The Paradox Of Reforming Capitalism

Capitalism is not bad but dangerous. Capitalism in essence is a system for producing things to sell for as much profit as possible, it doesn't matter why they sell. Capitalism needs a wide variety of regulations and interventions to make it work for the happiness of society. In order to do that we need to educate the public. The paradox of reforming capitalism is it requires socity (citisens) in support, which would be available only if the goals were already achieved. In today's society, in the context of working and happiness, capitalism does more harm than good. When operating in a capitalistic economy we need to supplement capitalist power (as a generator of profits), to a broader considerations of the overall sociatal good. The fundamental idea …show more content…
The owners of businesses must accept governmental restrictions on profit making for the sake of overriding social values, make the reforms to allow the leisure people need, and to engage in Aristotelian work. It is the responsibility of the rest of us to establish a framework of law, led by an "invisible hand" to promote public good. Directed by the social values that our political system enacts through its laws, these values shape the functioning of the capitalist economic system. We need interventions for markets to be considered genuinely free, laws against deception and fraud, clear definitions of property, legal enforcement of contracts, and monitor the money supply and take steps to help prevent monopolies that will destroy the free market. Help those in poverty, so they can at least come up to meet the poverty line. We need to pass laws preventing various abuses of capitalism's power, craft regulations that will prevent poverty - it needs to focus on Aristotelian work, time for leisure, and support moral not materialistic values, stronger restrictions on advertising - and so much