Capitalism as a Value System

Economics, Entrepreneurship by Adam on 2009-01-22 07:25

Eliezer Yudkowsky provides a bullet-point list of what capitalism means as a value system. Some of my favorites:

  • No company has a right to its continued existence. Change happens.
  • In all ways, at all times, and with every deed, make the pie larger rather than smaller.
  • A high standard of living is the just reward of hard work and intelligence. If other people or other places have lower standards of living, then the problem is the lower standard, not the higher one. Raise others up, don’t lower yourself.
  • Create value so that you can capture it, but don’t feel obligated to capture all the value you create.
  • The fundamental morality of capitalism lies in the voluntary nature of its trades, consented to by all parties, and therefore providing a gain to all.

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