capitalism and freedom by milton friedman

The ethics of care is relevant to economic theory in two ways. This, however, need not be viewed as a flaw of the ethics of care since, I contend, it is more plausibly construedĪs a flaw of the predominant economic system. The claim that it is inconsistent with the predominant economic theory, on the other hand, I argue that the claim that the ethics ofĬare is irrelevant is misguided. To be, at best, irrelevant and, at worse, inconsistent with this economic theory. The ethics of care, on the other hand, emphasizes personal relationships among individuals in their communitiesĪnd takes interdependence as a necessary condition for achieving individual interests. These relations are often justified by traditional moral concepts such as justice, equality, The predominant economic theory in the United States and most of the developed world emphasizes competitive relations among Bill Clinton, for example, latest Democrat to be President of the United States of America, asserted:

Thus, capitalism and democracy have been described as the two sides of one and the same project for human emancipation, colouring the ideology and the political agenda of governments left and right, and showing how deeply neoliberal beliefs have become part of the dominant public mindset.

Often, 'capitalism' has been rephrased as 'free trade' or 'free market', and coupled regularly with 'democracy', this term denoting the political system that is believed to better entrench and promote 'freedom' or 'autonomy'. Capitalism and freedom is not only the title of a 1962 book by Milton Friedman playing a pivotal role in asserting worldwide the neoliberal paradigm, but also the slogan that leading statesmen, politicians and opinion-makers have been heralding in recent years, in order to justify, amongst other things, the slashing of welfare states and the invasion of foreign countries.

Capitalism and freedom by milton friedman