Sam Biddle of Gizmodo poses a question: Is it immoral to own an iPhone five?
However, in his attempt to answer that question, he arrives at an incorrect conclusion.
The implication of the article is that anybody who purchases and owns Apple products and to an extent, any other product that is produced under harsh labor conditions, is at fault for propagating those conditions.
I have a feeling his incorrect conclusion comes from confusion between consumerism and capitalism.
Consumerism is only the engine that powers the car of capitalism. That car is driven by senior corporate executives. The car is owned by the stockholders of those corporations. Companies are not valued by the products or services they produce and the money that brings in. Their worth is decided by how much someone values a stake of ownership in that company. Of course that stake of ownership is represented in the form of stock whether private or public. When it is public, it is not usually held in large quantities by individuals.
Who does own the largest quantities you may ask? By and large it is government-on the federal state and local levels. The larger the corporation, the more this is true. Whether it is individual stocks or in a form such as mutual funds, large amounts of retirement fund money are sunk into these ownership stakes.
I would therefore counter Mr. Biddle’s question with a different one: Is it immoral to own Apple stock?