Economic Systems

Although they can sometimes be abstract and complex, a society's economic system has a real and significant impact on the well-being of its members. Economic systems organize how resources get allocated: who will be wealthy, who will be poor, and who gets to make important decisions about wealth distribution. They also indirectly influence our moral perception of wealth. do we admire the wealthy for their achievements or disdain them for their greed? Do we respect the dignity of the poor or admonish them for their situation?

Capitalism, socialism, communism, another? Which economic system is most conducive to producing the kind of society that we want to live in? What are the moral values or ethical principles that underlie our beliefs about economics?

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Economic systems organize how resources get allocated: who will be wealthy, who will be poor, and who gets to make important decisions about wealth distribution. They also indirectly influence our moral perception of wealth. Capitalism, socialism, communism, another? Which economic system is most conducive to producing the kind of society that we want to live in?

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