"The moral justification of capitalism lies in the fact that it is the only system

[WHO IS SERAFIN]

consonant with man's rational nature, that it protects man's survival qua man, and that its ruling principle is: justice."

In my business ethics course we always discuss the social context of business, particularly the implications of different social systems: the prevailing mixed economy, socialism, and capitalism. Initially, students do not have a clear understanding what capitalism means. They think that even some degree of freedom typical in the markets in North America, Europe, and many Asian countries qualifies as capitalism. However, they are wrong. Some degree of freedom does not qualify as capitalism, which is “a social system based on the recognition of individual rights (including property rights) in which all property is privately owned.” Such a system does not exist anywhere in the world today, although some mixed economies, such as Hong Kong and some other Asian countries have a higher degree of economic freedom than the rest.

The mixed economy, a mixture of freedom and controls, or capitalism and socialism, is the dominant social system today because it is widely perceived to be “the best of both worlds:”

READ THE REST HERE
http://capitalismmagazine.com/2015/03/capitalism-benefits-everyone/

 

[Webster]

*dusts off thread* So long as (a) someone's there to make sure the rules are enforced in as fair/equitable manner as possible and (b) everyone, from the highest to the lowest, have as equal a chance as possible at the proverbial brass ring.

Otherwise, its' all hokum bull what "Capitalism Magazine" wrote above.

 

[WHO IS SERAFIN]

*dusts off thread* So long as (a) someone's there to make sure the rules are enforced in as fair/equitable manner as possible and (b) everyone, from the highest to the lowest, have as equal a chance as possible at the proverbial brass ring.

Otherwise, its' all hokum bull what "Capitalism Magazine" wrote above.

It’s more about raising ethical society, you don’t do that no form of economy or government will work

 

[Webster]

It’s more about raising ethical society

And part of that involves (a) making sure there are some rules in place and (b) ensuring everyone has an equal shot at success.

 

[WHO IS SERAFIN]

And part of that involves (a) making sure there are some rules in place and (b) ensuring everyone has an equal shot at success.

You can put rules all you want but it’s got to start with decent people.