MORAL IMPLICATIONS OF THE BRUTALITIES OF CAPITALISM ON THIRD WORLD COUNTRIES: A PHILOSOPHICAL DISCOURSE

Abstract

In this paper, "Moral Implications of the Brutalities of Capitalism on Third World Countries: A Philosophical Discourse", a re-examination of capitalism is conducted to highlight the moral implications of its brutalities, especially to the Third World countries, and to chart a course for making it serve humanity better. Being perceived as enhancing individual freedom to choose, democracy, free enterprise, wealth creation, competition and limited government interference, capitalism is adjudged messianic; hence, it is recommended for and embraced by most nations for their political and economic management. Despite the allurements and preponderance, capitalism embodies some brutalities which make it dreadful. How can the accompanying dire conditions of the Third World countries be ameliorated? How can capitalism be transformed into a humane rather than dreadful system that it is especially to poor counties? The research, being expository, analytic, and evaluative, identified the moral implications of the brutalities and recommends compassionate capitalism, integration of humanism into capitalism,
prioritization of human dignity and social responsibility. These will rectify the injustices of capitalism and restore human dignity.