97: owner, actual or potential, reflect
Page 98 and 99: losses prompted by the chance of, o
Page 100 and 101: We are not saying, of course, that
Page 102 and 103: well-being reflects a potentially c
Page 104: discrepancies. The difference was c
Page 110 and 111: preferences, and infrastructure. It
Page 112 and 113: Human Betterment through Globalizat
Page 114 and 115: any particular sophistication. Afte
Page 116 and 117: These young people are returning be
Page 118 and 119: etterment through exchange and the
Page 120 and 121: of diverse cultures. In this manner
Page 122 and 123: primitive magical-religious communi
Page 124 and 125: to censure, repression, and margina
Page 126 and 127: That is why the best defense of our
Page 128 and 129: A Little Further Reading for Fun an
Page 130 and 131: Dr. Tom G. Palmer is executive vice
Page 132 and 133: 14 Karl Marx and Friedrich Engels,
Page 134 and 135: Index of Proper Names(Chinese names
Page 139 and 140: The Pierre F. and Enid Goodrich Fou
Page 141 and 142: Students For LibertyA Free Academy,
Page 143 and 144: Additional Resources for LibertyThe
Page 145: “We need to change the narrative
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