Why Capitalism?

Abstract

An endorsement of capitalism is often thought to be a concession to human selfishness. The thought often runs that while some other socioeconomic system – socialism, perhaps – would be morally preferable, we cannot live up to those high ideals. Jason Brennan has recently attempted to show that this widespread view is mistaken. Even in terms of ideal theory, Brennan argues, capitalism is morally superior to its rival. To make this case, Brennan critiques the work of the late socialist political philosopher, GA Cohen. Brennan argues that Cohen’s justification of socialism is ill-conceived, and in fact, Cohen’s failure helps to reveal that capitalism is morally superior to socialism. In this review article, I argue that Brennan’s critique and attempted counter-claim are unsuccessful. Among other failings, Brennan leaves us with no adequate answer to the question, why capitalism?

Cohen GA (2009) Why Not Socialism? Princeton, NJ: Princeton University Press.

Brennan J (2014) Why Not Capitalism? New York: Routledge.