Acton Institute Powerblog

Getting Religion Back into Our Economic Lives

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National Review Online’s Kathryn Jean Lopez talks to Rev. Sirico about his new book, Defending the Free Market: The Moral Case for a Free Economy, the link between economic liberty and public morality, and the differences between socialism and capitalism:

LOPEZ: How can you get more greed with socialism than capitalism?

FR. SIRICO: To the extent that socialism holds back creativity and thus productivity, it increases poverty. When people become desperate, even good people can become self-centered. Few of us are at our best in crowds where everyone is trying to get out the same exit, or when trying to grab for the last remaining sale item. Socialism begins with the material world (the redistribution of pre-existing things); capitalism begins with ideas and dreams (the creation of things). Socialism increases the hoarding instinct and often places power in the hands of petty dictators (wait in line in a governmental office to see what I mean). We all know where that leads.

Of course, I am not saying that a system of free exchange will abolish greed. But even here, free markets and competition tend to temper greed, subordinating it to the service of others, which is the only way you are going to be successful in the market.

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Joe Carter Joe Carter is a Senior Editor at the Acton Institute. Joe also serves as an editor at the The Gospel Coalition, a communications specialist for the Ethics and Religious Liberty Commission of the Southern Baptist Convention, and as an adjunct professor of journalism at Patrick Henry College. He is the editor of the NIV Lifehacks Bible and co-author of How to Argue like Jesus: Learning Persuasion from History's Greatest Communicator (Crossway).

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