Does belief in and participation in the capitalist system allow us to lead good lives? An entrepreneur has to maintain a good reputation through fair and honest trade if he wants to remain in business very long. But though our American society, and indeed most free societies, have come to embrace capitalism (despite our quibbles over how much it should be regulated), is it possible that our passion for the virtues of free markets and competition will come back to bite us someday? To what extent are we morally culpable for capitalism’s negative effects on the destitute, especially in developing countries? Is there merit to the argument that material prosperity gives us the time and motivation to focus on developing ourselves spiritually or morally? Or will gluttony of choice and materialism be the downfall of our society and culture? It may do well to ponder what Winston Churchill had to say on the subject: “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”
Come join us this Wednesday at 7:30 in the Berkeley Mendenhall Room as we put on our economic philosophy caps to debate these and other questions concerning the virtues and vices of capitalism. All are welcome!