Capitalism Versus Altruism
Radio Q&A: Sunday, 29 July 2012, Question 4
In the live broadcast of Philosophy in Action Radio on 29 July 2012, I answered a question on capitalism versus altruism.
Is capitalism altruistic? Some people attempt to defend capitalism and free markets on altruistic grounds. Under capitalism, they say, a successful businesses must serve the needs of its customers. Hence, capitalism promotes altruism. Is that true? Is it an effective way to defend capitalism?
My Answer, In Brief: Capitalism is not altruistic. Altruism is when a person seeks a net loss, whereas egoism is when a person seeks a net profit. Capitalism enables trade to mutual benefit, meaning net profits for everyone.
- Download: MP3 Segment
- Duration: 9:05
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About Philosophy in Action Radio
I'm Dr. Diana Hsieh. I'm a philosopher specializing the application of rational principles to the challenges of real life. I received my Ph.D in philosophy from the University of Colorado at Boulder in 2009. My dissertation defended moral responsibility and moral judgment against the doubts raised by Thomas Nagel's "problem of moral luck."
My radio show, Philosophy in Action Radio, broadcasts live over the internet on Sunday mornings and Wednesday evenings. On Sunday mornings, I answer four meaty questions applying rational principles to the challenges of real life in a live hour-long show. Greg Perkins of Objectivist Answers co-hosts the show. On Wednesday evenings, I interview an expert guest about a topic of practical importance.
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