The Morality of Capitalism

Capitalism is winning the economic battle all over the world. The collapse of socialism has left it without serious challenge as a wealth-creating system. But moral criticism of capitalism continues. Even its defenders often deny that it has any moral foundation, or worry about whether its success puts important moral values in jeopardy. James Q. Wilson believes that the moral concerns about capitalism are unfounded. He argues that capitalism depends upon important moral values for its success, and in its turn helps to reinforce those values. He also explains that one of the virtues of capitalism is the way it empowers its critics. Only capitalism allows institutions to develop by which problems can be identified and corrected. Professor Wilson admits that we may not like all of the things capitalism produces, but he argues that this is just

Human nature revealing itself – capitalism is the system that lets people produce what they want.