James Lewis on Nostr: "Capitalism" as meant by its proponents is simply a market economy in which people ...

"Capitalism" as meant by its proponents is simply a market economy in which people are free to trade. However, as meant by its opponents it is a system set up to profit those already rich and powerful. These, being obviously opposed to one another, one system that is free and the other rigged, ought not be called by the same name.

The system that may be endorsed by the Faith is one of virtue. As most virtues, the bracketing vices are slightly skewed closer to one than the other. For courage looks more like recklessness than cowardice, so too does the virtuous system of business and commerce look more like "croney capitalism" than communism and socialism.

Where cowardice shrinks in face of danger and recklessness is heedless of it, courage takes danger into account and proceeds with right action regardless of potential or sure personal loss, injury, and death. Likewise, where socialism/communism shrinks from unequal outcomes for unequal economic participants, and corporatist/croney/anarcho- capitalism heeds not the hungry, the virtuous economic system will suffer the the poor to need the wealthy and respect the freedom of all. The virtuous system rewards the generosity of the wealthy, not punishing the wealthy for being greater contributors than the poor, nor punishing the poor for their need.