"Capitalism is the enemy of democracy." - Michael Moore
This is where Mr. Moore and I part ways. No economic system is equitable but non-capitalist economic theories have wrought worldwide bloody havoc. Certainly unbridled Capitalism is rapacious. Imperialistic. Exploitative. Enslaving. Just like the rest. But that's just an argument for a bridle given Capitalism’s virtues versus the empirical disasters that non-capitalist systems have proven.
Capitalism is unique because it can order individual self-interest in a way that failed systems like communism can't. Capitalism admits the overwhelming influence of two fundamental principles of human psychology that the other theories ignore or misconstrue at their peril: self-interest and the desire for freedom. Admitting and accepting that all humans primarily act in their own self interest frees Capitalism from utopian social engineering that in seeking to mitigate self interest in the name of equity only exacerbates inequity by providing the powerful with the means for suppression. Capitalism instead allows self-interest free reign within the boundaries of the rule of law thereby maximizing freedom.
The desire for freedom from hunger, want, disease, the elements, and the freedom to chose the life one wants to live is something that all economic theories strive for but Capitalism has proven more successful at than any other. Capitalism, unlike most of its competitors, was not theorized and then implemented; it was implemented and then theorized. This explains its empirical success. It evolved in the real world, and not at the desk of an academic. It successfully feeds billions of people daily. More people were lifted out of poverty by China’s turn towards Capitalism than at any other time in the history of the world.
The butcher does not sell you his meat out of benevolence as Adam Smith memorably said. We work for money to survive and to be free. Money frees us from agrarian barter and allows us to pursue our life unshackled from having to produce our subsistence. And attempts to do away with sale transactions, money, and the like by eliminating private property miserably fail because they prevent the individual from controlling the objects in the material world necessary to her survival and satisfaction. If anyone can take without consequence the tools you work with or the food produced by your labor your freedom to control your world has been diminished and you are subject to the often-wicked caprice of others who invariably act in their own self-interest despite the utopian fantasies of wistful theorists.
Private property creates freedom precisely because it protects self-interest and the freedom of the individual to chose what to do with their property, including the freedom to exchange it for value in mutually beneficial exchanges between contracting private parties with a minimum of governmental interference. Like the butcher does when he sells you his meat. This benefits society as a whole, as any empirical comparison between the world’s capitalist and non-capitalist societies demonstrates.
Finally, it is simplistic to say Capitalism is brutal and amoral. Capitalism as an empirical phenomena is constantly evolving: slavery is now illegal; the labor movement tempered Capitalism’s exploitation, and a body of law emerged recognizing equality and freedom of choice in a world awash in castes and inequality. Of course there is much work to be done (and I suspect this is what Moore’s movie is really about), but I’d much rather stick with a system that actually feeds people than ones that have only produced despotism and scarcity.
