Word: capitalisme
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During the past year a group of American, Canadian and British theologians conducted a long-distance debate on the moral justification of capitalism. The majority concluded it offers greater moral freedom than any other economic system. Said Anglican Edward Norman: "Capitalism is full of minor evils, existing beneath the umbrella...
While tackling the herculean tasks, capitalism must demonstrate anew the daring and flexibility that were once its hallmarks. Plainly, capitalism is not working well enough. But there is no evidence to show that the fault is in the system ? or that there is a better alternative. Though neither comfortable...
(2 of 17) capitalism working well enough? Can the system suffer and survive these problems? Can it be repaired or is it fatally flawed?
One might be tempted to say: What else is new? The free enterprise system has been constantly questioned and condemned ever since that absent-minded Scots professor Adam Smith, another revolutionary of 1776, enunciated its basic philosophy. But today's doubts are deeper and the assaults more virulent. They come...
Critics and champions alike once recognized capitalism's remarkable vitality and adaptability, but those qualities seem to be declining. Says Stanford Economist Tibor Scitovsky: "The joints of that once wonderfully flexible structure are becoming more and more calcified and rigid."