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<aside> 📌 THE IDEA THAT CAPITALISM IS GOOD
The idea that money-making enterprise is virtuous - or at least compatible with virtue - seems to be unshakable in the minds of the rich, for whom it is a self-justifying doctrine, and the poor, for whom it is a focus of inspiration. It is well documented in biblical Judaism, which represented worldly success as a sign of divine favor. It is the theme of many early Buddhist stories about the sanctity and nobility of merchants; for example, Jatakas, which, perhaps dates from as early as the 3rd century B.C.
Yet the idea was challenged by moralists, and many ancient societies evinced hostility toward capitalism by practicing state-controlled trade or representing trade as “tribute.” The earliest systematic defense of a capitalist way of life was probably drawn up in the 6th century BC by Mahavira, the founding sage of Jainism. Only monastic self-abegnation, in his view, was fully meritorious, but at least he regarded wealth-creation as morally neutral, as long as the rich man relieved the needs of his neighbors and labored “that many may enjoy what he earns.” This anticipates modern capitalist theorists’ main moral justification: the wealthy “give employment to the artisan.” Their prosperity “trickles down” to enrich the whole of society.
The doctrine has remained contentious. Hindus, for instance, often represent trade as incompatible with high caste.
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