Comments on: Capitalism Greed — Capitalism = Service

By: Ram Krishnamurthy

Ram Krishnamurthy — Fri, 26 Sep 2008 00:04:46 +0000

Dear Mr Merkel
I thank and applaud you for writing this. I have been a reader of your blog for a long time. When i read your post today, it resonated with values and ethics that we all learnt and grew with up, but somehow lost among our leaders in this world of cut-throat business and politics, entirely due to greed.

By: David Merkel

David Merkel — Thu, 25 Sep 2008 20:52:06 +0000

Duncan, I like what you have to say, and next time I write something like this, I will reword it. The thing is, both are true, and complement each other. Competition, if allowed to work, drives those who don’t deliver high-quality (or low prices) to customers out of business, and promotes those who do deliver value.

Capitalism gains practical moral legitimacy when it causes businessmen to deliver high-quality service to customers. But capitalism is morally legitimate in spite of bad capitalists and cronies that abuse the system.

By: Duncan

Duncan — Thu, 25 Sep 2008 19:31:11 +0000

You write:

“Capitalism has moral legitimacy because it causes businessmen to deliver high-quality service to customers….”

I would agree if you had written: Capitalism has moral legitimacy WHEN it causes businessmen to deliver high-quality service to customers.

By: tv

tv — Thu, 25 Sep 2008 16:09:35 +0000

Youre my write in candidate for Tsy Sec or Fed Chairman

or Oversight Czar of both.

By: complacent panda

complacent panda — Thu, 25 Sep 2008 15:17:12 +0000

An elucidating definition: "Excessive desire to acquire or consume more than is reasonable or deserved."

By: Aaron

Aaron — Thu, 25 Sep 2008 14:39:48 +0000

Fantastic post and great statement, “Capitalism isn’t about greed, it is about service.”

I’m a pastor and have wondered whether Adam Smith saw a connection between his views and the Year of Jubilee which was supposed to be one of the foundations of ancient Israel’s economy (see Leviticus 25). I bring this up because “Wealth of Nations” seems to be taken from a Messianic passage about the Jubilee, “But you will be called the priests of the LORD; You will be spoken of as ministers of our God. You will eat the WEALTH OF NATIONS, And in their riches you will boast” (Isaiah 61:6; cf. Deuteronomy 8:18; Isaiah 60:5,11).

Interestingly, Jesus took Isaiah 61 as one of the themes of His ministry (Luke 4:17-21) and Jesus was most certainly against greed and emphasized service.

Can anyone shed some light?

By: dyork

dyork — Thu, 25 Sep 2008 11:20:37 +0000

Beatifully said! I couldn’t agree more.

Entrepreneurial capitalism delivers value and service to customers, and prosperity and purpose to employees. The rewards so gained for owners are typically modest compared to the risk assumed and the value provided to others, particularly in smaller businesses.

I had no idea you were of such a philosophical bent. Keep up the great work!

By: caleb Mardini

caleb Mardini — Thu, 25 Sep 2008 07:52:54 +0000

This is very interesting, thank you.

I think this is a good way to be succesful when acting as a capitalist, but i’m not sure it’s what capitalism is about as opposed to the form many would like it to take.

I find this post inspiring and will use it in my life.

Thank you.

By: Wayne

Wayne — Thu, 25 Sep 2008 06:25:00 +0000

Serivces also make the service provider’s life more meaningful and fufilling.

Thanks for sharing your observations, thoughts and insights.

-Wayne