The Enduring Tension

Autori

• Donald J. Devine

Parametri

• Business & Management
• Economia

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Western civilization has developed a capitalism that, while creating a global abundance, has left many ungrateful beneficiaries. The market's creative destruction and individual autonomy challenge capitalism's legitimacy, prompting critiques from figures like Pope Francis, who described capitalism's "limitless" freedom as a "fundamental terrorism against all humanity." Economic historian Joseph Schumpeter warned of capitalism's "crumbling walls" and predicted a potential civilizational collapse. Today, capitalism endures in a "fettered" form, restrained by bureaucratic regulations that hinder productivity, exacerbate issues, and erode the moral foundations of capitalist creativity and legitimacy. Addressing these challenges requires revisiting capitalism's origins as articulated by Karl Marx, who traced its roots to feudalism and highlighted the implications of this historical legacy, particularly the transformation of heavenly ideals into unattainable earthly demands, as noted by Walter Lippmann. This shift culminated in F.A. Hayek's critique of the belief that science could rationalize markets for social perfection. To unravel this capitalist enigma, we must explore its historical roots, assess alternative rationalized solutions, and propose a pluralist, John Locke-inspired synthesis that integrates freedom and tradition, providing a moral framework to sustain the best aspects of capitalist civilization.

Lingua: Inglese

Pubblicato: 2021

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