Lesson 14 Lesson 14: Justifying Income, Wealth, and Capitalism
Presented by: Dr. Anne Rathbone Bradley
George Mason University
Capitalism, Morality, and Income Inequality
In this lesson, we ponder the morality of our mixed economic system. By “mixed,” we mean that our economy is the result of private individuals, families, and firms as well as government acting in markets. For want of a better term we can call this economic system “capitalism.” Here’s the question: Is capitalism moral or immoral? Students will examine measurement distinctions necessary to evaluate claims about inequality. They will be able to illustrate arguments on either side of the redistribution question, and they will have insight into the sociology of moral consensus in favor of or opposed to capitalism.
Key Concepts: (1) Income Distribution, (2) Gini Coefficient, (3) Poverty, (4) Democratic Capitalism, (5) Equality, (6) Bourgeois Virtues
Learn More
P. J. Hill, “Creating and Distributing Wealth: Whose Responsibility?” Wealth, Poverty, and Human Destiny, pp. 1-18.
Read NowIrving Kristol, “’When Virtue Loses All Her Loveliness: Some Reflections on Capitalism and the ‘Free Society’,” Two Cheers for Capitalism, pp. 255-270.
Read Now“Myths of Income Inequality” with Thomas Sowell and Peter Robinson of the Hoover Institution
Watch NowConservatism and the Real Problems of Income Inequality” by Patrick M. Garry in Modern Age: A Conservative Review
Watch Now“There Is Only One Way Out of Poverty” with Arthur Brooks of the American Enterprise Institute and Prager U.
Watch Now“World Poverty: Foreign Aid vs. Charity That Actually Works” with Matt Zwolinski and Learn Liberty
Watch Now