Monday, February 9, 2015

The Morality of Capitalism: Liberty, Honesty, and Humility

Richard Ebeling emails:

Dear Bob,

I have a new article on the news and commentary website, "EpicTimes," on, "The Morality of Capitalism: Liberty, Honesty, and Humility."

The perennial target of attack in much of the media and in many movies is the businessman, and through him the capitalist system. The private enterpriser and the market system are made the enemy of all that is good, right, and justice.

Yet, in all of history there has been no more moral and just and good system of human association and cooperation as the free market, capitalist system.

In opposition to all forms of political and economic collectivism, free market capitalism is based on the idea and ideal of individual liberty, grounded on the philosophical premise of the individual's right to his life, liberty and honestly acquired property. That no man may be compelled to live for another, nor be forced into any exchange or relationship without his voluntary consent for mutual advantage.

This creates for a society of honest, respectful, tolerant men, since unless such attributes are lived by and practiced no man, in the market economy, will succeed in achieving his own ends and goals, since the market requires the consent and willful participation of others, who have the right to say, "No," if they find the offer and the behavior of another to be unacceptable and/or rude and untrustworthy.

Furthermore, it makes it necessary for all participants in the market to accept that no man can claim the knowledge, wisdom and ability to assert the right to plan, regulate or direct by force the lives of others. The very idea of free market competition is based on the presumption that only through the peaceful rivalry of the marketplace can we discover who, indeed, can come up with the new and better idea that will be profitable in the politically unrestricted arena of trade.

A social and economic system that respects the right of each human being to be free to guide his own life as he chooses, that requires of men respectful and courteous conduct toward their fellow human beings, and which fosters a modesty of belief against any presumption against paternalism is surely the most ethical system of social cooperation ever stumbled upon my mankind.


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