The Morality of Capitalism

 

Click here to download the full PDF of The Morality of Capitalism, What Your Professors Won’t Tell You.

“Capitalism is a source of value.  It’s the most amazing vehicle for social cooperation that has ever existed.  And that’s the story we need to tell.  We need to change the narrative.  From an ethical standpoint, we need to change the narrative of capitalism, to show that it’s about creating shared value, not for the few, but for everyone.  If people could see that the way I see it, people would love capitalism the way I love it.”
- John Mackey, Co-Founder and Co-CEO of Whole Foods Market

As students for liberty, we are well-versed in defending the free market.  Our opponents on campus constantly claim that markets are unfair, that capitalism is exploitative, that competition is inhumane, and that government control and redistribution are the solution to society’s problems.  Every day we struggle to explain that a free society that embraces free exchange is the only way to create wealth, peace, and prosperity for all.

Most people acknowledge, if only begrudgingly, that capitalism does produce considerable wealth and material well-being. But many feel torn between material prosperity on the one hand and living a moral life on the other. The self-interested pursuit of profit that is characteristic of a capitalistic system just doesn’t feel right to them.

The task before us, then–if we wish to actualize the truly free social system that is laissez-faire capitalism–is to provide and defend its moral justification. We must convince fellow students that capitalism is not just the most efficient system, but a virtuous one as well.

Our role is to provide students with a new tool in the fight for liberty, a new book on The Morality of Capitalism, What Your Professors Won’t Tell You.  We will be printing 100,000 copies of this book for mass distribution on campus this fall along with hosting an essay contest on the topic.

This is not simply an American venture but an international one as well.  Our partners from Atlas and around the world will be creating videos, websites, and similar works in Arabic, Chinese, French, and many other languages.

Now is a critical time for young people around the world.  The recent financial crisis, which was falsely blamed on “the free market,” has led many students to question the status quo and look for alternatives. We have an opportunity to educate, to be that alternative, but we must no longer solely be on the defense.  We must be pro-active in spreading the message of free enterprise, free trade, and cooperation.  We must show our peers that only a true free market system creates the conditions for humanity to flourish.

The Book

“Love and friendship are the fruits of mutual benefit through cooperation, whether in small or in large groups.  Without such mutual benefit, society would simply be impossible.” – Tom G. Palmer

This fall we are distributing 100,000 copies of The Morality of Capitalism, What Your Professors Won’t Tell You to student groups around the world.  The book combines the writings of various philosophers, economists, Nobel Prize winners, and entrepreneurs to make the case that not only do “markets deliver the goods” as Vernon Smith says, but that a true free market system is a prerequisite for a just, prosperous, and cooperative society.

Click here to download the full PDF of The Morality of Capitalism, What Your Professors Won’t Tell You.

Not a student but still want to order the book?  Click here to make a donation to SFL to receive up to 5 copies.

The Essay Contest

The second part of the project is an essay contest open to any current student.  Submissions will be reviewed by a panel of liberty movement leaders from the academic and public policy fields.  The contest prizes will be:

• 1 Grand Prize: $1,000 and free registration for the 2012 International Students For Liberty Conference
• 1 Second Place: $200 and free registration for the 2012 International Students For Liberty Conference
• 8 Runners Up: $100 each free registration for the 2012 International Students For Liberty Conference

In order to participate, you must register for the contest (in advance of submitting an essay) no later than November 15, 2011.

The topic of the essay contest is: “Is free market capitalism a morally just system?  Explain your answer in terms of what standard it or any system of social institutions should be judged by: how well it helps the poor, its impact on the quality of life for the majority of people, respect for natural rights, overall economic efficiency, or some other standard”.  Top quality essays are those which make a compelling argument for their position supported by references to the text of The Morality of Capitalism.  Outside sources are acceptable and encouraged as well.

Requirements for the essay are:

• Microsoft Word Document
• Length: 500 – 750 words
• Double spaced
• Times New Roman font, size 12
• 1-inch margins
• Your full name in the name of the file
• Registration deadline: November 15, 2011
• Submission deadline: January 3, 2012

Anyone may enter the essay contest who is a student enrolled in high school, college, or graduate school during the Fall 2011 semester.

Click here to register for the contest now.

If you have any questions about The Morality of Capitalism essay contest please email Marissa Giannotta at mgiannotta@studentsforliberty.org.