Mormon Studies Review
Keywords
capitalism, distributive justice, Latter-day Saint scripture
Abstract
In this forum essay, I discuss capitalism and distributive justice from the standpoint of a neoclassical economist. I am motivated by the conflict between the purported virtues of a free-market system (and the income inequality such a system is known to generate) and the egalitarian principles espoused by Latter-day Saint scripture. This is a complex subject upon which no easy closure can be expected. Part of the difficulty comes from the fact that capitalism itself is an ill-defined concept. I use capitalism and free-market system almost interchangeably, consistent with the way they are generally understood in everyday discourse. It bears emphasis, however, that capitalism is more than a sum of individual markets. It is a system that requires supportive institutions to function. Such institutions include, in addition to the legal enforcement of property rights and contracts, a work ethic, a materialistic and individualistic culture, what I call the market ideology, and a program of indoctrination in the rhetoric of capitalism.
BYU ScholarsArchive Citation
Takagi, Shinji
(2023)
"Capitalism and Distributive Justice: Musings of a Mormon Economist,"
Mormon Studies Review: Vol. 10:
No.
1, Article 3.
Available at:
https://scholarsarchive.byu.edu/msr2/vol10/iss1/3