Saturday, November 15, 2008

In Support of Ethical Capitalism

The biggest disappointment I've experienced as an adult is the realization that too many public debates end up being hijacked by the two most extreme points of view. Abortion is probably the most glaring example of this. Rarely can an intelligent public discussion occur on this subject because the loudest voices tend to label those who disagree with them as extremists with the opposite point of view. This charge is most often not true but it serves to silence the debate.

Such is the case now with the discussion of how best America (and the West in general) should proceed forward in the aftermath of the failed financial sector. With so many people being personally hurt there are frequent calls to discard capitalism altogether and move to something else. This would be a tragic mistake.

Shortly after reading the long article I've previously discussed, I watched this video:

The gentleman on the right touched upon a key aspect of what has gone wrong in the financial sector: Lack of Ethics.

The extreme opposite of Marxism/Socialism is not Capitalism, but Capitalism WITHOUT ETHICS. The solution is not to move away from Capitalism but simply to severely penalize those who choose to operate without ethics. Many of us in the general public are shocked that anyone has been able to legally act so unethically in the first place but such is the case. Greed has corrupted a great many. Now it's time for them to pay the price ... that is if they haven't bought off too many of those who will be judging them.

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