Moral Economic System - 537 Words

Introduction Creating a moral economic system should be the ultimate goal of every society. A moral economy is one that is founded on the principles of justice, fairness and goodness. A moral economic system ensures equitable allocation of resources which are scarce in nature and configures markets to ensure that they run fairy. The end results are to realize a stable economy that is free from exploitation, political insecurity and wars. A moral economic system fosters peace and satisfaction among the citizens of a nation (SEA, Browne, Milgram, 2009). It also creates a level ground for fair competition among various economic drivers reducing negative rivalry that is retrogressive to economic development and welfare hence the general improvement of the gross domestic product. A good GDP creates a good environment to run economic activities which leads to the increment government revenues and improvement of the infrastructure. Free market and Capitalism In a free market, the market is left under the control of demand and supply. However, this can be taken advantage of by the capitalists who are out to leap the best from the economy. The profit maximization that prevails in a free market is a threat to the move towards a moral economic system (SEA, Browne, Milgram, 2009). This is because capitalist have always found immoral ways of interfering with the market forces of demand and supplies. For example, hoarding of goods have been a common practice in free markets creatingShow MoreRelatedIs Capitalism Moral Essay800 Words   |  4 Pagesof employees, this makes him help a lot of people get employed. 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