The-Morality-of-Capitalism-PDF

Recommendations

Info

Mackey: You’ve almost answered the question just by being ableto list those things. Capitalism is ultimately people cooperatingtogether to create value for other people, as well as for themselves.That’s what capitalism is. There’s of course an element of selfinterestin it, as well. The key is being able to create value throughcooperation and doing so for both yourself and for others. Andthat creates diversity of productive effort, because human beingsare very diverse in their wants and desires. Capitalism, cooperatingin the market, aims to satisfy those wants and desires. Sothat creates tremendous space for individuality. If you live inan authoritarian society some special interest group, whether areligious hierarchy or university intellectuals or some group offanatics who think that they know what’s best for everyone, canforce their values on everyone else. They get to dictate to others.In a capitalistic society you have far more space for individuality.There’s space for billions of flowers to grow and flourish in acapitalistic society, simply because human flourishing is ultimatelythe goal or end of capitalism, its greatest creation.Palmer: What’s your vision of a just, enterprising, prosperousfuture?Mackey: What I’d like to see happen is first that the defendersof capitalism start to understand that the strategy they’ve beenusing has really played into the hands of their opponents. They’veconceded the moral high ground and they’ve allowed the enemiesof capitalism to paint it as an exploitative, greedy, selfish systemthat creates inequality, exploits workers, defrauds consumers, andis wrecking the environment while eroding communities. Thedefenders don’t know how to respond to that because they’ve alreadyconceded major ground to the critics of capitalism. Instead,they need to shift away from their obsession with self-interestand begin to see the value that capitalism creates, not merelyfor investors—although, of course, it does that, but the value itcreates for all of the people who trade with business: it createsvalue for customers; it creates value for workers; it creates valuefor suppliers; it creates value for the society as a whole; it createsvalue for governments. I mean, where would our government be25
without a strong business sector that creates jobs and incomeand wealth that they can then tax? Not that I’m always thrilledwith that, mind you.Capitalism is a source of value. It’s the most amazing vehiclefor social cooperation that has ever existed. And that’s the storywe need to tell. We need to change the narrative. From an ethicalstandpoint, we need to change the narrative of capitalism, toshow that it’s about creating shared value, not for the few, but foreveryone. If people could see that the way I see it, people wouldlove capitalism in the way I love it.Palmer: Thank you for your time.Mackey: It’s my pleasure, Tom.26
Page 2 and 3: The Morality of CapitalismWhat Your
Page 4 and 5: ContentsIntroduction: The Morality
Page 6 and 7: Introduction: The Morality of Capit
Page 8 and 9: China, Morocco, the United States,
Page 10 and 11: in a friendly sense.” 9 The word
Page 12 and 13: Marx saw the “bourgeoisie” as i
Page 14 and 15: usinesses rising and falling more r
Page 16 and 17: and one an economist, and an interv
Page 18: Section IThe Virtues ofEntrepreneur
Page 21 and 22: is why I was mentioning the sophomo
Page 23 and 24: our society are motivated by purpos
Page 25 and 26: promote microfinance in poor countr
Page 27 and 28: ownership of wealth, was highly str
Page 29: in the world for a couple of hundre
Page 34 and 35: lightning rod and Watt’s steam en
Page 36 and 37: Competition and CooperationBy David
Page 38 and 39: advocates of “back to nature”
Page 40 and 41: that the associations within civil
Page 42 and 43: For-Profit Medicine and the Compass
Page 44: Profit and CompassionThat’s too s
Page 48 and 49: The Paradox of MoralityBy Mao Yushi
Page 50 and 51: after assessing the situation, sett
Page 52 and 53: efrigerators and color TVs, are onl
Page 54 and 55: 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 108 and 109:
Global Capitalism and JusticeBy Jun
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
show all

The-Morality-of-Capitalism-PDF

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?