Saturday, October 24, 2009

How is Capitalism Immoral?

Capitalism is immoral for quite a few reasons, not the least of which is the fact investment income is stolen from those who actually produce the wealth (via work, productivity, creativity). All wealth is produced. Investment income is merely purchased, producing zero wealth. The wealthier people are, in the U.S. for example, the larger the percentage of their income is derived from investment and not productivity. Thus it is stolen from those who worked to produce it.

Advocates of capitalism attempt to hide this by claiming wealth creation is not a zero-sum game, as if investment somehow magically produced wealth.

Another red herring is the idea workers enter the transaction voluntarily, but most people--in a purely capitalist arrangement--obviously would have no choice but to work to survive.

Another major reason is the fact that capitalism prioritizes production for the benefit of the wealthiest first, and the neediest last (again contributing to its ultimate unsustainability). Anyone initiating production (starting a business, etc.) will generate a product or service for those with the most wealth available (a market). It would be irrational under captitalism, to, for example, start a business feeding starving people who have no money.


Anonymous said...

I want to quote your post in my blog. It can?
And you et an account on Twitter?

Jonster said...

Your ideas about Capitalism can be easily debunked. I plan on doing that very soon. You'll have to rethink everything. Coming up...

ChristianEcon said...

"Easily debunked," yet you refrained from doing so. Not easy enough to fit in a comment?

Anonymous said...

Capitalism is not altruistic in nature. It is based on self interest. Production is prioritized for the consumer who values it the most, a simple demand and supply graph.

Workers have the choice to choose for whom they work. Thus making it a voluntary transaction. In a purely capitalist arrangement if a worker did not want to work for an employer, they could find another job, or produce what they needed on their own.

Many people abuse the work capitalism, thus giving it this bad reputation.

Not every capitalist is immoral.

Anonymous said...

It would be irrational under any economic thought to open a business to feed the poor who cannot pay for your services. How would your business survive? Would you be collecting subsidies from the government? Stealing money from those who earn a living and giving to those who cannot? I thought theft was immoral and against one of the commandments. :/

Anonymous said...

I appreciate your comments about capitalism. I'm glad to see a Christian Community taking the moral implications of capitalism seriously.

Capitalism is undeniably an immoral and unjust system.

ChristianEcon said...
This comment has been removed by the author.
ChristianEcon said...

"Workers have the choice to choose for whom they work. Thus making it a voluntary transaction. In a purely capitalist arrangement if a worker did not want to work for an employer, they could find another job, or produce what they needed on their own. "

There are false. Nothing about capitalism guarantees (or even encourages) the necessary capital to everyone to produce what they need, nor does it guarantee jobs for everyone (in fact the fewer jobs available the more efficient it functions, because more people can be exploited), nor are transactions necessarily voluntary, since humans have needs for survival.

Capitalism exploits this need.

Thanks for your comment though, sincerely.

ChristianEcon said...

"I thought theft was immoral and against one of the commandments."

Um, yeah--that's what the article was about. Read it?

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Ch..Econ: Thanks for the posting. I am looking at stock daytrading as my next occupation. Never done stocks before. But I am not going forward for the same reason, that it appears that I want to earn without producing anything. I want to evaluate this situation more scientifically. Your posting is good but very small. Do you know of any sources of more elaborate thoughts on the same topic? (boooks/websites/blogs.) Thanks.

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