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Does the Capitalist Free Enterprise System Improve Justice in Society

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Does the capitalist free enterprise system improve justice in society? In what way does it do so? In what ways does it not? Explain and defend your overall conclusion?

“Capitalism can be defined ideally as an economic system in which the major portion of production and distribution is in private hands, operating under what is termed a profit or market system (Shaw, Barry, & Sansbury, 2009, p.127).” Over the many centuries, capitalism has evolved from the emergence of capitalism during fifteenth and sixteenth centuries, mercantile capitalism, financial capitalism with the increased industrialisation and the intensified competition, to today’s globalised capitalism. Although, the names used to describe capitalism have been changed over the time, the dynamic nature of laissez-faire (to let people do as they choose) (Shaw et al., pp.131) in capitalism has never been changed. We have to admit that the free enterprise system has created the greatest productive power in all of our history and become the most influential socioeconomic system in the world.

It is important that we understand the characters of the capitalist free enterprise system and how does this system work for our economy and society. Therefore, we are able to judge whether the capitalist free enterprise system improves justice in our society based on the moral principles. In the following paragraphs, it lists out important features within the capitalist free enterprise system and analyzes its strengths and weaknesses. Afterward, it provides some solutions to improve the justice within the capitalist free enterprise system. In the end, judgment is made based on the facts discussed and three moral principles (Utilitarianism, libertarianism and the theory of John Rawls).

• Invisible hand

The important feature of the capitalism is that companies pursue to maximize profits through market…...

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