Ethics

Though in the historical context there existed two fundamental forms of the societal organization, namely, Individualism and Collectivism, in the twentieth century, the Collectivism appeared to take different forms, such as Fascism, Socialism, Nazism, Communism and Welfare-statism, which have become the most common variations of this model. However, it is believed that the only social economic system commensurate to individualism is capitalism.

The unique level of material prosperity vested upon the capitalist system, over the last two decades is a matter of concern and a subject of historical records. However, very few people have always refused to support and defend the premise that capitalism is a morally uplifting economic system. It has become very fashionable among journalists, college professors and politicians of the modern world to sneer at this free-enterprise system by claiming that capitalism is callous, base, exploitative, alienating, dehumanizing and ultimately enslaving (Clark, 1997).

In theory, it is strongly believed that socialism is the only morally superior economic system, despite its very dismal record for failing to be practical in the real world. Thus, in contrast, capitalism is seen as being morally bankrupt, despite the very superior extraordinary prosperity it may have achieved and created over history. Therefore, capitalism can only be defended as the best social system on pragmatic grounds, and we only tolerate it in the world today, simply because it works.
Within socialism there exist a set of ruling class intellectuals, social planners and bureaucrats, who basically decide concerning what people want and, consequently, what is good for the entire society and, therefore, by the use of coercive power force vested in the state, they regulate taxation and the process of wealth distribution among those, who toil and work to earn their living.

The morality of socialism can only be expressed in two basic words, that is, self-sacrifice and envy. In this case, envy is perceived as an intrinsic desire projected towards possessing another persons wealth and more so, the desire directed towards seeing a another persons wealth being lowered to a certain extreme level commensurate to your very own. Therefore, socialism is seen as an economic social system, which institutionalizes self-sacrifice and envy and, in addition to this, makes use of compulsion coupled with organized violence vested in the state in order to expropriate wealth from the basic manufactures and producers and distributes it to the subsequent parasitical class (Amin Hudson, 2002).

Despite the existing intellectual psychotic socialism hatred projected to capitalism, it has been argued that capitalism stands and remains as the only just and moral social system above all. It is the only moral system which demands that human beings deal with each other as traders and rather free moral agents selling goods and trading services with one another on the basis of mutual consent.
Capitalism is, thus, the only just and moral social system, which gives a determined valuation in the exchange for things guided by voluntary free and universal judgment on the side of the rational consumer. Guided by the ideologies and the philosophical doctrines of a free market, the prescriptions of fraud and coercion are thus an integral part of a consumer focused system (Clark, 1997). The just and moral adventures of capitalism is embedded in the point of view that the principle place of mans use of his rational mind in determining the equilibrium point between the various market parameters is as a result of the incumbent of capitalism.

Principally, capitalism rewards by the remedy of achievement, merit and ability. The precept of struggle for ones survival, consequently, comes in, despite the contextual placement of a person in terms of life and birth status. Generally, capitalism is driven by the prospect of winning and loosing. Honest, thoughtful responsibilities, efficiency, industrious are the virtues that accompany the winning arm. On the other hand, imprudence, negligence, inefficiency and laziness characterize the losing side.

    Indeed, rooting out the merits and demerits of capitalism requires a splendid understanding of a candid human rationale. This is from the point of view that the merits of capitalism edge, at one hand, are to provide unfair advantages to certain people at the expense of the true situation at hand. Largely, capitalism reserves to reward for the hard workers. Generally, it is based on the principle that justice ought to prevail in the degree of efforts which individual persons put in their work (Amin, Hudson, 2002). It therefore, shelves its footage on the principle of hard work.

    Additionally, capitalism is the fueling censure towards competition. Behind competition there is the enclave of defect products and service prices that are doubled if they are of high quality. The freedom of choice found in the capitalist society encourages the freedom product choice, though at lower prices. Therefore, the consumer population is granted the right to personal choice.
The basic form of motivation, which promotes and sustains this kind of a social system is competition, which enhances economic growth by establishing and creating an open competition in the market, which indeed provides individuals with better opportunities for creating and raising their income and, consequently, achieving economic growth. Stiff market competition, therefore, results in decentralized economic system, and this is considered to be one of the most significant advantages of capitalism, as opposed to socialism.

In this kind of a social system, individuals become more open to a number of choices and options in business, from which they can choose accordingly to their preferences. The competition, thus, defines the pace for manufactures to produce the best to sustain their reputation in the market by drawing more clients, thus, creating opportunities for consumers to choose from and providing for them a wide range of opportunities for quality products, which match their preferences. When exposed to such complex and fierce competition, producers face different challenges, which indeed challenge them to seek liable solutions to assist them to stay in competition. Therefore, it is only in the capitalism economy where determination coupled with hard work is equally rewarded, consumers gain an access to regulate the market, which thus encourages individuals to work towards achieving financial freedom. Despite quality production of mass services and products, stiff competition among manufacturers promoted by capitalist free market leads to relatively fair prices for both commodities and services, which aim at targeting all types of consumers despite the diverse social economic disparities (Clark, 1997). Thus, cheaper products become eminent and excess in all consumer societies. Truly, free market economy runs smoothly and best in a capitalist social system. Both individuals and companies become very free to enrich their lives by making a wide choice of items and commodities, which seem to fit their interest. They become free in making personal choices and choosing those things which make them happy and enjoy life in a relatively fair and free manner.

A capitalist economy has best been known for being able to reward entrepreneurs and create new job opportunities. One very fundamental aspect, which entrepreneurs dread, is the government interventions in the socialist economy. Government regulations in the form of taxation have been seen as the means, by which social planners aim at restricting and punishing people for their contradicting ideas. Thus, taxes, regulations, welfare and minimum-wage laws, common in socialist systems, are all considered immoral, because they make use of coercive force vested in the government in order to organize human action and choice, which, indeed, denies  and inhibits  human freedoms towards making choices about the kind of life to lead (Amin, Hudson, 2002). Therefore, requirements for the success in capitalist markets are sought in a free society, which demands that ordinary citizens could only lead their lives in accordance to a given set of virtues namely, prudence independence, rationality and frugality.