1994Unpublished venueRequires access

Is there a correct answer?

D. W. Haslett

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Abstract

Abstract The critics of capitalism see the vast differences in wealth and opportunities between rich and poor that this system breeds, they see the unfair burdens that it places upon ordinary working people, and they conclude that capitalism cannot be justified. These vast inequalities and unfair burdens are indeed grave, moral deficiencies of capitalism, as it exists today. Can, however, these deficiencies be overcome, without abandoning capitalism and its traditional strengths? Or, as the critics contend, should we turn instead to some form of socialism; if not to central-planning socialism, which has fallen out of favour recently, then perhaps to market, or worker-control socialism? These are the questions to which this book is addressed.

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What this paper is about

Abstract The critics of capitalism see the vast differences in wealth and opportunities between rich and poor that this system breeds, they see the unfair burdens that it places upon ordinary working people, and they conclude that capitalism cannot be justified. These vast inequalities and unfair burdens are indeed grave, moral deficiencies of capitalism, as it exists today. Can, however, these deficiencies be overcome, without abandoning capitalism and its traditional strengths? Or, as the critics contend, should we turn instead to some form of socialism; if not to central-planning socialism, which has fallen out of favour recently, then perhaps to market, or worker-control socialism? These are the questions to which this book is addressed.

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Available abstract

Abstract The critics of capitalism see the vast differences in wealth and opportunities between rich and poor that this system breeds, they see the unfair burdens that it places upon ordinary working people, and they conclude that capitalism cannot be justified. These vast inequalities and unfair burdens are indeed grave, moral deficiencies of capitalism, as it exists today. Can, however, these deficiencies be overcome, without abandoning capitalism and its traditional strengths? Or, as the critics contend, should we turn instead to some form of socialism; if not to central-planning socialism, which has fallen out of favour recently, then perhaps to market, or worker-control socialism? These are the questions to which this book is addressed.

Key concepts: Capitalism, Socialism, Neoclassical economics, Inequality, Control (management), Market socialism, Economics, Political economy

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