"Capitalism" as meant by its proponents is simply a market economy in which people are free to trade. However, as meant by its opponents it is a system set up to profit those already rich and powerful. These, being obviously opposed to one another, one system that is free and the other rigged, ought not be called by the same name.
The system that may be endorsed by the Faith is one of virtue. As most virtues, the bracketing vices are slightly skewed closer to one than the other. For courage looks more like recklessness than cowardice, so too does the virtuous system of business and commerce look more like "croney capitalism" than communism and socialism.
Where cowardice shrinks in face of danger and recklessness is heedless of it, courage takes danger into account and proceeds with right action regardless of potential or sure personal loss, injury, and death. Likewise, where socialism/communism shrinks from unequal outcomes for unequal economic participants, and corporatist/croney/anarcho- capitalism heeds not the hungry, the virtuous economic system will suffer the the poor to need the wealthy and respect the freedom of all. The virtuous system rewards the generosity of the wealthy, not punishing the wealthy for being greater contributors than the poor, nor punishing the poor for their need.
James A Lewis
@theologyofcommerce.com
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Husband, father, #Catholic #Christian, Amateur Philosopher, Bitcoiner, freedom lover, word nerd
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This place is pretty quiet.
I like rediscovering artists to find they didn't stop making music.
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Inflation has been roughly +11.5% per year since 2017 according to ChapwoodIndex.com, which reports the unadjusted actual cost and price fluctuation of the top 150 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation.
I don't think we noticed it until wages stagnated in 2020, but prices have literally doubled since 2017.
Some maths will reveal +92% average total inflation from 2017-2023 and a projected +122% to now, meaning a $1.00 item from Jan 2017 will cost on average $2.22 now in Apr/May 2024.