Free market and Relative grading
Now I accept that I am not the brightest kid on the campus when it comes to acads, does that mean I don’t believe in Relative grading! Well never thought about it! But then no matter what, I have to believe in Relative grading as I am a self professed Capitalist. Right? This article was written after one of those ‘test the consistency of the Capitalist’ discussions.
Is relative grading a form of free market, ‘because the essence of a free market is competition’?
The most common way of perverting and vilifying capitalism historically has been distorting its definition. This is done by switching the ‘essence’ of capitalism. Some common examples are:
1. ‘A capitalist society is any society that relies heavily on businesses to produce and distribute goods and services’ (A typical definition by a student of political economy…the thing taught to us in microeconomics.)
2. ‘Capitalism is the most efficient economic system’ (A typical misguided apologist for free market economy….incidentally its worst enemy)
3.‘It’s a society in which the bourgeois class runs the government to serve its own interests.’(A Marxist)
Before analyzing whether the essence of free market is competition lets discuss the importance of ‘essentials’ in defining a concept. What is a definition? Is it the most apparent characteristics of a thing, is it a description of the collection of all the attributes of that thing or is it the thing itself. None of them. A definition is a description of the ‘thing’ in terms of the essential attribute which sets it apart from all the things which are alike it and the essential attribute which makes a particular object grouped under the umbrella of the ‘thing’ similar to the others in that group. A definition is a description of a thing by essentials.
To put things straight, the essence of capitalism is absence of force in the transactions between individuals. The definition of capitalism is: it is a social system based on the recognition of individual rights. The essential attribute which sets it apart from all other social systems is the recognition of individual rights. This implies that no man or group of men may initiate force against others. In simpler words in a capitalist society all transactions between men are voluntary.
The statement that ‘competition is the essence of capitalism’ wrongly identifies a more visible attribute of free market economy as its essential attribute. The very presence of free market does not necessarily imply competition; it depends on the way the citizens of the society decide to trade with each other.
Relative grading is not a form of free market economy but for a more mundane reason. It is not a social system; it is just a method of performance evaluation.
Is relative grading a form of free market, ‘because the essence of a free market is competition’?
The most common way of perverting and vilifying capitalism historically has been distorting its definition. This is done by switching the ‘essence’ of capitalism. Some common examples are:
1. ‘A capitalist society is any society that relies heavily on businesses to produce and distribute goods and services’ (A typical definition by a student of political economy…the thing taught to us in microeconomics.)
2. ‘Capitalism is the most efficient economic system’ (A typical misguided apologist for free market economy….incidentally its worst enemy)
3.‘It’s a society in which the bourgeois class runs the government to serve its own interests.’(A Marxist)
Before analyzing whether the essence of free market is competition lets discuss the importance of ‘essentials’ in defining a concept. What is a definition? Is it the most apparent characteristics of a thing, is it a description of the collection of all the attributes of that thing or is it the thing itself. None of them. A definition is a description of the ‘thing’ in terms of the essential attribute which sets it apart from all the things which are alike it and the essential attribute which makes a particular object grouped under the umbrella of the ‘thing’ similar to the others in that group. A definition is a description of a thing by essentials.
To put things straight, the essence of capitalism is absence of force in the transactions between individuals. The definition of capitalism is: it is a social system based on the recognition of individual rights. The essential attribute which sets it apart from all other social systems is the recognition of individual rights. This implies that no man or group of men may initiate force against others. In simpler words in a capitalist society all transactions between men are voluntary.
The statement that ‘competition is the essence of capitalism’ wrongly identifies a more visible attribute of free market economy as its essential attribute. The very presence of free market does not necessarily imply competition; it depends on the way the citizens of the society decide to trade with each other.
Relative grading is not a form of free market economy but for a more mundane reason. It is not a social system; it is just a method of performance evaluation.
posted by The Lone Footballer @ 2:16 pm
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