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Paper #025376 :: Philosophical Foundations of the Western Socioeconomic System
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A look at the philosophies of various thinkers in the field of economics and how their ideas affect the capitalistic system.

Written in 2002; 4,624 words; 8 sources; APA; $ 119.95

Paper Summary:

The author of this paper is of the opinion that philosophy has its place in economics. The paper looks at the philosophical discussions of thinkers such as Aristotle, Ayn Rand, John Rawls, W. D. Ross, Thomas Hobbes, John Locke, Immanuel Kant, Adam Smith, Jacques Rousseau and others. It shows how their philosophies shed light on the various components of ethical, political, social, economical and moral arguments. Furthermore, these ideals have generally amounted to the revision and modification of founded arguments, and often spawned tremendous progress in the examination and expression of important issues in the American system. The paper also shows, more specifically, that these philosophical discussions have helped to shape the ideas of free enterprise and the type of capitalism that moves through the system today.

From the Paper:

"One significant supporter of Hobbes's ideas was Jacques Rousseau (1712-1778), a French, consequentialist philosopher who expanded on the social contract theory. He was one of the first modern writers to seriously attack the institution of private property and, therefore, is considered to be one of the original propagators of modern socialism and communism. Like Hobbes, Rousseau questioned the assumption that the will of the majority is always correct. He argued that the goal of government should be to secure freedom, equality, and justice for all within the state, regardless of the will of the majority. One of the primary principles of Rousseau's political philosophy is that politics and morality should not be separated. The second important principle is freedom, which the state is created to preserve. Finally, Rousseau introduced us to man's "voice of duty," which "requires him to set aside his private, self-centered, 'inclinations' in favor of rules that impartially promote the welfare of everyone alike."

Tags: Nicomachean Ethics Leviathan

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