Question

Ethics deals with morality and I would contend that capitalism is an amoral economic model!  (Amoral means without morals, neither good nor bad.)

What do you think about this statement? Please briefly comment.

What about other economic systems, say socialism? Do you have the same answer?

Answer 1

Capitalism is neither moral nor immoral- it is amoral ie without morals. It is based on what the owners or the users of it want out of it. It is an economic system wherein there are a working class ie the labourers and the wealthy group of individuals who control the system.

It focusses on the system of productivity and economic growth. It is not moral because it is not based on ethics. It doesn't give the freedom to people to act the way they want. This might also lead to rising of immoral behavior since people are free to choose the way they want to act and live. Hence when it chooses to be amoral, it is avoiding the stance of creating immoral behavior.

Socialism, in my view, won't be considered as amoral because it is based on ethics and could also be immoral at certain times. It could be moral when the wealth of the rich is being divided among the lower class of people to sustain equality. But for some , such a system might be unethical as well , for they would believe that the hard earned money of one goes to another.

(You can comment for doubts)