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The Forum > General Discussion > The New Age of Moral Capitalism

The New Age of Moral Capitalism

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Conservative British PM David Cameron claims to have a vision for “moral capitalism”. This new age of "responsible capitalism" would see corporate greed replaced with a more enjoyable form of popular capitalism. Under this new regime the excesses of the old ‘system’ would be replaced by a more equitable and fairer form of capitalism.
Cameron said “more people should have a stake in capitalism. I want these difficult economic times to achieve more than just paying down the deficit and encouraging growth. I want them to lead to a socially responsible and genuinely popular capitalism. One in which the power of the market and the obligations of responsibility come together. One in which we improve the market by making it fair as well as free, and in which many more people get a stake in the economy and share in the rewards of success."
The Labour Party leader Ed Millband said “There are companies that are too powerful and can take advantage… And government hasn't done enough to blunt their power, to say 'Enough is enough'.
As the conservatives rely the failures of unfettered capitalism they rush forward with calls of forgive us for our excesses and greed which has led to the economic suffering of innocent people. Behold, we have a new miracle cure for the ills that beset us, we call it “moral capitalism”. It’s the same old capitalist rubbished dressed up to fool the people once more. The cynic in me says the capitalists are trying to wriggle out of their obligations for the economic mess that they have created, while shifting the reasonability for the clean up onto the ordinary people in society.
Will Tony Abbott be able to bring Australia the benefits of this wonderful new moral capitalism when he wins the next election or will he preach the same old corporate line of the “ economic rationalist” he is. Will Julia Gillard hitch Labors buggy to the back of the capitalist wagon as labor loves to do.
Posted by Paul1405, Saturday, 21 January 2012 12:33:41 PM
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Not much hope of the conservatives going that path, even less with abbott in front. You have far more chance for that from ALP than any of the others.
Posted by 579, Saturday, 21 January 2012 2:12:00 PM
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It makes me laugh when the today's leaders somehow think their hearts are more noble minded than the last couple of generations. Most today can't parent their children, keep a marriage vow or show any love to their kids by disciplining them. To think they want to lecture about morality is an absolute joke. Look at the lives of the current crop in Government and only the blind would deny how morally bereft today's generation is. State and Federal Labour have enough trouble keeping their representatives out of gaol.
Posted by runner, Saturday, 21 January 2012 2:48:02 PM
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Capitalism is the only workable system.
It rewards effort and effort comes from self interest, that is why it works.
Politicians words about MORAL CAPITALISM are not believable, yet.
After a global crash? maybe.
Posted by Belly, Saturday, 21 January 2012 4:34:47 PM
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It rewards effort and effort comes from self interest, that is why it works.
Belly,
you're starting to regain the right track. All you got to do now is to tell the public service union to tell its members to start earning their money & conditions. Reduce their unfair share to give us our fair one.
Posted by individual, Saturday, 21 January 2012 11:41:45 PM
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Capitalism is a system that in terms of resources, destroys what makes it possible to exist in order to feed itself and must inevitably fail.
When there are no resources or no markets left to exploit, it's finished.

In a free market capitalist system you simply can't have a level playing field where everyone wins. To win, somebody must lose.

Self interest certainly works but at a significant cost and only for a short while.

While the USA for example with only 6% of the global population uses 36% of the planets resources yet still has significant poverty and social problems, I wonder how much longer it can continue in its present form.

Unfortunately any attempt to regulate that system is met with extreme resistance by very powerful self-interest groups, as can be seen by the anti-AGW campaign and all its similar predecessors.
Posted by rache, Saturday, 21 January 2012 11:59:06 PM
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