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Is Capitalism Immoral?

  • YouTube video by Walter Williams, hosted by Prager University.
  • Walter noted that some people criticise Free Market capitalism as being a selfish system, even an immoral one. They go further saying it’s about greed, hunger for money and power. It helps the rich and hurts the poor.
  • Walter argues that: THEY ARE WRONG! He points out that free market capitalism is not only economically superior; it is also morally superior. It calls for:
  1. Voluntary actions between individuals,
  2. It does not advocate coercion.
  • Free market is not a zero-sum game. It is a positive-sum game. Ironically, it is the government, not the free market, that creates zero-sum games in economies.
  • In a free market, “we the people” decide the fate of companies who do business.
  • A free market system can only work if there is a limited government. Limited government means people decide which business survives.
  • In a free market, the ambition and the voluntary effort of citizens, not the government, drives the economy.
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The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.

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