Thursday, October 4, 2018

Capitalism, Morality, Economics

Capitalists believe that their system is a set of transactions between consenting adults, and, so, should be considered beyond the purview of a Polis, the scope of which is the public realm.  Regardless, because one of the cardinal principles of the system is normative for behavior, it entails a Moral doctrine, and is subject to evaluation on that ground.  Now, the fundamental Moral principle of Capitalism is 'One should always seek to maximize profit.'  Thus, conversely, 'One should never seek to benefit another to one's own disadvantage', a formulation of scholarly interest, since it seems to directly contradict Smith's earlier advocacy of Sympathy.  So, as is, Capitalist Morality is not, contrary to Bentham's ambition, a variety of Utilitarianism, but not because its principle lacks a reference to General Happiness.  Rather, it is anti-Utilitarian because it is a Morality of Intention, not a Consequentialist Morality.  So, without some other premise that links Intention with outcome, e. g. that a deity with causal efficacy, rewards/punishes the motive of action, Capitalism is not even an Economic system of any kind--it is a Moral doctrine.

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