I occasionally think of Capitalism in this manner . .
"untrammeled pursuit of profit."
The grocery store owner does not stock his shelves
and open the door solely because he wants to feed
people - he wants to make a profit.
(That is a key concept that you really need to
understand, KillTheCat.)
But I like the following better, Zim. :
http://www.highbeam.com/doc/1P2-1178159.html?key=01-42161A527E19156E1B0B07164A275E3F3C44390F7678700E720E0A60651A617F133D
Only in America would it be possible, after several years of glasnost and official condemnation of the moral nightmare of socialism in Russia and China, to read Jane Lyons' "Morality Has Nothing to Do With Capitalism" {letters, Feb. 20}.
The writer conveniently defines capitalism as "untrammeled pursuit of profit." Without this sleight of hand, she could not reach her conclusion.
Untrammeled pursuit of unilateral advantage is an attitude proper to systems based on piracy and coercion, including socialism. It is foreign to capitalism and to the much-derided "bourgeois morality."
Capitalism is defined by untrammeled exchange-untrammeled either by coercion against an exchange or by coercion to make an exchange, on condition that the exchange itself must not contribute to coercion. It means contracts freely entered into; protection from the pirates and the feudal lords, who obstruct free exchanges while coercing other exchanges to their own benefit; government adequate to subdue the highway robbers and feudal lords; rule of law; laws written and adjusted from time to time to protect the terms and consequences of exchange from coercion; and yes, freedom from immoral protectionist constraints, which The Post decried in an editiorial on the same day.
Capitalist exchange is freely calculated by both its parties to be in their own interest.
(Article does continue. Zim,)
"Capitalist exchange is freely calculated by both its parties to be in their own interest."
This bears repeating.
The grocery store. It IS in my own best interest to
patronize the store because it makes my life a lot
simpler to buy what he sells - rather than having to
either travel to the farms to buy it . . or try to
grow it on my own.
Capitalism promises the grocery store owner he can
make a profit . . and it promises that I can buy all
my food needs in one place. Wim win for both of us.
I don't know what KTC was thinking . . .
but it is clear to me.
Zim.
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