1. Critics of Wal-Mart -- the world’s largest retailer -- point to the exploitation of its workers. What those critics fail to appreciate is that those workers choose to work for Wal-Mart. Their choice represents a free exchange of their labor for the monetary and other rewards of employment. They are not coerced.  

*2. Competition, whether for greatest profit, best job, most money, nicest house or whatever, is good since it generally promotes efficiency, simulates people to work hard, take chances and innovate.

3. Given that the basis for the market system at the foundation of capitalist economics is the pursuit of individual self interest or selfishness, and that the phrase “the virtue of selfishness” is sometimes used by those promoting classical laissez faire economic orientation, I do not see “the virtue of selfishness” in capitalism.

*4. Consider two statements about freedom and equality. 1) Freedom and equality are both important. If I had to choose, I’d consider personal freedom more important, that is, everyone can live in freedom and develop without hindrance. 2) Certainly both freedom and equality are important. If I had to choose, I’d consider equality more important, that is, nobody is underprivileged and social class differences are not so strong. The first statement comes closer to what I believe.

*5. The economy can run only if businessmen make good profits. That benefits everyone in the end.

6. The right to pursue one's economic self interest is morally defensible and the right to own private property should be protected by law.

7. I have a great deal of faith in the market system with respect to setting good prices.

*8. I have confidence in our economy’s major companies.

*9. We need large income differences as incentives for individual effort.

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For Worldview Theme #19, Economic Individualism
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