- Oct 2, 2011
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What's your opinion on capitalism?
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor.
Is it evil, or does it work better than any other economic system we have?
As an economic system, technically, it is neither evil nor good. It does not possess a soul and spirit on its own to be judged by God.
It works better than any other economic system we have in terms of providing high GDP per capita. E.g., since the beginning of Deng Xiaoping's capitalistic reforms, China's GDP has risen tenfold.
You wrote:
The CEOs who run companies to maximize profits can indeed do evil things.
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor.
Is it evil, or does it work better than any other economic system we have?
As an economic system, technically, it is neither evil nor good. It does not possess a soul and spirit on its own to be judged by God.
It works better than any other economic system we have in terms of providing high GDP per capita. E.g., since the beginning of Deng Xiaoping's capitalistic reforms, China's GDP has risen tenfold.
You wrote:
Right. I agree
The CEOs who run companies to maximize profits can indeed do evil things.
