ABSTRACT
Capitalism is outrageously unjust: it requires a continuing mal-distribution of wealth in order to exist. But more than that, it is also self-destructive. Property is a term that refers to rights of ownership granted by society with respect to both production and consumption goods. The meaning of the term varies across societies because different societies assign different bundles of proprietary rights. Justice also requires clarification. Unfortunately, justice involves potentially contradictory ideas whatever theory is adopted of its ultimate foundations or first principles. Justice under capitalism properly does not involve individual rights to liberty with respect to the allocation of scarce resources. What is uniquely characteristic of justice under capitalism is the assignment of individual property rights in production goods. Capitalist justice grounded on desert can be supplemented by a principle of need that prescribes welfare rights to any indigent person. Capitalism in its best form involves property rights grounded on the principle that producers deserve the fruits of their labor.
