I atteneded a a lecture by Eric Daniels at Thomas last night, where he provided a moral defense for unregualted capitalism. He states that capitalism's economic feasability is not usually contested, but rather labeled as immoral. He claims capitalism is not usually explained well on a moral basis and misunderstood even by the man who coined the term "Capitalism", Karl Marx.
In this lecture Daniel explains how Capitalism is the only system where the individual's rights can be upheld and protected. Daniel's also explains how the government should only be concerned with nation defense, policing, and judicial affairs. This government serves as a nuetral third party that can settle disputes and protect the people. Daniel's also entertained questions about how to found this government since people can not be taxed under free market economics. There are many suggestions for this mechanism, such as businesses paying for the government's services for settling disputes and charitable contributions from the public. Daniel's added if the people where not taxed and had a choice, the majority of people would be likely to pay for the government's sevices as long as they did a valuable service.
A question I did not get to pose was how the domination of monopolies can be prevented, such as the railroad tycoons of the 19th century.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment