October 2, 2010
I believe that Capitalism can be ethical. Let's have an analogy. In sports like Tennis, Badminton, Bowling, Basketball, Boxing, etc spectators will be fully satisfied only if the players are well prepared both mentally and physically and created so much excitement during the process of competition.
However, if the rules of the game are inadequate or not fully defined or not fully implemented, there are chances that results are not coherent with the spectators' expectations resulting to dissatisfaction and later non- patronage to the sport.
For sure there will be loser and winner, but it is the competitive process usually the one that will remain in the hearts and minds of the spectators. To quote " It is not winning or losing the game ,it is how did you play the game" In this light they will be willing to go back again and again to patronize the sport because they were fully satisfied especially for those players which will always display their never- say- die efforts in the game.
If the players will continue their best efforts to become world-class, more and more fans will be encouraged to watch the sport. This definitely will be a high gain to players, spectators, producers and the economy in general.
Ethical capitalism focuses more on quality service for total consumer/customer/client satisfaction. Business players will prepare themselves by reducing their production cost and eliminate all wastes and inefficiencies in their operations. The efforts are geared towards lowering the price after the elimination of the wastes. Profit is not compromised and low -priced high quality products and services will be patronized thus increasing and maximizing market share.
If the Business players are ethical and continue to display this concept, more and more high quality products and services will be available in the marketplace for customers to enjoy and mass consumers will thus be more satisfied...