Liberty in Focus

Understanding and applying the outlook of personal rights and freedom.

Reimagining Capitalism ( Submission)

with 2 comments

The first challenge in re-imagining capitalism is the challenge of shedding the pervasive baggage which accompanies the word.  Thanks to generations of propaganda, and the academic specialization which has removed economics from any philosophical and moral foundation, the use of this term conjures images of greedy men in top hats carrying dollar signs out to fleece the public.

Even for those informed and reasonable enough to reject such sensationalism, capitalism still tends to be evaluated under the implicit presumption that it just another “ism” plan of economics to be compared against schemes of greater economic control and, like any plan of managerial control, to then be imposed from the top-down in the pursuit of some nebulous societal end to which it is presumed to be the best means.

The Missing Moral Context

The most important way to reinvent capitalism going forward centers around the part of the debate that all of the foregoing drops… the moral and philosophical context at the core of the question.  What is economic exchange?  Economic exchange is not, as most modern schools of economics tend to imply in their methods, just the cold materialistic operation of some natural phenomenon to be evaluated empirically and predicted only on the basis of calculations and statistical observations on a large scale.  It is, in reality, the aggregation of millions of individual human choices made by individuals for individual reasons.

Unfettered economic exchange therefore is not just the best and most dynamic way to accomplish the distribution of resources and services in any given locality.  More importantly, it is  the inevitable moral mandate arising from natural rights, or the concept that the individual is rightfully free in the use of his person and property, and that this individual has value as an end in his or her self.  To presume anything else economically, is to presume the propriety of brutality and acceptability of aggression at the individual level.

Unfortunately, the early lawmakers of the American republic did not fully apply this philosophy of natural rights that led to the greatest amount of economic freedom in history, and the footholds and holdovers from the mercantilism of Europe which they adopted have been fully exploited by the enemies of human freedom.  Thus our starting point, and best tactical priority, is to restore this moral and philosophical context as the foundation of economic science, and advocate a free economy as an ethically superior position.


Written by Spencer Morgan

June 19, 2011 at 3:10 pm

Posted in Uncategorized

2 Responses

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  1. Correct, timely and brilliant!

    Larry Jensen

    June 19, 2011 at 5:19 pm

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