The-Morality-of-Capitalism-PDF

of machinery make it possible to employ people who otherwisecould not produce enough to support themselves. Computersand communications equipment, for example, have now made itpossible for severely disabled people to work from their homes.As for those who simply cannot work, free societies have alwaysprovided numerous forms of private aid and philanthropy outsidethe market: charitable organizations, benevolent societies, andthe like. In this regard, let us be clear that there is no contradictionbetween egoism and charity. In light of the many benefitswe receive from dealing with others, it is natural to regard ourfellow humans in a spirit of general benevolence, to sympathizewith their misfortunes, and to give aid when it does not requirea sacrifice of our own interests. But there are major differencesbetween an egoist and an altruist conception of charity.For an altruist, generosity to others is an ethical primary, and itshould be carried to the point of sacrifice, on the principle “giveuntil it hurts.” It is a moral duty to give, regardless of any othervalues one has, and the recipient has a right to it. For an egoist,generosity is one among many means of pursuing our values,including the value that we place on the well-being of others.It should be done in the context of one’s other values, on theprinciple “give when it helps.” It is not a duty, nor do the recipientshave a right to it. An altruist tends to regard generosity asan expiation of guilt, on the assumption that there is somethingsinful or suspicious about being able, successful, productive, orwealthy. An egoist regards those same traits as virtues and seesgenerosity as an expression of pride in them.The Fourth RevolutionI said at the outset that capitalism was the result of three revolutions,each of them a radical break with the past. The politicalrevolution established the primacy of individual rights and theprinciple that government is man’s servant, not his master. Theeconomic revolution brought an understanding of markets. TheIndustrial Revolution radically expanded the application of intelligenceto the process of production. But mankind never brokewith its ethical past. The ethical principle that individual ability82