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The article makes the fundamental mistake of confusing economics and ethics. Capitalism is an economic system. It's far from perfect, but it may be the best ec
by _qulr 6y ago
The article makes the fundamental mistake of confusing economics and ethics.
Capitalism is an economic system. It's far from perfect, but it may be the best economic system we've got.
Capitalism is not an ethical system. Treated as an ethical system, it may be the absolute worst. It has nothing to do with "fairness". How is massive inequality fair? It's not.
We've got to dump the inhumane idea that people ethically "deserve" the money they acquire, as some kind of god-given right. I suspect some people literally believe that the "invisible hand" of the market is God distributing reward and punishment. But that's not economics, it's theology. I've got no objection to capitalism or inequality, if they end up being useful, but the whole point of it is to make everyone better off via economics, not to "fairly" distribute wealth. How fair is it that some people are born smart, or strong, or tall, or beautiful? Nothing really fair about the genetic lottery, but it can certainly be advantageous economically, and there's nothing wrong with utilizing natural talents for societal benefit.