In
my younger days I had a youthful aversion to the idea of capitalism and
I still see that its dark side, its exploitation and injustice, results
in misery for millions of people and potential environmental catastrophe. But, as Tim Jackson pointed out in 'Prosperity without Growth', to destroy capitalism
would mean a massive social upheaval (total breakdown of society?) so that just doesn't seem to be an option
because:
1) It is deeply ingrained in the very fabric of societies worldwide
2)
It appears to be an effective channel through which human creativity,
initiative and entreprise can flourish. I never cease to be amazed at
the technological achievements which permeate our everyday lives AND
3)
We have yet to find an alternative way of organising human society
...
Although for the time being we are stuck with the private investment of capital to make a profit, I've found out that capitalism in the 21st
Century is very different from that which set
up industrial manufacturing factories in England more than 200 years
ago. Its also true that present-day capitalism operates very
differently in different parts of the world, perhaps its the 'unregulated' bit we need to look at next ...
Or the ethical bit perhaps?
ReplyDeleteOr is ethical capitalism the same thing?
Trying to get my head round what 'ethical capitalism' would look like. It seems to me that humans have many aspects to their make-up, some of which are to do with self-preservation and survival and some of which are to do with our need to work together in a group. I guess the co-operation bit also feeds into individual survival because (I think)early Man did live co-operatively in groups. A big problem with unregulated capitalism is that it appeals to our self interest without recognising that in the broadest sense our survival is best served by working co-operatively. The belief that if we each look after our self the whole will benefit is, I think, flawed. State regulation is needed to come up with a system which meets our material, psychological, emotional and spiritual needs. Would that be 'ethical capitalism'?
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