Why Doesn't Capitalism Work for Everything?
Debra Satz, Professor of Philosophy at Stanford University, joins David to discuss her new book, "Why Some Things Should Not be for Sale: The Moral Limits of Markets"
What goods and services should not be for sale?
My video is at DLive
Human nature. If everyone was good at making money and altruistic, it would work. Since those things are not both true of everyone, and since the deck is stacked to favor some over others, capitalism needs a bit of a helping hand.
The term "Free Market" is so outdated. A better one would be regulated/unregulated market. As professor Satz points out all markets are social constructs were trade is regulated by social norms (and/or by state actors). It has to be pointed out that "moral limits" on what can be the object of trade evolves over time. Not so long ago (in historical terms) slavery was viewed in a different way.
yeah I think this is accurate
The problem with capitalism is the rent motive afforded by the state apparatus. There are various unseen subsidies to the politically savvy business leaders that go unmentioned in the mainstream press because it's inconvenient to their narrative. Historically capitalism has always been this way. A truly free market wouldn't look anything like what we call capitalism. It would more than likely result in a peer-to-peer economy.
Well according to the Randbots, capitalism is perfect and peachy keen.