Capitalism After Covid: How the pandemic might inspire a more virtuous economy

The Philosophers' Magazine 2 (89):12-15 (2020)
  Copy   BIBTEX

Abstract

Today, dramatically increasing economic inequality, imminent climatological calamity, and a global pandemic now place the timeless debate over capitalism into stark relief. Though many seek to pin the blame on capitalism’s excesses, they would do well to recall the historical record of socialism’s deficiencies, namely, stifling innovation, lumbering inefficiency, and stagnation. Fortunately, our moral psychology affords a middle way between these two extremes. For while economic incentives have a tendency to let our civic and prosocial impulses atrophy from disuse, these can also be rekindled when we are faced with highly compelling reasons to think and act for the greater good of all concerned. The coronavirus pandemic now unfolding might well offer us an opportunity to instill a culture of heightened moral self-awareness spurring a more virtuous form of capitalism.

Similar books and articles

Ethics of care and Philippine politics during the COVID-19 outbreak.Rogelio P. Bayod - 2020 - Eubios Journal of Asian and International Bioethics 30 (3):69-75.
Impacts of COVID19 Pandemic on Care of the Patients with Cancer.Esra Bilir - 2020 - Eubios Journal of Asian and International Bioethics 30 (3):111-113.
Women Proficiency in Global Crises Management: The case of Ethiopia.Debela Bedada - 2020 - International Journal of Scientific Research and Management (IJSRM) 8 (4).
Is capitalism eternal?Dennis H. Wrong - 2004 - Critical Review: A Journal of Politics and Society 16 (1):23-32.
The Economics of COVID-19 in the Philippines.Leandro S. Estadilla - 2020 - Eubios Journal of Asian and International Bioethics 30 (4):178-181.
The COVID-19 containment in Vietnam: What are we doing?Toan Luu Duc Huynh - 2020 - Journal of Global Health 10 (1):010338.
Relationships between Sri Lankan culture, diets and COVID-19 disease control.Omalpe Somanada - 2020 - Eubios Journal of Asian and International Bioethics 30 (4):143-147.
Social Cohesion, Trust, and Government Action Against Pandemics.Marlon Patrick P. Lofredo - 2020 - Eubios Journal of Asian and International Bioethics 30 (4):182-188.

Analytics

Added to PP
2020-05-15

Downloads
548 (#18,121)

6 months
26 (#46,204)

Historical graph of downloads
How can I increase my downloads?

Author's Profile

Julian Friedland
Metropolitan State University of Denver

Citations of this work

No citations found.

Add more citations

References found in this work

No references found.

Add more references