The Free Market Is Immoral Essay

929 Words Jul 29th, 2015 4 Pages
The question of whether or not the free market is immoral begs the question of whether a system of trade can have morals in the first place. Capitalism, or the free-market, cannot be inherently immoral, but people do have the freedom to engage in immoral behavior within the free-market system if they so choose. Another way of asking whether or not the free-market is immoral is to ask how participation in the free-market both supports and corrodes our sense of morality.
Capitalism, as an economic system, cannot be inherently moral or immoral. A free-market economy is amoral. The free-market exists as a means to balance the supply and demand of resources in the most efficient way possible. Capitalism, the least restrictive system of trade used today, is an exceptionally efficient system to balance supply and demand on the transactional level because prices can adjust quickly and with as few regulations as possible. Since the free-market economy is amoral, capitalism can be considered successful as long as wealth is growing regardless of the living conditions or happiness of the workers. Participation in the free market can be corrosive to our sense of morality. First, the free-market inevitably leads to class conflict. Marxian economics follows the labor theory of value which describes that the value of any good depends on how much labor it took to produce that good. Classical economists would agree, but Marxian economics takes it a step further and suggests that if a worker…

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