Capitalism

What is capitalism?

Capitalism is the moral (rational-self-interest), political (individualism), legal (rule of law), economic (free-market) social system based on the principle of individual rights that results in peace, progress, and human flourishing.

What is a capitalist?

Politically, a capitalist is an advocate of laissez-faire capitalism, regardless of how rich or poor they are.

Isn’t capitalism an economic system based on the market?

The term capitalism is used here in the broader philosophical, political sense (social system), and not in the narrower economic sense (market economy). Capitalism is not just an economic system (the free market) that can be grafted onto any political structure....

What is the moral-ethical foundation of capitalism?

Capitalism is the ideal social system as it leaves the individual free to be moral — free to act rationally in the pursuit of happiness — so long as one respects the equal right of others to do the same.

What is the political foundation of capitalism?

If capitalism is the expression of individualism; statism is the expression of collectivism.

What is the legal system of capitalism?

Under capitalism, it is the powers of the government that are regulated so that the inalienable rights of the individual are protected.

What is the economic system of capitalism?

Economically, when freedom under the rule of law is applied to the sphere of production and trade, its result is the free market in goods, services, relationships, and ideas.

What is the cultural result of a society built on capitalist principles?

Capitalism is the ideal moral, ethical, political, legal, economic social system of the Enlightenment that results in peace, progress, and human flourishing.

What is the philosophy of capitalism?

“Corresponding to the four branches of philosophy, the four keystones of capitalism are: metaphysically, the requirements of man’s nature and survival—epistemologically, reason—ethically, individual rights, politically, freedom.” — Ayn Rand