does capitalism require morality in order to work?

Answer 1

According to Adam Smith, it does, as economic agents are supposed to feel "sympathy" (which is a philosophical concept Smith describes in The Theory of Moral Sentiments) towards the others, to make sure that trade become the chosen mean for goods' circulation (as opposed to pillage, for example).

Answer 2

Capitalism is centered around the need for free competition from the supplier and the consumer.

Does morality come into play ?
It does if the consumer doesn't want to get ripped off. If a consumer is being ripped off he will buy from the competitor who doesn't rip him off.

Therefore morality does give an advantage to some people.

Also the importance of intellectual property rights as a motivation for inventing something new.
Why would you invent a new machine and get patent / copyrights if someone is just going to take your idea and copy it ?
The most successful capitalist countries protect the rights of ideas and invention.

Answer 3

Capitalism is about profit optimization. Capitalism does require participants to follow rules of business, and punish fraudulent actions.

Morality, in terms of ethics, is about doing the right thing for everybody. Corporations don't have time to think about everybody, when their focused on profits. Corporations will charge excess profits if they can, like gasoline, and pollute the environment if it's cheap and convenient.

So no, capitalism doesn't require morality.

Answer 4

Capitalism is the polar opposite of Morality.

Think of it like this:

You and ten other people are in a tribe. No modern perks such as electricity, phone ect.

You would each work together EVEN WHILE WORKING SERPERATLY ON DIFFERENT PROJECTS in order to survive. If one of you was a skilled carpenter, would you allow him to starve just because he couldnt catch food? That wouldnt be very smart, who will build and maintain your dwellings? You would all serve a purpose and work together for survival.

We don't live by these principals in our society. Its to each there own. Survival of the richest. Exploitation of cheap labor. Welcome to Capitalism.

Answer 5

Yes, but not all aspects of morality. Dishonesty in business dealings, theft, bribery, and most forms of corruption will kill economic growth. Capitalist countries have laws that enforce honest business behavior, but laws don't work unless most people comply without force. Altruism and sexual morals are not necessary, but the virtues of thrift and industriousness are also needed to have a well functioning economy.

Answer 6

modern capitalism - yes.

robber baron capitalism (19th century in US) - no.

Answer 7

No It Does'nt

Answer 8

are the two compatible?

Answer 9

hahahahahahahahahahahahahahahahahahahahahahahahaha
hahahahahahahahahahahahahahahahahahahahahahahahaha
hahahahahahahahahahahahahahahahahahahahahahahahaha
hahahahahahahahahahahahahahahahahahahaha....