Capitalism and Conservatism: A Reflection on Ethical Business Practices

As a conservative, I hold a deep respect for the individual and his choices, understanding that the fruits of one's labor and the economic system we have should be intertwined. Capitalism, with its foundation in accountability and personal responsibility, aligns well with this perspective. The question of opposing capitalism is as nonsensical as asking whether a Christian is opposed to God.

Pursuing a Balanced Approach to Capitalism

However, with any system, balance is key. Unregulated capitalism can lead to significant abuses. This is not to say that I am against capitalism, but rather that it must be complemented with ethical and moral guidelines. Recent trends in corporate America paint a picture that requires scrutiny and reform.

Consider the exponential increase in corporate profits over the past five decades, coupled with stagnant wage growth and mounting inequities. CEO-to-worker wage ratios have also grown from 35 to 1 to an average of 300 to 1. The justice of this stark divide cannot be overlooked. Moreover, the loss of benefits and the minimal increase in wage stagnation for the average American household since 1979 raise critical questions about the sustainability and ethical fabric of our economic system.

Externalities and Corporate Responsibility

The unchecked power of corporations can have severe negative externalities, from environmental harm to public health. The need to regulate these abuses is not a rejection of capitalism but a recognition of our responsibility to the collective good. The landmark efforts of progressive figures like Theodore Roosevelt in “trust-busting” have shown us the importance of preventing monopolistic practices.

Efforts to hold corporations accountable for their actions are also necessary. The spending of millions by corporations on lobbying to influence legislation can be seen as a form of legalized bribery, transforming public policy into corporate policy. The doctrine of “corporations are people” not only rings false but also undermines the principles of justice and fairness.

Finding Common Ground

These challenges do not negate the positive aspects of capitalism. We do not seek to dismantle the system but to augment it with ethical guidelines and a commitment to the values of ethics and morality. A revived corporate America, reminiscent of the era from the 1940s to the 1970s, can serve as a model for responsible capitalism.

For conservatives, who are often associated with traditional values, this approach reflects a genuine commitment to both individual freedom and collective responsibility. Ethical business practices are not a contradiction but an essential component for a sustainable and just capitalist system.

Conclusion

In conclusion, as a conservative, I am not opposed to capitalism. Instead, I advocate for a dynamic and responsible form of capitalism that aligns with ethical values and moral obligations. Let us strive for a balance where individual success and collective well-being go hand in hand.