Sun Feb 17, 2013, 11:48 PM
JamesSchacht (28 posts)
The Insidiousness of Unchecked Capitalism
Americans sometimes have difficulty recognizing the insidiousness of unchecked capitalism – the insidiousness of the belief “greed is good.” Unchecked capitalism can be characterized by capitalism that is unregulated and callous, ruthless, or corrupt.
A belief that capitalism can do it all denies the belief “it’s not all about me” that comes with morality, responsibility, and religion.
A belief that capitalism can do it all also ignores the need for a healthy competition achieved through regulation. For example, leaders in industry have previously expressed a desire to be regulated by government to achieve fairness in environmental regulation, since being under a system that relies on companies voluntarily purchasing pollution-reducing technology means those that do so are at a financially competitive disadvantage to those that don’t. Without this regulation, a prevailing business environment lacking in restraint is fostered.
In addition, a belief that capitalism can do it all denies a greater good that goes beyond mere greed being good. It therefore denies the commonweal as well.
Though we have a right to the fruits of our labors, we also have a responsibility to share nonessential resources with fellow persons in need. Moreover, all persons have a right to share in the resources of the planet.
For those that have and those that have not, finding a cause greater than ourselves can be rewarding.
By James Schacht, author of The Future of Democracy in America and the World: A Few Possibilities, see more at TheFutureofDemocracy.org
5 replies, 750 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
The Insidiousness of Unchecked Capitalism (Original post)
Response to JamesSchacht (Reply #4)
Mon Feb 18, 2013, 02:36 AM
dkf (37,305 posts)
5. Well I can't begrudge the Chinese when I see how hard they work...
Millions lifted out of poverty, almost as much as the entire population of the US.
If other countries did the same I say more power to them.