Is capitalism good?

This is a report of my philosophy cafe session on 17 June 2009. A popular vote decides the Question of the Evening: Is capitalism good?

We define "good" as "that which promotes the general advancement of mankind".

Capitalism is good because it allows the best to prevail, and having the best prevail advances mankind. Capitalism is good also because it enables a country to work (that is, to not fail). Examples are China and Vietnam. This too advances mankind.

Capitalism is not good, because it promotes elitism and segregation, which do not advance mankind. This is just the flip side of allowing the best to prevail -- some must die out. It is not in the interest of capitalism to kill off the common man -- who are needed as the customers of capitalism. However, the worst will be driven out. This is the price of advancement; it does not mean there is a lack of compassion. To cultivate a garden of roses, it is necessary to remove the weeds. We do not lament: "poor weeds".

But what about the example of the US? It is the foremost capitalist country in the world, and it is also the origin of the current global economic trouble. How is that good? Well, this is a small step in the evolution of mankind. Capitalism does not allow stagnation. The capitalist world will move on, and it will advance. It is good.

We still have time. We take on a second question: What is marriage?

[Please see other post.]