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Ethics of economic systems - Coggle Diagram
Ethics of economic systems
Pure capitalism
Pure Socialism
Mixed Economies
Why is it the best?
Resource Allocation in Capitalist economy
Arguments for capitalism
Libertarian Argument
Counterarguments
Invisible Hand Argument
How does the invisible hand thought to create economic efficiency
Counterarguments
Based on exploitation
Based on inequality
Implication of inequality for the invisible hand argument
Based on market failure
Inductive counterargument to the invisible hand argument
Distributive Justice
Equal opportunities view
Difference principle view
Rawl's original position argument for the difference principle
Utilitarian view