Benjamin Cain
1 min readMay 21, 2023

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I said "amorality" because the moral status of capitalism is ambiguous. Immorality at the individual level (rank selfishness) is supposed to result in collective benefits (maximization of happiness). I think history shows the results aren't so rosy, but they're certainly mixed since capitalism clearly has some advantages over other economic systems.

The quotation of the UNCTAD article was just to illustrate the sort of points I'd be making here, if I were going into the matter in more depth. I wasn't pretending that that quotation proves anything scientifically. So that's an uncharitable strawman from you. Pretty soon, with all these strawmen you've provided me with, I'll be able to build one of those huge wicker men.

I agree that entrepreneurial work can be compared to gambling in that both have risks. But there's a big difference between taking responsible risks and being a no-good gambling addict. One problem with the shadow banking sector is that it's a haven for the sociopaths who climb the ranks on Wall Street and love to gamble with other people's money in unregulated ways, threatening to bring down the whole economy like the gambling addict who spends his life's savings betting on horse races.

https://www.europarl.europa.eu/news/en/press-room/20121116IPR55709/shadow-banking-balance-benefits-and-risks-say-meps

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Benjamin Cain
Benjamin Cain

Written by Benjamin Cain

Ph.D. in philosophy / Knowledge condemns. Art redeems. / https://benjamincain.substack.com / https://ko-fi.com/benjamincain / benjamincain8@gmailDOTcom

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