| Presentation |
Matthew Cavin
Valparaiso University
Subject Listing - Economics
Advisor: Dr. Andrew Murphy
Thursday, Oral Session 3, Presentation 1, New Hall 014
EGALITARIAN ECONOMICS: THE GLOBAL INTEGRATION OF MORALITY AND CAPITALISM
The field of economics has long been oriented towards growth, as highlighted by economic policies of fiscal expansion and output augmentation. Unfortunately, economic policies rarely come without social implications, and ethical considerations often give way to fiscal realities. In an era of emergent globalization, systems of moral economics should be considered which address issues of equitable development and sustainability. Specific policy issues, such as poverty alleviation and educational parity, often directly conflict with wealth creation methods, thereby illuminating the moral complexities associated with the strict pursuance of economic growth. Without ethical guideposts for decision-making, the propagation of global business and policy tends to promulgate social stratification and effect inequitable economic development.
This paper presents a moral economic model of global social capitalism as an appropriate response to social and economic disparity. Global social capitalism is an egalitarian economic framework whereby ethical standards are integrated into capitalism as externalities - the preferences of the consumer population. The paper examines China as a case study, giving particular emphasis to its complex and traditionally egalitarian values system as it challenges emergent capitalism. In a macro context, egalitarian externalities stem from a global values system, which exists as the integration of localized notions of cultural identity, political ideology, and moral principle. The global values system then impacts the international economic sphere via consumer externalities. Global social capitalism, as an economic model, allows for the moral undertaking of specific policy issues, including poverty, healthcare, and education, stressing a methodology of sustainable development and holistic growth. Furthermore, a moral economy provides an ethical foundation for policy determination around international trade and finance. Lastly, global social capitalism provides the context for the public assessment of output growth against wealth disparity. Modern China represents a clear illustration of the nuanced public conversation that is distinctive of global social capitalism, and the Chinese experience of coincident socialism and capitalism serve as a primary case study in this paper. Conclusions are identified in the general effects of egalitarian externalities on global capitalism in terms of sustainable development and depth of economic growth.
Valparaiso University
Christ College (The Honors College of Valparaiso University)
Advisor: Dr. Andrew Murphy, Assistant Professor of Humanities & Political Philosophy, Christ College, Valparaiso University, Valparaiso, IN