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Lecture 37

PHIL 320A Lecture 37: PHIL-320A,University of Arizona,TextbookReadings(p37)

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- thousands of people cooperate to make pencil who don’t speak the same language,
completely different people
- magic of price system impersonal operation of pries that got them together and got them to
cooperate to make the pencil
- operation of the free market is essential not only to promote productive efficiency, but to
foster harmony and peace among the peoples of the world
Youtube: Against Capitalism Jerry Cohen
- argues capitalism deprives people of their rightful share in the worlds resources and that it
frustrates that satisfaction of fundamental human needs
- shmoo creature could be made into anything humans wanted, capitalists hated the smhoo
because no one had to make things anymore that capitalists sold
- lil åbner saved the shmoos, people wanted shmoos for independence and capitalists lost their
privileged place
- workers have to sell labor because they have no land
- advocates of pure capitalism claim it is a system when’re people freely exchange their private
- socialists say some can bring vast assets to markets, while others have nothing else to give but
their labor
- capitalists will respond they started with practically nothing and no unfair advantage
- reply capitalists rarely begin with brain and grit alone
- then asks: usually have resources that were once nobody’s private property, so how did it
come to be anybody provost property in the first place, what was the source of their right to it?
- justification that they got it form other owners cannot go on forever, there will be someone
who simply took nature resources so who gave them that right to establish private property
in it?
- cannot justify unowned things into private property in the first place, socialist thinks the
resources should be restored to the people as a whole
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