RE: Capitalism: Greed vs Giving

As you mentioned in your Greed as the Driving Force of Capitalism paragraph, the ultimate determinant of capitalism is competition and self-desire. In this market structure, entrepreneurs and businesspeople are driven by their ability to collect their treasure based on their own success. You made an interesting point highlighting the physical and negative mental effects this may have on individuals and society. Later, you mentioned,

First, entrepreneurs who are concerned about profit can cut corners, leaving the consumer with a lower quality product. This is not bettering society in the way that free transactions are designed to do. These entrepreneurs will also be looking to deceive the consumer in whatever manner possible to keep them happy and turn a profit.

While I agree with your viewpoint, putting an entrepreneur’s complete focus on business profits is an unwise approach, I do not believe this will cause the individual to cut corners. A capitalist mindset will cause a CEO to make the most cost-efficient, productive decision for their company. In most cases, this will not allow for corners to be cut. This is because while businesses may test cheaper alternatives, ultimately the consumer dictates the market. More times than not, consumers look for higher quality products which require higher quality production.

However, on the other hand, I do agree that these masterminds are willing to manipulate their customer base for their own financial benefit. These high-level businesspeople deeply study their audience. As a result, they play different business and marketing schemes to trick their customers. Oftentimes, once they begin to see success in this approach, they believe they understand their customer base more than anyone else. This can cause them to continuously cut corners and make selfish decisions that may lead to their own demise. Thus, why I agree with your overall message, their obsession with wealth can simultaneously stand as their biggest advantage and disadvantage. As you mentioned, greedy entrepreneurs are more than capable of becoming successful. Oftentimes it is this same infatuation with success that has landed them in their place of power.

Despite this greed, the true outline of capitalism comes in providing gifts through exchange. Through tradeoffs, we supply one another with different items that satisfy both sides. If both parties feel they equally benefited from the barter, they will continue to do so. This continuously swapping across all platforms is what boosts the economy. Therefore, under capitalism, if all entrepreneurs and consumers adopt this frame of mind, the economy will flourish, and everyone will be happy.