Friday, January 04, 2013
The moral foundation of capitalism
We better hope that the moral
foundation of capitalism comes mainly from nurturing and education and not only from genetic
traits if we expect to have a fair and equitable nation with widely
varying ethnic groups and businesses in America.
The moral foundation behind capitalism
has eroded. We now have crony capitalism where big business and
their lobbies control the political process. This means that the
magic of creative competition and meritocracy cannot work well.
Contrary to many libertarians,
government has an important place in controlling monopolies of power
and keeping healthy competition open and free. Narrow economic
efficiency is not the only criterion for public policy. Destroying
everything else to make the trains run on time, as fascism tends to
do, is stupid.
Light federalism works best for
controlling monopolies of all kinds and for protecting the rights of
small states, but it needs to have teeth to do the job. Economic
nationalism, protecting American manufacturing and jobs with tariffs
on foreign-made products, this is part of the protection government
needs to supply. Freedom, merit, and most
importantly evolution can take place between varying groups and
businesses by controlling monopolies. This is the moral foundation of capitalism. America has had the nature and nurture to do this perhaps better than anyone else.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment