Category: Economic Freedom

property and practical reasonAt Public Discourse, Samuel Gregg (Acton’s director of research) discusses Adam Macleod’s Property and Practical Reason, which Gregg says attempts to rethink this key element of economic liberty and renews “the manner in which natural law scholars have traditionally addressed this topic.”

Gregg first outlines classical reflections on natural law. Then, he offers what he sees as Macleod’s insights:

In addition to drawing on new natural law theory (of which he provides one of the most accessible explanations that I’ve read), MacLeod is attentive to other exponents of pluralist non-paternalistic perfectionist accounts of law, such as the liberal legal theorist Joseph Raz. MacLeod’s core thesis is summarized concisely in the second sentence of the book’s introduction: “institutions of private ownership are justified, and in many communities are required, by a basic moral principle. That principle is equal respect for human beings as agents of practical reason.”

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right to workIn places like Chicago, ties between unions and Catholics often run deep. However, with right-to-work becoming a voting issue in many states, the intersection of union membership and church membership is becoming a hot topic. Chicago Archbishop Blase Cupich got himself tangled in this arena this week:

At the request of local unions, Chicago Archbishop Blase Cupich recently spoke at a West Side union hall about the church’s teachings on work and workers.

After the speech, Democrat House Speaker Michael Madigan and government unions boasted that Cupich and the Catholic Church were on their side.

“The archbishop has said the same thing that we’ve been saying in Springfield,” Madigan said.

Government unions in Illinois promoted their interpretation of the archbishop’s comments online.

“Cupich today reaffirmed the Catholic Church’s longstanding commitment to collective bargaining, to unions … a message a certain governor might want to consider,” Service Employees International Union posted on its Facebook page.

Acton’s Samuel Gregg, clarifies Church teaching regarding unions:

The church supports the right of workers to join unions. Catholic social teaching has never, however, taught that workers are required to join unions — let alone be forced to join unions,” said Samuel Gregg, research director at the Acton Institute, a conservative think tank that studies the intersection of religion and public policy.

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“Globalization must do more than connect elites and big businesses that have the legal means to expand their markets, create capital, and increase their wealth.” –Hernando de Soto

6898950_7a0fd3b3d9_bWhen assessing the causes of the recent boom in global prosperity, economists and analysts will point much of their praise to the power of free trade and globalization, and rightly so.

But while these are important drivers, we mustn’t forget that many people remain disconnected from networks of productivity and “circles of exchange.” Despite wonderful expansions in international free trade, much of this has occurred between “outsiders,” with many partners still languishing due to a lack of internal free trade within their countries.

Much of this is due to an absence of basic property rights, as economist Hernando de Soto argues throughout his popular book, The Mystery of Capital. If the global poor don’t have the legal means or incentives to trade beyond families and small communities, so-called “globalization” will still leave plenty behind. (more…)

The highly popular “buy-one, give-one” models — as epitomized by the popular TOMS Shoes brand — have long held the attention of Western do-gooders. It’s quick, it’s easy, and hey, people like the shoes. And let’s not forget the power of the Warm & Fuzzies.

Yet many are beginning to raise concerns about the actual impact of these activities. As Acton’s Michael Matheson Miller recently explained in an interview with Knowledge@Wharton, “The one-for-one model can undermine local producers. When you give free things, why would you buy local shoes?”

In the debut of his new smarty-pants comedy show, “Adam Ruins Everything,” Adam Conover chooses to set his sights on precisely this:

To their credit, TOMS Shoes has taken certain steps to reconsider its model, including a decision to “employ 100 Haitians and build a ‘responsible, sustainable’ shoe industry in Haiti.” But alas, by all public appearances, there is still a ways to go. (more…)

Blog author: dpahman
Thursday, September 24, 2015
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Today at the Library of Law and Liberty, I take a cue from probablist Nassim Nicholas Taleb and call for the commemoration of a National Entrepreneurs Day:

One has been proposed in the U.S. House of Representatives, and probabilist Nassim Taleb has given us a fully developed argument as to why we should have one. I second the motion. In Antifragile, his 2012 book, Taleb confesses that he is “an ingrate toward the man whose overconfidence caused him to open a restaurant and fail, enjoying my nice meal while he is probably eating canned tuna.”

This lack of gratitude is a moral failing of all of us in modern society, says Taleb. Hence his idea:

In order to progress, modern society should be treating ruined entrepreneurs in the same way we honor dead soldiers, perhaps not with as much honor, but using the exact same logic. . . . For there is no such thing as a failed soldier, dead or alive (unless he acted in a cowardly manner)—likewise, there is no such thing as a failed entrepreneur or failed scientific researcher.

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pope-oreoBased on their latest headline, it looks like someone from the Acton Institute is writing for the The Onion:

Pope Francis Reverses Position On Capitalism After Seeing Wide Variety Of American Oreos

As the article says:

Admitting the startling discovery had compelled him to reexamine his long-held beliefs, His Holiness Pope Francis announced Tuesday that he had reversed his critical stance toward capitalism after seeing the immense variety of Oreos available in the United States. “Oh, my goodness, look at all these! Golden Oreos, Cookie Dough Oreos, Mega Stuff Oreos, Birthday Cake Oreos—perhaps the system of free enterprise is not as terrible as I once feared,” said the visibly awed bishop of Rome while visiting a Washington, D.C. supermarket, adding that the sheer diversity of flavors, various colors and quantities of creme filling, and presence or absence of an outer fudge layer had led to a profound philosophical shift in his feelings toward the global economy and opened his eyes to the remarkable capabilities of the free market.

Sadly, the article is only satire. But buried underneath the humor is a serious question worth considering: What does our abundance of choice say about our economic system? As I wrote in my post on “3 Things I Wish Pope Francis Knew About a Free Economy“:
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socialism-0916After getting home from work you get a statement in the mail from the local government saying you owe $20,000 for college tuition. You’re surprised to receive the bill since (a) you never went to college yourself and (b) your own children are still in preschool. Upon reading the fine print you discover the expected payment is not to cover any costs you’ve incurred but to pay for the tuition of college students in your neighborhood.

Outraged, you turn to your neighbors to complain about the injustice. They assure you, though, that this is nothing to be concerned about. Americans aren’t paying more for college tuition, one explains, “The only change is how we now pay for college.” Before, individuals were expected to cover their costs of attending college. Now, everyone is expected to pay. “So you see,” another says cheerfully, “there’s no real change.”

After hearing this you would probably want to move to a new neighborhood since you are surrounded by people who can’t distinguish between your money and a collective pool of cash that can be distributed at the whim of the government.

Unfortunately, this isn’t a completely hypothetical scenario. This is the actual rationale some people are making to justify presidential candidate Sen. Bernie Sanders proposal for $18 trillion in spending. In the Washington Post, Paul Waldman says,
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