The Imperative of Regulating Capitalism, Not Stopping It

One might mistakenly believe that the challenge lies in fully eliminating capitalism from our economic systems. However, the reality is far more nuanced. Capitalism, as an economic system deeply intertwined with human nature, is not something that can be stopped, but can and must be regulated effectively. This article explores why fully halting capitalism is not feasible, the role of human rights in curbing capitalist exploitation, and the importance of a philosophical foundation for the capitalist system.

Can Anyone Stop Capitalism?

Statistically, no one can completely stop capitalism everywhere. Even in the most stringent or totalitarian regimes, some form of capitalism must permeate to ensure basic survival for those in the system. The idea of completely halting capitalism is akin to the notion of socialism eliminating capitalism; both are practically and philosophically untenable.

The more pertinent question is not whether capitalism should be stopped, but why anyone would want to eliminate what fundamentally makes humans strive for better living conditions, autonomy, and financial security.

Why Stopping Capitalists?

While capitalism itself cannot be stopped, the exploitation by capitalists can and should be stopped. Individuals and communities can and do play a role in preventing such exploitation by refusing to support corrupt or exploitative capitalists.

Some argue that to truly stop the exploitation, one would need to fundamentally alter human nature. For instance, a biotech engineer might need to change the way our brain functions to eliminate the desire for wealth and power. However, such an option is not only highly improbable but also ethically questionable.

Relevance of Regulating Capitalism

The need is not to stop capitalism, but to ensure that it operates within fair and just parameters. Government regulation is crucial in this regard. For example, our at-will employment laws and unemployment compensation systems are riddled with inequalities, leading to poverty and homelessness. Protective welfare clauses exist, but they need to be more robust to cover these issues effectively.

A Philosophical Foundation for Capitalism

Today, capitalism is justified on utilitarian grounds, with roots entrenched in the US Constitution and democratic principles. However, it lacks a deontological foundation, which is why it is still prone to abuses. The lack of this philosophical base is exposed in countries like Venezuela, where the absence of proper regulation has led to a failed socialist experiment that has collapsed.

The Socialist movement, often promoted by certain Democratic factions, advocates for a constitutional change to a socialist country. While the idea of a more equitable economic system is noble, this change would inherently mean the cessation of certain capitalist principles. However, simply changing a constitution is not enough. A sustained effort is needed to establish a strong philosophical foundation for a fair and regulated capitalist system.

In conclusion, rather than stopping capitalism, the focus must be on improving regulation, ensuring human rights, and providing a sound philosophical justification. This balanced approach can lead to a more equitable and prosperous society for all.