Morality and Character Development: The Roles of Capitalism, Commerce, and the Corporation

Abstract

Capitalism is a system of voluntary relationships within a legal framework that protects individual rights against force, fraud, theft, and contract violations. Morality is impossible unless one has the freedom to choose between alternative actions without outside coercion. Since capitalism is based on freedom of choice, it can promote morality and character development—a key aspect of human flourishing. Commerce in a free economy not only requires but rewards virtuous behavior.