ABSTRACT
The morality of capitalism can be justified only by the nature of the object, that is, the function of the economy and the possibilities it offers for human self-realization. In general, theories of capitalism are economic and not philosophical. Within economic theory two approaches to the theory of capitalism can be distinguished: first the mechanistic model of general equilibrium in neo-classical economics, and secondly the model of interaction in the Austrian school of economics. T. W. Hutchinson distinguished between a “Smithian” and a “Ricardian” foundation of market economy. The problem of the ethics of capitalism arises within the economic theory in the openness of the system, in the possibility of a trade-off between efficiency and economic freedom. Capitalism as the system of contractual labor relations and free entrepreneurship excludes the finalization of the economic process according to centrally set goals, that is, the household model of the economy.
