Our first principles debates bring people from different ends of the spectrum together to discuss basic political convictions. That doesn't mean there isn't common ground. Below, as we discuss capitalism, we ask you to submit two pros and two cons -- no matter where you stand. Answering all four questions is required!
prolific production
savagely exploitative
suffrage vehicle for change
immorally polutes
The major strength of Capitalism has to do with the fact that it hinges upon the most basic human instincts: self interest; self promotion; putting oneself before others and this basic structure, framed within the appropriate socio-political contest of legality and respect of the rules, becomes a powerful way this self-interest ends up creating "added value" for society at large.
While the success of capitalism is based on this basic human instinct of self-promotion, the line dividing self-promotion from prevarication is thin. Capitalism ends up fostering success for those people who have a tendency to prevaricate and impose their self-interest: an ability that served us well as a specie when we were competing for food and resources in the wild but that could have catastrophic consequences now, given the level of complexity and interconnectedness of our societies.
The second pro would be Capitalism's flexibility to adapt to the ever-changing circumstances of society. By creating added value Capitalism has been successful at providing for society's basic needs for food, shelter etc. The resolution of these basic needs in turn, has created a society that expresses now different values and needs to which the structure of Capitalism is quick to respond, thus showing a great degree of self-regulation.
In its current incarnation, capitalism is strictly linked to the environmentally unsustainable concept of "Constant growth". Most firms' chief goal is to perform better than previous year thus creating a situation where capitalism is no longer responding to the satisfaction of "real" needs but is actually creating new, more superficial ones: things are now created/invented not because they are "needed" but only because so they can be sold. This growth for the sake of growth is tipping the ecological balance of our planet.
Protects individual rights by making force and fraud illegal
It is difficult to define and protect individual rights and capitalism only works when rights are well defined and protected
Encourages independent thinking
A defense of capitalism requires a defense of egoism, which is difficult and nuanced
creates wealth and prosperiety
Capitalism has created a corporatocracy in this country.
creates innovation
Requires continual growth of company profits regardless of its moral costs
Creates Jobs
Has no Conscience
Creates competitive markets
Destroys the environment
Acknowledges sum of accumulated capital is primary determinant of prosperity
All markets tend to thin out over time, leading to captive state institutions and oligopolistic markets.
Not planning intensive. Does not require centralized management or turn every decision into a policy football.
Confutes social interest of society in capital accumulation with general social interest of society.
In the short term, allows us to prioritize allocation of resources for endeavors
Falsely belief that private industry will naturally regulate themselves in a way that does society good
Encourages individuals to seek new sources of profit
If humans want dignity with their existence, they should pay for it preferably with cash.
Capitalism is amoral.
Capitalism is amoral.
Capitalism requires that people take personal reponsibility for actions.
Risk-taking in capitalism often leads people not to take personal responsibility for their actions,
Breeds invention.
Often establishes profit as number one concern.
Rewards efficiency.
Employees can be looked at in terms of the profit they produce.
innovation when competition is kept robust
Prone to cronyism which blocks competition
Can be dynamic for certain classes of goods, but fails for public goods and infrastructure
Degradation of family life results from asset speculation bubble busts and too much capital getting behind the lemmings
scope for individuals to achieve their dreams
individuals do not act in self-regulating manner; pie size is limited, when one individual gets in at the expense of others
meritocracy - rewards are linked to effort and ability; society benefits when individuals follow their passions
inbuilt biases - everybody does not start with same advantages (example: having access to financing to start a business)
