Page 22 - Msingi Afrika Magazine Issue 28
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capitalism. The best we can do is weed out
The same principle of the elements of capitalism that are becoming
capitalism works in an impediment to morality and the refinement
agriculture and innovation. of our species. The problems of capitalism are
There is an increasing revealed when we try to apply the principle in
number of cash crop all spheres beyond economics.
producers and flower
exporters in developing Legion are the miscalculations and wrongs
countries while these done around the world in the name of
countries suffer from food capitalism. They mostly occur when we
insecurity. make economic reasoning in areas that
require morality and justice. Adam Smith is a
prominent figure in the field of economics, yet
The state and the federal law of America did he fails to attain the same status in other areas
not prohibit price gouging or competition primarily because he forgets human greed. In
between government agencies. This was The Wealth of Nations, Adam Smith argues:
simply how capitalism works and it is no
one’s fault! On the other hand, the Chinese “When the landlord, annuitant, or monied
Alibaba co-founder Jack Ma took another man, has a greater revenue than what he
approach than what the capitalist creed judges sufficient to maintain his own family,
dictates. He has sent 500,000 testing kits he employs either the whole or a part of the
and one million masks to America. Alibaba surplus in maintaining one or more menial
has done this not only for the US but also to servants. Increase this surplus, and he will
Europe, Africa, and any other continent or naturally increase the number of those
nation struggling against COVID-19. This test servants.”
of reality manifests how capitalism stands as
a barrier to humanity or morality. This argument is made to make us believe
that as the capital increases, which is what
When we see a communist country like China defined capitalism, the more people the
act properly or morally and a capitalist nation person will employ and so everyone will
like America act improperly or immorally, profit. But this is not always true since some
we might assume communism is better than become hoarders and greedy as their capital
capitalism. This is not my line of argument. I increase, to finally become a monopoly. As
will not defend communism for its sacrifices Yuval Noah Harari points out Sapiens under
of the creative and strong for ‘the common the chapter ‘The Capitalist Creed’ shows
good.’ However, the fact that communism is how Adam Smith is revolutionary with this
wrong does not make capitalism, with all its statement because he came up with not just
flaws, right. I agree that capitalism is the best an economic but also a moral and political
economic reasoning compared to the other perspective – “egoism is altruism.” Harari
theories history presents us. Unless we find a shows how capitalism became as an ethic
better economic approach, we are stuck with
of life by saying, “Its principal tenet is that
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