| Why is it important to establish the moral | | | | that entrepreneurship is the ticket to a |
| status of entrepreneurship? Unless it can be | | | | decent chance for wealth. Certainly one can |
| shown that the entrepreneur does what is | | | | agree that between stealing and producing, |
| morally worthwhile as an entrepreneur, that | | | | the latter is more honorable. However what if |
| his role is ethically praiseworthy, not only | | | | quietism - the form of religious mysticism |
| his or her status in the market but the | | | | that involves complete extinction of the |
| market itself becomes vulnerable to serious | | | | human will, drawing away from worldly things |
| moral criticism. This is because it is well | | | | - is proposed as an alternative? |
| recognised that ethics are the free market's | | | | |
| life line. Many economists are beginning to | | | | How about asceticism - the religious ideal |
| realise this. Indeed, it is entrepreneurial | | | | that one can reach a higher spiritual state |
| activity that makes the best sense of profit | | | | by self-discipline and self-denial? How will |
| - another vital part of capitalism. | | | | the system that is hospitable to |
| | | | entrepreneurship be defended in the light of |
| However, without also demonstrating that | | | | such powerful challenges? |
| entrepreneurship is ethical, the market would | | | | |
| at most be hospitable to morally indifferent | | | | The most serious challenges to capitalism |
| kinds of behavior; at worst it would | | | | come from those who contend that by making |
| encourage moral callousness and discourage | | | | entrepreneurial effort possible - by |
| the pursuit of presumably morally more | | | | protecting the rights to private property and |
| significant objectives, such as order, | | | | the pursuit of happiness here on earth - this |
| self-restraint, artistic excellence, family | | | | system corrupts human life. It tends to |
| values. | | | | permit the commercialisation of human |
| | | | relationships, making us self-interested |
| When a system is vulnerable in one of its | | | | economic agents instead of what we really |
| essential ingredients, competing systems that | | | | ought be, altruistic members of our |
| lack this weakness become very powerful if | | | | community. |
| not immediately successful alternatives. | | | | |
| Their images improve, even if their actual | | | | It is insufficient to reply that the |
| performance leaves a lot to be desired. | | | | capitalist system makes it possible for |
| | | | people to attain a better life here on earth. |
| Some argue that all we need is the hospitable | | | | That is just what is in need of defense. Why |
| environment, but this is false. Even in the | | | | should we strive for such a life in the first |
| freest of societies many, many potential | | | | place? |
| market agents can be lazy. Not that laziness | | | | |
| is encouraged but that it is clearly not | | | | In a society of just human relationships, |
| foreclosed. That is partly what freedom | | | | there must be a consistent and constant |
| means. One has a genuine choice whether to be | | | | hospitality to entrepreneurship because |
| productive or not. It is not enough to show | | | | without this, an important moral dimension of |
| that under capitalism human beings are free, | | | | human life would be suppressed or at least |
| unless the kind of uses to which such a | | | | seriously distorted. Without such a welcome, |
| system puts human effort can themselves | | | | public policy and law would yield to more |
| bemorally worthwhile. So the question needs | | | | widely accepted but sadly misguided moral |
| to be addressed. Why should one be | | | | sentiments, for example, the call forgreater |
| productive? Why should entrepreneurship be | | | | and greater state power to regiment or |
| practiced? What is good about it? | | | | re-engineer society instead of making it safe |
| | | | for natural human initiative. |
| It is not enough by a long shot to answer | | | | |