Wednesday, January 13, 2010

Is Capitalism Moral?

Certainly not the way it's practiced nowadays.

in reference to:

"Q: If capitalism isn't greedy, then why do some companies charge exorbitant prices for critical products like gasoline and lifesaving drugs? Aren't they gouging to reap excessive profits? A: Profit is a critical indicator of consumer demand and the only way to ensure that there will be a sufficient supply of anything. By the way, profit is among the smallest components of drug and oil prices. When gasoline prices soared between 2004 and 2008, people were enraged by the profits being made by oil companies. A Gallup poll found that more Americans believed the high price of gasoline was due to oil company greed rather than to other factors, including the Middle East conflict. Politicians from California senator Barbara Boxer to then New York senator Hillary Clinton called for measures to "get tough" on "Big Oil." Vermont senator Bernie Sanders sputtered in an editorial: "Exxon-Mobil has made more profits in the last two years than any company in the history of the world.""
- Is Capitalism Moral? - Forbes.com (view on Google Sidewiki)

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