There is no moral basis for capitalism. Its just based on human selfishness isn it?
There is a moral basis for capitalism – individual liberty. A basic moral principle for Libertarian capitalism is that every individual is entitled to utilize the resources he owns as he sees fit – including his own mind and body. This is defined as his ‘property right’. Another common Libertarian term is ‘self ownership’, meaning that every individual owns his own mind and body and no one else can dictate to him how he should use them. These principles enable a definition of Libertarianism as a political system not just an economic system. The key legal limitation on behaviour is the notion of ‘non-initiation of force’ – one person may not initiate force against another except in self defence (initiation of force can include things like fraud). The legal basis for interaction between parties is the ‘contract’ – an implicit or explicit mutual agreement as to what obligations each party has towards the other. The aim is to attempt to define exactly what each party really wants from the
