Foner's Capitalism and Morality Foner's Term Paper

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In fact, the misnomer 'money is the root of all evil" originates from St. Paul (Johnson, 1987). In a practical sense, money can be the root of much good too. See, for instance, all the effects of philanthropy that are wrought in the world. Arguments can be ferried back and forth regarding the value of social beneficence to developing countries, but the root of the matter is that people would be far poorer, more illiterate, fewer in number, and less happy without the aid that wealthy individuals and countries supply it. There have been numerous stories of wealthy, scrupulous, extremely religious individuals who benefited the world without distracting one bit from their religiosity. Abraham, founder of the Christian religion (via the O.T), is an example in kind. He was extremely wealthy. And although capitalism in its technical sense did not then exist, capitalism in Adam Smith's sense of the world always existed. Competition and facility in deception and other money-involving corrupt stratagems existed then as it does now.

In a practical sense, man needs money in order to live. Capitalism -- which is based on the accurate prediction that competition increases quality of service and product as well as motivating one to work -- helps one gain this money.

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There are various ways of producing money, and most of them - such as education, law, the police system, or the medical field can be praiseworthy in intent. Capitalism does not necessarily denote immorality. Nor does it necessarily denote morality. Men have bred cattle with honor; they have received opprobrium for sowing grain and development. There is little difference, if any, between these fields and between attempting to make money work for them. As long as this were done within honest and scrupulous constraints

Reference

Foner, E: Freedom, Capitalism and Morality. YouTube.

http://www.youtube.com/watch?v=X1Ga7YC11uM

Johnson P. Enemies of Society. Athaneum, New York, 1977.....

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