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Network Nation

Bullet Survey: Respond
Capitalism Survey Part 1: The Ethical Basis of Capitalism

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1. Instructions

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    STEP 1: Read the introduction.
    STEP 2: Consider the question.
    STEP 3: Review the list of available answers.
    STEP 4: Sign in to enter your input and response.

After you sign in, you can add new options to the list of available answers.

1. Introduction

It may be possible to understand the entire political debate in the USA along a single dimension or spectrum, with absolute personal freedom at one end of the spectrum (extreme libertarianism) and absolute personal responsibility to the community (extreme socialism or communism) at the other end. Another way to describe this spectrum is the tension between "rights" and "responsibilities".

In the USA today, free-market anti-regulation capitalists advocate an economic philosophy of complete freedom, arguing that this approach liberates the creative power of job-creators and innovators, and builds the economic vitality of nations. Niall Ferguson, author of the book "Civilization", advocates this point of view, and cites developing nations like India and Brazil and China. Economic philosophers recognizing the need for regulation argue that the free market must be regulated or its freedom will be immediately abused, leading to national and international crisis. Jeffrey Sachs, author of "The Price of Civilization", argues this point of view.

In the context of this debate, we are looking for ethical principles that could guide the emergence of a new vision of capitalism. To begin, please respond to this question:

What is the ethical basis of capitalism?

In other words, 1) why is capitalism ethical? and 2) what specific practices make it ethical?

Please review the answers to this question that have been suggested by participants, and check off those answers with which you agree or support.

2. The Question

"What is the ethical basis of capitalism?"

3. Select Answers

Select ALL answers that are true for you (perhaps more than one). Then click "SAVE my answers".

No Answer
1 Capitalism works because it rewards people for creating products and services that serve the community.
2 Capitalism encourages innovation, which serves the community.
3 Capitalism thrives on the natural creativity and innovative skills of entrepreneurial developers and business visionaries, who build business that serve the community and employ members of the community.
4 There should be no ceiling on the amount of money an entrepreneur can earn, which he/she can deploy to to create additional products that serve society.
5 People make money in accordance with their talents and work ethic.

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