Is there something unethical about capitalism such that it needs to be qualified by the word ethical?
No, capitalism isn't unethical but many unethical people use and abuse capitalism. No matter what one does in their life, there is a right way and a wrong way to do it.
Capitalism is a very free system that depends to a great extent on the decisions of the free individuals within it. Any system benefits the powerful and unscrupulous because they are most willing to exploit it, and this is the reason it is necessary to have some laws controlling an economy.
However, capitalism can be controlled through agreements based on certain ethical principles (honesty, good faith, etc.), because the basis of capitalism is the contract, which is a voluntary agreement between truthful individuals. This means that capital will not be taken from one and redistributed to another (that is, the government or the powerful person) but that it will be something from which both parties expect to gain some advantage.
When the parties to a contract are dishonest or are relying on things outside of the contract that give them an unfair advantage (government bailouts, for example), the entire system is undermined.
So yes, ethics are important.
Is there something unethical about capitalism such that it needs to be qualified by the word ethical?
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One, we don’t have capitalism in current American. And second, if one places God over economy ideology, then ethical may well supercede fraudulence and greed, at least to some.
Is there something unethical about capitalism such that it needs to be qualified by the word ethical?
Capitalism is like a vehicle or a gun, which have no ethics, good or bad. The guy controlling either one, on the other hand ...
Capitalism is ethical when the guy using it adheres to the "Christian system," as one of the Founder's put it.
John Quincy Adams said: "The law given from Sinai was a civil and municipal code as well as a moral and religious code ...."
Like everything else in human civilization, capitalism thrives when people adhere and adapt their behaviors to that Judeo-Christian code. Capitalism, like everything else in human civilization, decays and self-destructs when that code is ignored. It's just like evolution, which, far from being "survival of the most ruthless," actually comes down to: Adapt or perish.
In capitalism like everything else, we adapt to the word of God ... or perish, as countless barbarian, heathen civilizations have perished before now.
Yes. Just like there was something uncompassionate about conservativism, such that it needed to be qualified by the word "compassionate." NOT.
As I posted upthread, anytime a feeling word is used to qualify a system of thought, the word has one use: to be exploited by Lefties.
you ask: “Is there something unethical about capitalism such that it needs to be qualified by the word ethical?”
I ask you: “Is Crony Capitalism ethical?
Ever read this?
“Is there something unethical about capitalism such that it needs to be qualified by the word ethical?”
Lets say you have terminal cancer. No, lets say your daughter or your wife has it... I have the cure, and it costs only pennies. However, I own it and control it. You can buy it from me of course at my asking price. That’s capitalism at work.
You can pay me 200K or somebody’s going to die. It’s certainly capitalism and it’s certainly legal for me to charge whatever I want.
The question to you and others... Is it ethical?
“Is there something unethical about capitalism such that it needs to be qualified by the word ethical?”
Remember “compassionate” conservative. Same concept. If you are a conservative it is assumed you have no compassion. But it really meant “liberal” conservative.
I am waiting for people around here to spend more of their time talking about the unethics and lack of compassion involved with socialism and communism.
It should be easy since were are currently engaged in it.
Gingrich is dealing with peoples' perceptions based on their observance of what has been happening on Wall Street the past few years. Of course, the MSM likes to pile on Wall Street, and never seems to mention the other party to their transactions; politicians in Washington DC.
People need to be reminded that it's Crony Capitalism that skews the benefits the regular person might derive from a more ethical capitalist system. I believe this is what Newt is trying to say with his comments.