I’m reading “An Introduction To Capitalism” by Eamonn Butler.
Here’s a really excellent passage which, I think, is well worth sharing with you:
“Capitalism is usually seen as an economic way of life—about the creation and distribution of economic goods, not about moral or social outcomes. Yet it is in fact a social system—about human interaction on many levels.
It is a highly moral system too. The human relationships in capitalism are not forced but voluntary. People, invest, create, supply, sell and buy things as they choose. No government ordains their actions: the decisions are theirs.
Indeed, the only role for the power wielded by the state is to insure that individuals are not forced—or robbed, defrauded, or otherwise violated.
Capitalism is not based on commands, but on the rule of law in which general rules (such as honest dealing, honouring contracts and shunning violence) apply to everyone—including the government authorities.
Yet, like a game that also proceeds by following rules, capitalism does not guarantee any specific result.
It cannot be blamed for the crimes, follies or misfortunes of humankind. It does not promise enlightenment or equality. It does not even promise to enrich everyone (though in fact it does).
But what capitalism does promise is to boost economic productivity—and boost it in ways that keep opportunities open to all, treat people equally and fairly, and reject fraud, coercion and violence.”
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