Question

Computer and Business ethics

Does the nature of the capitalism suggest it is incompatible with a just society? PLZ TYPE AT LEAST 200 words. TYPED NOT WRITTEN

Answer 1

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Capitalism is the social system based upon private ownership of the means of production which entails a completely uncontrolled and unregulated economy where all land is privately owned.The essential nature of capitalism is social harmony through the pursuit of self-interest.

Impact of capitalism on society is quite high as it tends to mold a society into a way that the people in it follow capitalism tend to do.A social system must be measured according to its ability to sustain each man's right to life, i.e. its recognition of man's nature and as such its defense of the requirements of a conceptual consciousness. Recognition of man's right to life means the recognition of the necessity of the freedom of man's mind, with reason as his sole means of survival, and of the freedom of man's body, by which the products of the mind are brought into reality. Therefore, an ideal social system must respect the nature of man, and provide a context in which the defining moral principle is the freedom to sustain one's own life by voluntary, uncoerced choice. Such an ideal system exists, if only in the minds of men, but it's name is not socialism.An absolute democracy, which means unlimited majority rule, is incompatible with capitalism and freedom. This is so because capitalism rests on the principle of individual rights. In an absolute democracy, rights would really have no legitimate meaning because they could always be voted away in the next election. Individual rights must be consistently upheld if capitalism is to be achieved, and if the majority may do whatever it wants regardless of the rights of the minority, capitalism cannot exist, not even in principle.