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Sun Feb 17, 2013, 11:48 PM

 

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

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Arrow 5 replies Author Time Post
Reply The Insidiousness of Unchecked Capitalism (Original post)
JamesSchacht Feb 2013 OP
Cleita Feb 2013 #1
L0oniX Feb 2013 #2
dkf Feb 2013 #3
JamesSchacht Feb 2013 #4
dkf Feb 2013 #5

Response to JamesSchacht (Original post)

Sun Feb 17, 2013, 11:53 PM

1. Thanks. You are preaching to the choir here.

Welcome to DU!

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Response to JamesSchacht (Original post)

Mon Feb 18, 2013, 12:01 AM

2. ...

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Response to JamesSchacht (Original post)

Mon Feb 18, 2013, 12:27 AM

3. If we really believed that we wouldn't be complaining about jobs being offshored.

 

Sharing jobs is even better than sharing wealth.


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Response to dkf (Reply #3)

Mon Feb 18, 2013, 01:20 AM

4. Perhaps sharing both jobs and wealth is a good thing.

 

Perhaps sharing both jobs and wealth is a good thing.

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Response to JamesSchacht (Reply #4)

Mon Feb 18, 2013, 02:36 AM

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.

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