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This 7 page paper reports and discusses philosophies regarding capitalism. The philosophers discussed are Locke, Smith, Aquinas, and Marx. Bibliography lists 4 sources.
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7 pages (~225 words per page)
File: MM12_PGcpxla.rtf
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are found on the market. The philosophy underlying the capitalist ideology is that private enterprise is the best and most effective and most efficient way to organize economic activities. Success
and failure is determined by market conditions, i.e., it is the market itself that will determine which goods sell and which do not sell. In turn, the market then also
determines which goods will be produced and which companies will produce those goods. It is also the market that will determine the price that can be charged for any specific
good or service. Philosophically, capitalism as a means of controlling the market has always existed. In early societies, for example, goods and services were usually exchanged, what we might call
a barter system. As the market became more complicated, money was created and eventually, money took over as the major exchange premium. Plato and Aristotle even wrote about market philosophies
in ancient times in their papers on economic issues and the state. In Medieval and Modern times, Thomas Aquinas and John Locke are two of the most-cited authors when the
topic is capitalism. Both were major political philosophers. Each wrote about civil society, among other things (Gasser, 2007). Each wrote about how they viewed the purpose of the state, private
property, and divine or eternal laws (Gasser, 2007). They did not necessarily agree but they both offered views on what we can refer to as capitalism. They did agree on
their views regarding the purpose of the state which they saw as protecting the common good (Gasser, 2007). To do so, states should be "keeping the peace, by organizing and
harmonizing the activities of citizens, by providing for the resources to sustain life" (Gasser, 2007). Of course, Aquinas focused a great deal on God and knowing God, i.e., divine
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