"The moral justification of capitalism is man’s right to exist for his own sake, neither sacrificing himself to others nor sacrificing others to himself."
– Ayn Rand
Definitely more than one moral justification for capitalism, but this is certainly a top one.
For capitalism to work and not lead us where we currently are, with a handful of extremely rich people trying to take over the globe, we need a level of awareness in people which we are quite far from still, I'm afraid.
I suspect that when we do get to that level of awareness, the social order will become largely irrelevant?
Capitalism & free markets don't allow for monopolies on power. These global power hungry people always existed, but their dreams couldn't have been realised without money that they controlled. Fiat currencies have enabled this.
The problem isn't the rich, the problem is the central planning of human action. Hard money upsets this imbalance of power. It levels the playing field so that we are operating under the same rules.
I hope that this leads to a shift in consciousness & our manifested reality. It will certainly allow for pockets of humans to shift.
How does capitalism & free market prevent monopolies? What may prevent them is human awareness, given freedom from state manipulation. Without such awareness, whoever has money will find it easier to make more money,exponentially even without help from the state.
I would add that a free market is free agency and property rights for all. Following the ideas of John Locke, every individual owns themselves, their mind, body and the fruits of their labor.
The process of a free market is voluntarism and competition, without the initiation of the use of force.
Following from this, central banking and moneyprinting is a corruption of capitalism, an inversion of a free market.
Under a free market there is competition in money and individuals are free to choose, without pressure or coercion, the money that serves them best. Over time, hard, neutral money that can't be printed will be favored in the market due to the inflation of the printable monopoly money. The demand for worthless paper will trend toward zero.
This is not an instant process under a system of exploitative central planning. Because in a central planning system there is always deep uncertainty regarding what kind of new, oppressive regulations might be waiting around the corner. This uncertainty of how the government's use of force is going to impact markets in the future will naturally cause irrationality and misallocation of capital.
Bitcoin solves the problem of moneyprinting and central banks, over time, by outcompeting them and making their monopoly money irrelevant.
As moneyprinting becomes less and less profitable for the exploitative class, wars will no longer have limitless funding and citizens will reject paying for extensive wars via taxation. When the costs of war increases and it can no longer be used as a profitable machinery of governmental money laundering, the case for warfare becomes a difficult narrative to manage.
Yes - it's simple & it resonates.
Capitalism is a fairer way for humans to express their unique preferences.
