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Capitalism
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Socialism
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Global Justice
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| Vote accessible to all; but many do not vote. Economic
power is narrowly concentrated in wealthy elite. No
secure income. |
Political and economic power are narrowly
concentrated in governing elite.
Secure income at whim of state
|
Vote and economic power are accessible to all.
All have secure incomes
|
Capital ownership concentrated in wealthy elite.
Money supply controlled for elite purposes.
Interest added to money.
Alleged ‘free market’ is unfree.
|
Capital ownership concentrated in a collective controlled
by bureaucratic elite.
Money supply controlled for elite purposes.
No market at all.
|
Capital ownership spread to all individuals in the
population.
Money supply used for benefit of all. Interest-free
money.
True free market works fairly for all.
|
| Capital incomes are beyond consumption
capacity of wealthy elite. Range of labor incomes |
Adequate and secure incomes from capital only for
governing elite. Low labor incomes. |
Adequate and secure capital incomes accessible to
all people.
Range of labour incomes
|
| Individualistic, atomistic system which ignores or
trivializes common good |
Collectivist system denies economic freedom and independence
of individual |
System based embodies principles of Justice |
Institutionalizes greed.
Corruption.
|
Institutionalizes envy.
Corruption.
|
Institutionalizes Justice.
Decency.
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| Materialistic ideology and system which ignores the
growing income insecurity of non-owning workers facing
displacement by technology or lower-paid workers |
Materialistic ideology and system based on all citizens
being absolutely dependent on the state for their income
security and well-being. Technological advance is hampered. |
Moral philosophy and system fosters the inalienable
right of every person to be a worker and an owner within
a Just society Technological advance is encouraged. |
| A labor-centric, laissez-faire view ultimately claims
that only one factor – labor –produces wealth
and creates economic value |
A labour-centric Marxist and Keynesian view claims
that only one factor – labour – produces
wealth and creates economic value |
Productiveness establishes that two interdependent
and distinct factors: –
• people/labour and
• "things"/capital
co-operate to produce wealth and create economic value
|
| Win-lose, zero-sum scarcity. Rich
win, poor lose. |
Lose-lose, zero-sum scarcity. All
lose. |
Win-win, synergistic bounty. New
systems and technology do more with less All win. |
| Wrongly believes that justice and efficiency are incompatible
and so sacrifices justice. Result is inefficiency and
injustice. |
Sacrifices efficiency for alleged "justice".
Inefficient in all respects and, in practice, unjust. |
True justice and efficiency go hand-in-hand.
Efficient, fair and just.
|
Wage system – jobs for the many, capital ownership
for the few.
No secure income
|
Wage system – jobs for all, capital ownership
for none.
Secure income at whim of state
|
Ownership and wage system –capital ownership
for all as well as jobs for all if wanted.
Secure incomes for all.
|
| Alleged equality of opportunity to work. Inequality
of opportunity to own productive capital |
Forced duty to work.
No opportunity to own productive capital.
|
True equality of opportunity to work, if wished.
True equality of opportunity to own productive capital
|
Protects private property rights of elite.
Monopolizes access to future ownership opportunities
|
Truncates or eliminates rights of private property.
Puts control of means of production in hands of political
elite |
Gives universal right to private property.
Protects rights of property (to the extent that others
are not harmed by those rights)
|
| “Hands-off" role of the state regarding
monopolization of ownership and control. State ends
up redistributing wealth and incomes |
Economic power is totally centralized in, or regulated
by, the state.
State redistributes incomes
|
Economic power of the state is limited (e.g., preventing
abuses and monopolies, and dismantling barriers to universal
participation in capital ownership) |
| Prices and wages protected from global competition;
promotes mercantilism |
Prices and wages controlled by government |
Prices, wages and profits set by free and open markets
with profits spread among many owners |
Capital credit available to few people.
Consumer credit available to most
|
All credit controlled by state |
Everybody has access to capital credit. Consumer
credit much less necessary. |
| Past savings used to finance future ownership by few. |
Past savings used to finance future ownership by state. |
Pure credit, future savings and capital credit insurance
used to finance growth-linked ownership opportunities
for all. |
| Technology controlled by a private sector elite, subject
to government oversight. |
Technology controlled by a non-accountable governing
elite. |
Technology owned and controlled by private sector
entities that are accountable to many shareholders and
stakeholders. |
Humiliating social safety net for poor. Trickle-down
incomes and social entitlements provided through government
transfers of income, institutional charity and personal
charity.
No secure income
|
Social safety net for poor. Trickle-down incomes and
social entitlements provided through state monopolies,
forced redistribution of wealth and income by government
|
Social safety net for poor generally not necessary
because:–
• Justice connects poor individuals and families
to growth dividends, and
• Secure incomes for all |
| Usually indifferent to environmental degradation.
The economically powerless become victims of developmental
and environmental hazards. The well-being of future
generations is sacrificed for short-term profits |
Generally indifferent to environmental degradation.
The economically powerless become victims of developmental
and environmental hazards. Economic inefficiencies lead
to inability to finance the most advanced and environmentally
sustainable technology |
Health of environment at centre of Justice.
Sustainable growth and development essential. Polluters
to pay. Interest-free money for advancing green technologies.
Plans for future generations |
| Purpose of education is to train people
for jobs |
Purpose of education is to train people for jobs |
Purposes of education include training for jobs but
main purpose is to teach people how to become life-long
learners and virtuous human beings, with the capacity
to adapt to change, to become masters of technology
and builders of civilization through their "leisure
work", and to pursue the highest spiritual values. |
