Which is not to say that it is perfect or superior to Earth and the larger Federationās comparatively egalitarian post-scarcity economy, or even particularly ethical.
However, from what weāre shown, the Ferengi political structure (which is clearly part and parcel with itās commercial structure) does not, with the one HUGE exception of itās treatment of women, make use of divisive social issues to distract its work force from the disadvantages of capitalism. Unlike contemporary Western capitalism, everyone on Ferenginar from the wealthiest to the poorest appears to operate from the same transparent, if morally bankrupt, ruleset, and the powerful, importantly, donāt pretend otherwise.
This is a dark but kind of brilliant aspect of the rules of acquisition - All members of society, including laborers, are taught from birth to operate from a position of mutual distrust and can operate comfortably with full knowledge that the person on the other side of the table will disregard all other concerns in order to take complete financial advantage of them, and they will do the same. This bypasses a lot of steps that would otherwise be required in terms of building trust or engaging in any kind of sales or negotiation, although there is likely a lot more onus on each individual to do the calculus on any given business transaction internally to ensure that all of their vulnerabilities are accounted for. The phrase ātrust meā must be a complete joke in all contexts.
Furthermore, because greed is not just a social value but a desirable and marketable job skill, the playing field, which is horrific from the perspective of most 24th century humans, may actually be more level than even modern capitalism. Thereās evidence to suggest that if even the poorest worker can successfully skim profits without leaving immediate evidence behind, this is almost blameless. Quark knows that Rom shaves the latinum, for example.
This is not a complete theory and Iām sure there are plenty of counterexamples, but mostly I just wanted to gripe that shit is so tough irl right now that even working as a Ferengi waiter seems like a dream by comparison.
I mean letās be clear for most of Ferengi history women were not allowed to own property of any kind - including clothing and some of their business endeavors include poaching endangered animals and literally being slave traders. I mean - I donāt think thereās any indication that Ferengi society was anything more than hyper-capitalist dystopia as a juxtaposition of the Federation socialist utopia. That Rom and Quark are goofy and lovable I think speaks more to how bad every other Ferengi is operating outside of a Federation station.
From the Federationās perspective the Ferengi are harmless and in this way they may be ethical enough to not warrant confrontation, but at the same time - the Federation does seem to stop them when theyāre doing something like slave trading so I think we can imagine that for some people in the sphere of Ferengi influence theyāre not so ethical.
On this note, part of me wonders if some of the Ferengi encountered by the Federation early on werenāt already outlaws looking to make profit outside the constraints of Ferengi ethics, such as they are.
This is a question worth asking. As others have pointed out there sort of seems to be clear that the rules are the rules and business rules trump all other rules. The Rules of Acquisition tend to be the Ferengi Allianceās highest law. Itās both a religious law and a practical one and I think therein is where the problem lies. You canāt make profit outside of the constrains of normal ethics because whatever makes profit is what is ethical to do.
This is why so many contradictory Rules exist in this system. War is good for business and peace is good for business, and neither of these are statements on what is ābadā for business. Thereās nothing here that says not to do anything and I think in this way Ferengi ethics largely comes down to thereās no precept that says I shouldnāt do this and I was able to exchange doing it for profit so ultimately it serves a higher purpose.
And since it seems like there is a fair amount of legalize extortion that happens in Ferengi while it might be technically illegal to do slavery, it might be more profitable to do it and therefore on the whole you can come out with an ethical conclusion that is āgoodā especially if youāre some mid-level Ferengi in charge of making sure that slavery doesnāt happen and youāre able to take a little bit of a kickback.
De facto slavery exists for women in Ferengi society, but the fact that no other apparent slave caste exists along with how quickly Ferenginarās patriarchy was restructured, if not quite dismantled, I think one possible barrier to an effective slave industry (certainly chattel slavery) is that there would be no concept of a person or group of people who should not be trying to earn profit, and the power structures that exist would not punish an enslaved person who was able to skim profits from any labor or administrative work they performed, nor would it necessarily reinforce their status as a slave if they were able to buy themselves out of their position.
I think Ferengi probably thinks that a person or business can own another person, but I donāt think they can conceive of a person who canāt/ or shouldnāt own anything. This is like how itās not illegal to attempt to escape prison in some countries - Thereās a recognition of the desire to be free.
Now, thatās all a huge problem when Ferengi develop interstellar travel and encounter full-blown slavers like the Orion Syndicate and other criminal elements, because 1) theyāll not only participate in the slave trade for all the reasons you said, but theyāll be really good at it, and 2) they wonāt fully understand the power structures beyond wealth which makes enslavement so egregious.
I wonder: Quarkās weapon trading may not have bothered his conscience because of him adopting human ethics, as he feared, but because he was parsing his own ethics with a fuller understanding of the implications of what he was participating in as he was learning more about alien cultures.