Sunday, May 01, 2011

Considerations For & Against Capitalism

James Gray offers some Considerations For & Against Capitalism:
Capitalism is a type of economic system that emphasizes the importance public property including at least some private ownership of the “means of production” (resources and machines). ...

These are arguments for capitalism that don’t sufficiently prove that capitalism is morally justified once and for all, but they are considerations in favor of capitalism [:] ... (1) The natural right to property and (2) the invisible hand. ...
The author discusses four challenges to capitalism:
Capitalism leads to severe economic inequality. ... Capitalism is based on a false conception of human nature. ... Three problems with competition. ... Capitalism leads to exploitation and alienation.
A pretty good analysis from a fairly neutral perspective.

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