The Moral Justification of Capitalism Essay Example | Topics and Well Written Essays - 6500 words

The Moral Justification of Capitalism - Essay Example A peaceable community in that wisdom recognizes property rights; indeed, a property right is nothing but a right to go on with action involving the thing owned, on ones own provisos and standards, unless and until the user employs it to abuse the rights of others. Once we have these ready, we do not call for the discourses on tribal loyalty, custom, legislation, theories on what is moral or not and the like. Indeed, all those discourses and theories involve major costs and key liabilities to conflict. The essence of this paper is to give a description of the prevailing attitudes toward capitalism and the challenge to learn why those viewpoints are all completely erroneous. The body of this presentation will articulate some illusory claims to the contrary. The demand to look into the moral justification of capitalism is set on the prevailing attitudes that critics have drawn and the belief that the system is completely wrong and it has caused massive destruction in the economic and political realm. These misconceptions based on superstitions and stereotypes cause those without intellectual bravery to falter on their standpoints and beliefs in support of capitalism. The argument floated by critics of capitalism is not watertight. Reisman asserts that the profit motive, which in time has become the sole cause of starvation wages, drives capitalism. The critic’s further claim is that capitalism is the root cause of child labor, inflation and depressions caused by indiscriminate depletion of the resources of the planet. A further argument is that Capitalism is akin to imperialism and it is responsible for the unending wars, racism and tribalism. What is more, the enemies of capitalism blatantly challenge saving, a major attribute of capitalism, claiming it is a form of hoarding. When people compete for resources and profits, they use the laws governing competition and free market; laws that they say belong to the jungle.