By: curiouscat

curiouscat — Thu, 21 Feb 2008 23:08:19 +0000

In the post, what is said to be fundamental to capitalism is that those that earn the money deserve it not those that inherit money. If there were no need for government taxes would not be needed, and thus there would be no need for inheritance taxes. Given a need for tax revenue the inheritance tax is the most capitalistic tax (much better than income tax and even than sales tax).

Second on morality and economics. The idea that morality is not part of the business world went about with the robber barrons a long while ago. The moral principles that take hold are those of the society, not some that spring forth from the philosophy of capitalism. It is silly to say that moral failures such as exploiting children, selling dangerous products, polluting the groundwater… are anti-capitalist.

Charity is rightly praised as the good and proper action of those who gain much from society.

Adam Smith was the Professor of Moral Philosophy at Glasgow University in Scotland from 1752-1764.

By: altiusmike

altiusmike — Tue, 19 Feb 2008 23:04:55 +0000

Charity is marginal and anyone who says it is important or fundamental to capitalism doesn’t understand the issue of morality. Altruism is the morality of Marxism and all other forms of collectivism. Capitalism is based on the sanctity of an individual’s right to their own life and the fruits of their labor – which naturally extends to their disposing of it as they see fit upon their death. It’s unfortunate that some of our most celebrated capitalists don’t get this. Bill Gates and Warren Buffet should be praised for their productivity and not their charity. In fact, they’ve done so much more for the poor and needy by making the profits they have. See Ayn Rand….

Comments on: Philanthropy on a Large Scale

By: curiouscat

By: altiusmike