Monday, October 20, 2008

Chicken or the Egg?

The Templeton Foundation is currently hosting an open forum topic entitled, "Does the Free Market Corrode Individual Morality?" which seems to be a common indictment even of the study of economics -economics is a culture killer and a soul stealer.

First, let me construct a definition of capitalism:

Capitalism is the system of free trade where all economic actors involved in the trade of goods or services are able to retain the gains from those trades.

From that definition, I presume many people would say, "What's wrong with that?"--people ought to be able to keep the money they earn. After all, the people gained by their own efforts. But people make the system of capitalism into much more than a mere system of free trade. They make it a constant and ever-present incentive to reward man's depravity.

Last week a young woman decided to auction her virginity on a radio show. When asked why she would sell her virginity, she remarked, "We live in a capitalist society. Why shouldn't I be allowed to capitalize on my virginity? . . . I'm using what I have to better myself." Did the ability to sell her virginity corrode her morals or were her morals sufficiently corroded by other influences to the point she would consider such an act? The problem of immoral behavior is not rooted in capitalism but in the depravity of human preferences. There are less outlandish examples as well, like the father who trades time spent with his children for long hours at the office to buy new toys. Did capitalism corrode his moral obligation to be the father of his children? Perhaps capitalism provided an option that, because of his weakness, he did not turn away from.

That we can be rewarded for distortions that we are willing to make to our own morality does not mean that capitalism corrodes our morals. Maybe capitalism is an ever-present incentive for some people to engage in questionable behavior. But temptation and compromise of character lurk around every corner in non-capitalist institutions as well (relationships and politics). There is a common indictment that markets are evil and create evil. But evil does not need the free market--it just uses it as a vessel sometimes.

4 comments:

Paul said...

Capitalism is not evil, and does not create evil. In order to be successful in a capitalism society, both economically and spiritually, one must have SELF responsibility.

Like you mentioned "There is a common indictment that markets are evil and create evil." These indictments come from abusers of the system. But despite this capitalism creates MUCH more good than it does evil. Just look at capitalism countries compared to others.

Paul said...

Capitalism is not evil, and does not create evil. In order to be successful in a capitalism society, both economically and spiritually, one must have SELF responsibility.

Like you mentioned "There is a common indictment that markets are evil and create evil." These indictments come from abusers of the system. But despite this capitalism creates MUCH more good than it does evil. Just look at capitalism countries compared to others.

Doug said...

Paul, I believe that our success in life is driven a great part by the choices we make and spiritually I believe that our relationship with God grows with those small choices too. When we are responsible with little things we are entrusted with bigger things.

But, I would not say that capitalism creates good or evil. Rather an environment where people can act on their good or evil inclinations. Liberty is a good thing and I believe liberty allows a capitalist system to be established.

Paul said...

I 100% agree. I think capitalism gives people the opportunities to show their good or evil, but does not create either one.