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Reflections on the Contemporary Capitalist Economy

In: The Economy of Goodness

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  • Rey-Sheng Her

    (Tzu Chi Charity Foundation)

Abstract

This chapter delves into the complexities of the capitalist system, emphasizing its role as a predominant force in shaping modern civilization while acknowledging its paradoxes, particularly in wealth distribution and environmental sustainability. The narrative begins with a historical exploration of individualism, tracing its roots from pre-capitalist trade practices through the rise of industrialization, highlighting how religious and cultural influences shaped economic behaviors. A critical evaluation of capitalism’s impact on individualism sets the stage for discussions on reforming capitalism to ensure it benefits humanity and the planet long-term. By integrating philosophical insights and historical contexts, the chapter argues for a nuanced understanding of capitalism, advocating for systemic adjustments to address its inherent challenges while preserving its innovations. This exploration is framed around the need to balance economic growth with ethical considerations and environmental stewardship, proposing a reflective approach to reforming capitalist dynamics.

Suggested Citation

  • Rey-Sheng Her, 2024. "Reflections on the Contemporary Capitalist Economy," Springer Books, in: The Economy of Goodness, chapter 0, pages 51-75, Springer.
    • Handle: RePEc:spr:sprchp:978-981-97-6363-4_3
    DOI: 10.1007/978-981-97-6363-4_3
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