The Moral Case for Capitalism

There is one, you know:

In every society, there will be winners and losers. What makes a free society different is that dissenters can be vocal in their disagreements. In the United States, while we are born equal in terms of our rights within the State, none of us is equal in terms of intelligence, physical aspects, or aspiration. With globalization, the term “community” has assumed a new definition. In the “community of markets” it may define anyone with whom one trades. And globalization has increased the level of competition. Europeans remain mired in their own version of regional nationalism. 

Arthur Brooks, President of the American Enterprise Institute, has laid out what he feels to be the three principles for the moral case for capitalism: Free enterprise safeguards lasting happiness; it promotes real fairness, and it does the most good for the most vulnerable. He argues that earned success, not money, is the foundation of happiness. Examples of “earned success” can vary from owning one’s own business to raising children. “Earned success,” Mr. Brooks writes, “is the belief you are creating value in your life and in the lives of others.”