PPT-Moral underpinnings of Capitalism

Created by Aleksandar Apostolov Capitalist systems and market economies are based on the idea for perfect resource allocation on the market But considering the nonexistence of perfect competition and the market failures this systems though still implemented ignites serious lack of morality and ignites urgent need for social responsibility . According to Popper What is Capitalism?. Sometimes defined as “the free market” as opposed to the centrally controlled economy of the Socialist states of USSR, Soviet-bloc Eastern Europe, China, Cuba; not by . Graeber. Kritik. -An ideology. -A mindset. -“an economic system based on the private ownership of the means of production, distribution, and exchange, characterized by the freedom of capitalists to operate or manage their property for profit in competitive conditions” . Professor Craig Calhoun. Director and President. London School of Economics. Collapse?. Capitalism seems to be surviving a deep and still lingering global crisis. A longer period of depressed growth than the Great Depression. S. Todd. Capitalism vs. Communism. Capitalism. and . communism . are opposing schools of thought in . economics and politics. The central arguments in the communist/capitalist debate are about:. Economic equality . . Socialism, and. . Communism. Capitalism. “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.” - Smith. Bob Jessop. Lancaster University. Outline. . What is capitalism?. World system theory. . Varieties of capitalism: rival approaches. Variegated capitalism. World market and variegated capitalism. . - The Father of Capitalism and Classical Economics. Personal Information – Economic Theory – Political Criticism. Matilde . Lomaglio. – Lorenzo . Grossi. – Daniel Xu. PPT by Daniel Xu. Key Ideas. -A mindset. -“an economic system based on the private ownership of the means of production, distribution, and exchange, characterized by the freedom of capitalists to operate or manage their property for profit in competitive conditions” . Two Foundational Propositions. Foundational Proposition of Critical Social Science. Many . forms of human suffering and many deficits in human flourishing are the result of existing institutions and social structures. . ELEVATE HUMANITY THROUGH BUSINESS. The Evolution of Capitalism. The landscape of capitalism and business is . shifting. . . Consumers are demanding more than variety and low prices, they are prioritizing . Industrial revolution spreads….. Rising Economic Powers are all industrial. Each will want access and control over RAW MATERIALS and MARKETS. raw materials: . Markets:. Q: What might happen when industrial nations want what NON-industrial nations have? What effect will the “industrial vs. NON-industrial tension” have on the world?. A fresh look at how three important twentieth-century British thinkers viewed capitalism through a moral rather than material lensWhat\'s wrong with capitalism? Answers to that question today focus on material inequality. Led by economists and conducted in utilitarian terms, the critique of capitalism in the twenty-first century is primarily concerned with disparities in income and wealth. It was not always so. The Moral Economists reconstructs another critical tradition, developed across the twentieth century in Britain, in which material deprivation was less important than moral or spiritual desolation.Tim Rogan focuses on three of the twentieth century\'s most influential critics of capitalism-R. H. Tawney, Karl Polanyi, and E. P. Thompson. Making arguments about the relationships between economics and ethics in modernity, their works commanded wide readerships, shaped research agendas, and influenced public opinion. Rejecting the social philosophy of laissez-faire but fearing authoritarianism, these writers sought out forms of social solidarity closer than individualism admitted but freer than collectivism allowed. They discovered such solidarities while teaching economics, history, and literature to workers in the north of England and elsewhere. They wrote histories of capitalism to make these solidarities articulate. They used makeshift languages of tradition and custom to describe them until Thompson patented the idea of the moral economy. Their program began as a way of theorizing everything economics left out, but in challenging utilitarian orthodoxy in economics from the outside, they anticipated the work of later innovators inside economics.Examining the moral cornerstones of a twentieth-century critique of capitalism, The Moral Economists explains why this critique fell into disuse, and how it might be reformulated for the twenty-first century. labour. , natural resources, and entrepreneurship are controlled and regulated by private businesses.. In a capitalist economy, the production of all the goods and services is dependent on the demand and supply in the market that is also known as a...