Ethics and Capitalism

Despite the great economic advantage of capitalism - that it is an efficient system of production and distribution - capitalist societies struggle with its by-products of poverty, exclusion, corruption, and environmental destruction. The essays in "Ethics and Capitalism" address the question of ensuring ethical and just societies within a capitalist system without sacrificing productivity. The introductory essay is a guide to the issues in the emerging field of ethics and capitalism, and refers to recent contributions from several disciplines. The collection as a whole evaluates the morality of capitalism by looking at its foundation in property theory, its relationship to democracy, the problems of corruption and globalization, as well as the impact of capitalism on non-European cultures and the environment. Contributors consider various ideological and cultural biases that affect our understanding of capitalism. It is the aim of the collection to defend the practical merits of capitalism while raising concerns about its ethical problems. In conclusion, the volume considers the possibility of a mitigated form of capitalism that would ensure economic efficiency and productivity while avoiding ethical pitfalls.