Ethical Capitalism: Is It Possible?

Can Capitalism Save the World?

We live in an era of increased skepticism towards capitalism. But is participating in capitalism inherently antithetical to living an ethical life? Or is it possible to act ethically within a capitalist system? Let’s find out in this Wisecrack Edition: Can We Be Ethical Under Capitalism?

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Written and Hosted by Michael Burns
Directed by Michael Luxemburg
Edited by William Schwartz
Produced by Olivia Redden

Music courtesy of Epidemic Sound

#Capitalism #Ethics #Wisecrack

© 2022 Wisecrack / Omnia Media, Inc. / Enthusiast Gaming

[MetaNiteFM]

My history teacher had a saying: “America would love a revolution, but its show is starting and its pizza is getting cold.” He meant that the minor conveniences and temporary pleasures afforded by our society allow us to overlook our outrage and desire for change until tomorrow, and tomorrow there’s always more pizza and tv. It takes people who are willing to ignore those distractions and look at the real issues in order for anything to get done.

[winkletter]

The best argument I heard against "ethical capitalism" came from vlogbrothers during a video about their Partners In Health project. I think it was John Green who had been advised by his financial advisors to NOT give away his wealth but to reinvest his donation. It would be worth much, much more in a decade or two. Think of the good you could do with that!

He rejected this idea. The idea of investment also applied to the people of Sierra Leone that their project was attempting to help. He could invest his money back into capitalism or he could invest it in this project to build a better healthcare system in Sierra Leone. By strengthening Sierra Leone's healthcare system, lives would be saved, and they could improve the basic living standards of people in Sierra Leone. Those people in Sierra Leone would then have more resources that could be reinvested in their community.

His financial advisors had been trying to trap him in the same logic that has turned Harvard into a hedge fund.

[TheMan-txqz]

“There is no ethical consumption in capitalism” places the blame on the consumer who largely have no influence over the market. A more accurate phrase is “there is no ethical production in capitalism” this places the central issue on the producer / owner of the company who actually have the power to make changes in production.

[ajiththomas]

Adam Conover also has a great video "Why there is no such thing as a good billionaire" which deconstructed the so-called benevolent reputation of the CEO of Patagonia. It does a pretty good job of deconstructing the idea of "Ethical capitalism".

[createtoserve]

This is similar to my quandary over my years of teaching. I see the problems with the education system, but is it better for me to be in the system and try to improve the experiences of as many kids as possible, or should I leave public education and try to do something better outside of it? On the one hand, I'm perpetuating something fundamentally corrupt even as I work to subvert and reform it. On the other, I'm abandoning the majority of students, who will inevitably be stuck with the existing system until it somehow changes. I see both as necessary. After a decade of this, however, I still don't know which is the better choice for me.

[Shawnsrumi]

When your fundamental principle is profit and not life and humanity, then capitalism can never be ethical

[WhalesArePeopleToo]

Those billionaires actually saved money by donating to charity.

[erickechegar]

Keep talking about capitalism ! We need discourse about it.

[FurTheWorkers]

Every time I see a new Wisecrack video, I'm always surprised by the change from "Is this terrible movie actually pretty good?" to the new format of "Why is society dying?"

[bryantbrown]

The relationship between Wakanda Forever and the Hatian revolution lies in the name of the child at the end of the movie. His hatian name is Toussaint, which is a reference to Toussaint Louveture. He led the fight for Hatian freedom from slavery and won.

[loreleimonn]

I think Rosa Luxembourg’s “Reform or Revolution” is rlly relevant to what you talked abt in this video. Her analysis of the most basic inseparable flaw of capitalism and reform’s inability to ever overcome that flaw is incredible, and it shows how an ethical society can only be achieved post-capitalism

[chucklieus]

If billionaires wanted to save the world they would've done it by now.

[ksefchik]

People not wanting you to talk about capitalism have an agenda. Keep doing it.

[songerie]

I appreciate how often you talk about capitalism. Your videos are very educational. Thank you, Wisecrack team, for prompting critical thinking in your audience. You are teaching people how to think(or continue to think - in their adult lives) about important topics from multiple angles, how to analyze and synthesize information, while being entertaining. Its like the best college classes, but without the homework

[burgermind]

If capital can have a political effect, then the negative political effect will always overwhelm the positive political effect.

[Guercinator]

Hearing the George Washington rap randomly in the middle of the video unlocked a memory door that was welded shut for a very VERY long time. Wow that was quite something

[dogwithsunglasses]

The Problem i see is that Employees as a whole are always treated like a cost and not a capital. As long as the famous Bottom line is against Employees, they will be exploited and mistreated.

[Bounsingonbongos]

"Any attempt to 'soften' the power of the oppressor [...] almost always manifests itself in the form of false generosity. In order to continue to have the opportunity to express their 'generosity, ' the oppressors must perpetuate injustice. [...] That is why the dispensers of false generosity become desperate at the slightest threat to its source."
- Paulo Freire, Pedagogy of the Opressed

[JaimeAGB-ptxl]

Ask any of those companies employees about the working conditions and how the companies "share" with their employees ... and that should tell you how altruistic those CEOs think of themselves vrs how they really are

[devilofether]

in terms of consequential-ism, rich billionaires do donate to support genuinely good causes (sometimes), but that doesn't in the least compensate for the amount of cruelty generated in creating that capital in the first place