Ethics Paper 2
Is it possible to make capitalism just? Capitalism is defined as an economic and political system in which a country 's trade and industry are controlled by private owners for profit, rather than by the state. (Wikipedia) Capitalism is a social system that focuses and is based upon the individual rights. Capitalism structures markets, determine ownership rights, and provide legal enforcement of trade restrictions which makes it an institutional system. Politically it is a system that is built on freedom. Economically it is turned into “free market” (Rand). Ann Cudd is a defender for capitalism. She believes that income inequality can be controlled.
Ann Cudd in her book, Oppression by Choice, she talks about oppression and …show more content…
“Capitalism creates economic inequalities because it distributes goods in markets, where trades take place because of differing levels of demand for goods and services” (Cudd, p.g. 3). The people who bring higher demanded or scarce products to the market are the ones who get higher rewarded, while those who do not carry those specific products that are in high demand, they will not gain equal rewards which is led to economic inequality. For example, let’s put in a scenario that in the summer for some reason we get a snow storm. It is more than likely that generally most stores in let’s say August, wouldn’t be currently carrying snow shovels, boots, and winter mittens. But let’s say one local Walmart is still selling their snow products for cheap, well in that situation in which they would then raise the prices because of the demand and they would be getting all of the money. Versus a Target is not carrying any winter supplies and would not be making any reward. This is morally acceptable now for inequality to be created. The inequalities that are created by force or fraud, these are not claimed as …show more content…
A good that is distributed unequally can be considered a rival good, or non-rival. A rival good is when it is being enjoyed by one person and stops the enjoyment of another person. A rival good can vary from political power, to a toothbrush. It can be considered that when a good is both essential to well-being and a rival good, morally to be divided equally or works with the difference in principle. Although, wealth and income are not quite a rival good. They are not if the total wealth is rising, and decreases the wealth of others. So if capitalism raises some persons’ wealth or income while they do not differ by decreasing the other person’s then inequality is not morally a problem. So if capitalism simply raises some persons’ wealth or income, while not decreasing that of others, then that inequality is not in itself morally
Is it possible to make capitalism just? Capitalism is defined as an economic and political system in which a country 's trade and industry are controlled by private owners for profit, rather than by the state. (Wikipedia) Capitalism is a social system that focuses and is based upon the individual rights. Capitalism structures markets, determine ownership rights, and provide legal enforcement of trade restrictions which makes it an institutional system. Politically it is a system that is built on freedom. Economically it is turned into “free market” (Rand). Ann Cudd is a defender for capitalism. She believes that income inequality can be controlled.
Ann Cudd in her book, Oppression by Choice, she talks about oppression and …show more content…
“Capitalism creates economic inequalities because it distributes goods in markets, where trades take place because of differing levels of demand for goods and services” (Cudd, p.g. 3). The people who bring higher demanded or scarce products to the market are the ones who get higher rewarded, while those who do not carry those specific products that are in high demand, they will not gain equal rewards which is led to economic inequality. For example, let’s put in a scenario that in the summer for some reason we get a snow storm. It is more than likely that generally most stores in let’s say August, wouldn’t be currently carrying snow shovels, boots, and winter mittens. But let’s say one local Walmart is still selling their snow products for cheap, well in that situation in which they would then raise the prices because of the demand and they would be getting all of the money. Versus a Target is not carrying any winter supplies and would not be making any reward. This is morally acceptable now for inequality to be created. The inequalities that are created by force or fraud, these are not claimed as …show more content…
A good that is distributed unequally can be considered a rival good, or non-rival. A rival good is when it is being enjoyed by one person and stops the enjoyment of another person. A rival good can vary from political power, to a toothbrush. It can be considered that when a good is both essential to well-being and a rival good, morally to be divided equally or works with the difference in principle. Although, wealth and income are not quite a rival good. They are not if the total wealth is rising, and decreases the wealth of others. So if capitalism raises some persons’ wealth or income while they do not differ by decreasing the other person’s then inequality is not morally a problem. So if capitalism simply raises some persons’ wealth or income, while not decreasing that of others, then that inequality is not in itself morally