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What is the greatest aspect of Capitalism?

What is the greatest aspect of Capitalism?

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October 4, 2023

Question: What is the greatest aspect of Capitalism?

 Answer: Well, politically the greatest aspect is its protection of individual rights. The justification of government in a capitalist economy is; it protects an individual's freedom to live their lives how they want, do business how they want, keep the fruits of their labor, and consume them as they judge.

 If we zoom out more broadly, beyond the role of government to capitalist society, I'd say the greatest aspect is not just the freedom that people enjoy, but the fact that capitalist societies unleash incredible productive power and creative energy enabling their participants to live in prosperity, beyond much of human imagination through history. 

 As well as fostering a social ethic, I would say, of peaceful interaction, voluntary trade, and a kind of tolerance; if we can't make a deal we're just going to go our separate ways.

Stephen Hicks Ph.D.
About the author:
Stephen Hicks Ph.D.

Stephen R. C. Hicks is a Senior Scholar for The Atlas Society and Professor of Philosophy at Rockford University. He is also the Director of the Center for Ethics and Entrepreneurship at Rockford University.

Es autor de El arte de razonar: Lecturas para el análisis lógico (W. W. Norton & Co., 1998), Explaining Postmodernism: Escepticismo y socialismo de Rousseau a Foucault (Scholargy, 2004), Nietzsche y los nazis (La navaja de Ockham, 2010), La vida empresarial (CEEF, 2016), Liberalism Pro and Con (Connor Court, 2020), Arte: Modern, Postmodern, and Beyond (con Michael Newberry, 2021) y Eight Philosophies of Education (2022). Ha publicado en Business Ethics Quarterly, Review of Metaphysics y The Wall Street Journal. Sus escritos se han traducido a 20 idiomas.

Ha sido Profesor Visitante de Ética Empresarial en la Universidad de Georgetown en Washington, D.C., Profesor Visitante en el Social Philosophy & Policy Center de Bowling Green, Ohio, Profesor Visitante en la Universidad de Kasimir el Grande, Polonia, Profesor Visitante en el Harris Manchester College de la Universidad de Oxford, Inglaterra, y Profesor Visitante en la Universidad Jagiellonian, Polonia.

Es licenciado y máster por la Universidad de Guelph (Canadá). Se doctoró en Filosofía por la Universidad de Indiana, Bloomington (EE.UU.).

En 2010 ganó el Premio a la Excelencia Docente de su universidad.

Su serie de podcasts Open College está publicada por Possibly Correct Productions, Toronto. Sus conferencias y entrevistas en vídeo están en línea en CEE Video Channel, y su sitio web es StephenHicks.org.  


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