this post was submitted on 30 Jul 2024
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It's not greed. It's just capitalism.
Capitalism is a belief system where greed is encouraged as a central virtue.
If it doesn't include copious amounts of profiteering, it's just sparkling market economies.
No, capitalism is not a belief system. That’s just marxists’ image of capitalism.
Capitalism is when a free market results in some people deciding to get wage jobs instead of being entrepreneurs. When you get a worker class, who accepts the trade of more income security for less potential profit, ie when there are “jobs” in the private sector, then you’ve got capitalism.
Because capitalism is based on free markets, ie markets where people have choice of how they engage, a successful capitalist is one who resists short term greed in favor of long term profits.
Who defines permitted contracts in a free market? Some right libertarians suggest that "free" markets include the "freedom" to sell labor by the lifetime or sell voting rights in the state.
"The comparable question about an individual is whether a free system will allow him to sell himself into slavery. I believe that it would." -- Robert Nozick
The theory that invalidates such contracts is the theory of inalienable rights. It has recently been shown to apply to capitalist employment
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