Communitarian Identification
of Flaws in Unrestricted Capitalism
(Carl Cohen:
The history of capitalism is a history of slavery, child labor, war, and
environmental pollution.)
1. The tragedy of the commons I: environmental degradation (the “end of
nature”).
2. Profits maximized by economies of scale (big is better); the drive to
monopolization (market freedom as, in the long run, self-defeating).
3. Exploitation of human needs (advertising as exciting baser drives;
commercialization of every dimension of life)
4. The inhumanity of markets
a. cycles of boom and bust
b. unemployment (endemic at all times; excessive in the
bust phase of a business cycle)
c. inflation
d. war (business as war, literally as well as
figuratively)
e. occasional insanity of markets: e.g. the Great
Depression
5.
The tragedy of the commons II: loss of cooperative opportunities (in science,
art, exploration, education, etc.).
6. Unjust distribution
of wealth
a. unlevel playing field: questionable justice of
inheritance, etc.
b. unfair system of distribution (labor as a commodity)
7. Encouragement of
selfishness.
Alleged merits of
(unrestrained) capitalism:
1. Liberty
2. Efficient
allocation of resources (prosperity)
a. personal incentive
b. privileged perspective
c. the efficiency of demand
Mainstream
communitarian (i.e., socialist) recommendations:
1.
Unjust distribution of wealth rectified by social welfare programs, inheritance
taxes, graduated income tax, etc., and programs such as public education aimed
at equal opportunity
2.
Encouragement of selfishness mediated by co-operative programs
3.
The commons as a cooperative venture (in education, etc., as well as in environmental
regulations: everyone comes out ahead)
4.
Monopolization prevented by anti-trust laws.
5.
Inhumanity of the market.
a. cycles of boom and bust met by government stimulus
programs, regulation of the money supply
b. unemployment met by unemployment insurance, job
training programs
c. inflation corrected by regulation of the money
supply
d. pollution controlled by government regulations
e. war checked by fair business codes and international
law
f. harmful advertising regulated or banned
6.
Insanity of the market (e.g. the Great Depression) mitigated by activist
government
Liberty within the limits
imposed by making possible the realization of other values, including, in some
cases, greater liberty itself (e.g., the discipline of education).