Capitalist Philosophy

Paper Summary:

The paper discusses how capitalism can harm the public good by hindering class mobility and increasing prices for necessary goods and services. The paper shows how capitalism has its own ethics that do not necessarily create equal economic opportunity and protection for all.

Outline:
Hindering Class Mobility
Raising Prices of Necessary Goods
Conclusion

From the Paper:

"A key ethic of capitalism is that the means of economic production should be controlled privately, as opposed to being the purview of the government. It is easy to see how this ethic contributes to a lack of class mobility that is at odds with other ethics, even within capitalist societies (Gordon, 2005). Because capitalism promotes private control of economic production, and such control provides wealth in a capitalist society, we are left to wonder how one gains such control. Quite simply, gaining control requires money to acquire means of economic production. A lower-income person will not be able to acquire the means to his or her wealth, and even loans often require collateral or some type of personal guarantee."

Sample of Sources Used:

• Taylor, Kit Sims (1996). "Human Society and the Global Economy." Retrieved Dec. 12, 2006 from the Web site for Bellevue Community College athttp://online.bcc.ctc.edu/econ100/ksttext/chaplist.htm.
• Gordon, Ed (2005). "Class Mobility: Is the American Dream a Myth." May 23, National Public Radio. Retrieved Dec. 12, 2006 from the Web site for National Public Radio at http://www.npr.org/templates/story/story.php?storyId=4662456.

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