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- Very Conservative
Capitalism only works when people are culturally conditioned to value decency, so that some sense of community moderates the pursuit of their material self-interest. Greed without any moral limits only leads to the injury and destruction of society, and by extension, to capitalism.
What role does competition play except in forcing this morality?
I mean yeah, if it was up to me then for my company's sake I would pay everyone $0.01 an hour. However, the other factory across the street is paying people $1 an hour and so I'm not getting any applicants for my job. No production = no profit. Competition forces me to offer wages that are near marginal productivity.