Morality and Character Development: The Roles of Capitalism, Commerce, and the Corporation
Journal of Markets and Morality, Vol. 4, No. 1, pp. 94-111, Spring 2001
Posted: 8 Aug 2006
Capitalism is a system of voluntary relationships within a legal framework that protects individual rights against force, fraud, theft, and contract violations. Morality is impossible unless one has the freedom to choose between alternative actions without outside coercion. Since capitalism is based on freedom of choice, it can promote morality and character development - a key aspect of human flourishing. Commerce in a free economy not only requires but rewards virtuous behavior.
Keywords: capitalism, commerce, corporation, virtue, morality
JEL Classification: P16, A13, P12
Suggested Citation: Suggested Citation