Is capitalism killing morality in the name of the law? - page 5.

ancafe

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Quote from: Dzigie on March 25, 2023, 08:15:52 AM

Usury is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is banking. And banking is regulated by law.

The practice of usury is indeed very troubling for some people and in some religions it is highly recommended to avoid it, but this problem cannot be seen as a profession because you can choose not to take usury.

Quote from: Dzigie on March 25, 2023, 08:15:52 AM

Making money by prostitution is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is porn industry. And the porn industry is regulated by law.

You can avoid this kind of premium, if the lender expects interest, then you don't have to bother taking it and the porn industry is immoral, as well as industrial connoisseurs must limit not enjoying it.

The location of each problem is in each individual, if you refuse to accept then you will be spared, the concept of simple life is never to get involved in loans and not to be involved in anything that is believed to be damaging.

dothebeats

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It's allowed to operate because the government benefits. If it doesn't, it most probably wouldn't be legal at all. These industries serve people, albeit somewhat challenging morality of a lot of people too. Whatever the cases is, so long as a large portion benefits, it will be approved or legalized no matter what. I don't know about porn though, because it is illegal here. But banking, IMO, does more good than harm if done correctly. Not a fan of capitalism, but it has its merits.

bittraffic

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Quote from: Dzigie on March 25, 2023, 08:15:52 AM

Usury is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is banking. And banking is regulated by law.

Making money by prostitution is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is porn industry. And the porn industry is regulated by law.

Do you think moral concepts are being killed by capitalist imposing laws who want to make more money?

If the interest becomes unbearable for the debtor to pay, it becomes unacceptable anymore thus capitalism is just not the right term for it anymore.
We know it's not morally good to see a person toil their way to make money but only to give it to thier lenders.

The moral concept is to be balanced by the government. Prostitution is still taboo but is pretty much spread as well. This is as much as Bitcoin, they couldn't stop it and it evolves online.

odolvlobo

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Quote from: Dzigie on March 25, 2023, 08:15:52 AM

Usury is an immoral profession in almost every society.

I don't agree with that premise. Interest-free lending is charity because the lender is giving away the benefits of what they are lending. So, a lender is immoral if they are not charitable, and charity is therefore not a virtue because it is simply the selfish avoidance of immorality.

In my own case, I loan money to people who are drowning in debt. I give them a chance to get their finances back in order and pay off their debt. I do this primarily because I think it is a benefit to society, but I also charge interest on the loans. Charging interest is necessary because many of the people I help do not pay me back. Without interest, the lending could not be sustainable. Also, I could instead charge a fee for my help based on the size of the loan, but isn't that really what interest is?

Quote from: Dzigie on March 25, 2023, 08:15:52 AM

Do you think moral concepts are being killed by capitalist imposing laws who want to make more money?

A transaction involves two people. Why is only one of them being immoral when both are making the transaction? If charging interest is immoral then being willing to pay interest is immoral. If charging for sex is immoral, then being willing to pay for sex is immoral. You say that the people making money are immoral, but the people wanting services must also be immoral.

disconnectme

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Capitalism by design is still the best form of economy but by nature, human greed is what is destroying capitalism, the love of money has corrupted every aspect of our lives, and the lawmakers that are supposed to be the ones making laws to guide and prevent greed are the ones using the loopholes in the law they make and the inside information they have access to, to their own benefits, the Judicial system that is supposed to protect the common man has also been corrupted and justice goes to the highest bidders. I don't think anything is wrong with capitalism, we humans if it is wrong properly

Zilon

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Capitalism invariably has contributed to the creation of jobs and wealth, introduced new innovations, development and has brought prosperity in our today society. The height of competitiveness and capital accumulation it brings has incentivised business efficiency and growth. It might have tampered with the morals of todays society but to a larger extent it has improved the standard of living in the modern era.

Usury is part of capitalist society, its moral justification might be worthless but the honest truth is that to fit into the society without engaging in criminal act or money laundry Usury might just be one of the options. But come to think of it even the borrower no one know their intent when taking the loan. They too can ignite inflation in their own business. Majority of people in the capitalist society are guilty of the same act. The immoral living is not in Usurers alone even the local business vendors are guilty of the same act just that each does their differently.

Gyfts

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If it's truly a capitalistic economy, then usually usury would be stomped out by the competition undercutting the high rates of which ever lender. If the market is free, competitive, and fair, then it shouldn't be a problem. Greed isn't a capitalism problem, it's a human morality problem. I wouldn't expect capitalism to be perfect, because predatory lending agencies exist -- though capitalism can make things more fair for the consumer because there's alternatives.

Cryptomiles1

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Usually money lending has been existing for as long as human was created both prostitution but what matters most is creating a means of channelling their regulations. Which is why they have a porn industry where it will be properly controlled and practice maybe most of them are being license which they have some percentage to remits to the government such is also applicable to money lenders.

Dzigie

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Usury is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is banking. And banking is regulated by law.

Making money by prostitution is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is porn industry. And the porn industry is regulated by law.

Do you think moral concepts are being killed by capitalist imposing laws who want to make more money?

Topic: Is capitalism killing morality in the name of the law? - page 5. (Read 674 times)