Do Moral Values Trump Profit Or Vice Versa? Essay

1920 Words Oct 12th, 2016 8 Pages
Do moral values trump profit or vice versa? Each person must respond to that question independently, but in order for the question to even arise one must work within a capitalist economy. In this essay, I will not be answering philosophical questions, but rather, I will explain the economic environment that leads to the need to ask these moral-testing questions. A capitalist economy exists when five key components are present: self-interest, private property, division of labor, competition, and the invisible hand.

The self-interest or profit motive remains the driving force in the majority of economical transactions in the U.S. economy. By fostering a profit-driven economy, the U.S. feeds another key component in capitalism, competition, which I will describe in further detail later in this essay. In a profit-driven economy, each corporation aims to make the most profit possible or fall victim to another business that makes more profit. Self-interest, the driving force of not only business transactions, but also regular transactions, such as lending a neighbor some milk, promotes a feeling of egotism. The profit-motive really illustrates itself in economies that foster monopolies and monopsonies. Luckily, the Federal Trade Commission tries to regulate monopolies in the U.S. Unfortunately, due to unforeseen circumstances, loopholes in the laws, and patent protections, some companies like Mylan Pharmaceuticals are allowed to act as a monopoly in the EpiPen market. Due to the…

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