Producing and consuming fast fashion and other sweatshop products is a win-win scenario for human flourishing: consumers get inexpensive products, workers and their employers prosper, working conditions improve and pollution diminishes, the planet gets greener, and the brands profit.
While the welfare state cannot be transformed into a free-market system overnight, businesspeople can help by speaking up (in forums open to them) when restrictions on freedom of business are being proposed by government and other groups.
If there is a lesson to be learned from the economic lockdowns governments around the world started imposing on businesses in an attempt to contain the coronavirus pandemic, it is the importance of independence.
Voice of Capitalism
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Altruism is not the only moral code; there is an alternative that facilitates long-term profit maximization.
It’s mistaken to think that pursuing profits harms people. Profit-seeking by business does not harm but rather benefits people, beyond its owners.
The key to getting wealthy in a capitalistic society is to produce something so valuable that millions of people want to trade for it. This is the source of all great historical fortunes.
To anyone who understands the role of the productivity of labor in raising real wages, it should be obvious that the unions’ policy of combating the rise in the productivity of labor renders them in fact a leading enemy of the rise in real wages.
Although the ideas behind the attacks on business are often not explicitly labeled as Marxist, that is what they are.
The impending takedown of TikTok sets a dangerous precedent. It marks a serious diminution of the rule of law and a major step-up in the authoritarian use of power by our executive branch.
By rejecting unfounded accusations and standing by its products and their marketing, Trader Joe’s (and indirectly, its customers) displayed all of them—and therefore has earned the designation as a corporate hero.
Business—and the rest of us—cannot afford to conform to social pressure but must find the courage to speak up and defend freedom.
Jobs has spent a lifetime living by Roark’s own singular rulebook not as the designer of buildings, but as the architect of a new approach to technology.
Why are the governments dictating when and how the economy can re-open?
The COVID-19 pandemic may help by bringing a clearer understanding why business needs a moral defense from its leaders and that such defense must be based on the principle of individual rights.
America does not need the command-and-control planning authorized under the Defense Production Act to deal with the COVID-19 pandemic. Instead, it needs greater deregulation to free the entrepreneurial discovery process. In short, the United States needs more economic freedom, not fascism.
To the extent capitalism fosters the creation of wealth – a truth denied today only by the hopelessly biased – it also fosters the creation of health.
What is this metal that is so indispensable to the modern world?
Freeman depicts capitalism as a system where businesses focus on maximizing short-term stock price.
On CEOs celebrating the “death” of capitalism.
Sustainable finance as imposed through government regulation harms human flourishing by violating the investors’ freedom to choose.
“I don’t think that billionaires should exist,” Sanders explained. The crusade’s rallying cry: “Abolish billionaires.” To that end, Warren and Sanders have each proposed special taxes on the ultra-rich.
If millennials and others want to wage war against government favors and crony capitalism, I’m with them 100%. But I’m all too afraid that anti-capitalists just want their share of the government loot.
The ethics of private enterprise and the morality of the market require both a preaching and a practicing of a respect for others’ individual rights to their property and to the rule of voluntary agreement in all transactions, even when market outcomes are not always favorable to oneself.
Wealthy capitalist Andrew Carnegie (1835-1919) was an indefatigable steel tycoon—and he was also intellectual.