Category: Economic Freedom

In the wake of last week’s Republican National Convention, and in the midst of the Democratic National Convention, it is more important than ever for voters to be thoroughly educated on each party’s platform going into the general election season. In two recent posts on the Republican Party platform, (part one, part two) Joe Carter provides a comprehensive summary of the Republican Party’s main stances (we’ll look at some of the Democratic Party’s platform issues in a later post). Some of the highlights of the platform include: (more…)

One and Indivisible is a new collection of essays on the connection between religious and economic liberty. Those who regard freedom as essential should uphold the importance of both religious and economic liberty; these essays dig deeper in search of an essential connection or natural interplay between the two.

Now on sale in the Acton Book Shop

Now on sale in the Acton Book Shop

One and Indivisible connects both freedoms as complimentary and symbiotic. Richards discovers a “virtuous cycle” between religious and economic freedom. Michael Novak traces the foundations of each through the American natural rights tradition, finding that economic liberty is both a product of and a supporter of religious freedom.

The book successfully connects the foundations of economic and religious freedom with the challenges society faces today, in the United States and abroad. Especially timely are Jay Richards’ examination of the threat to religious freedom posed by the loss of economic liberty in the Affordable Care Act and Cardinal Joseph Zen’s exploration of the paradox of high economic freedom and low religious freedom in China.

Later in the collection, a case is made for the strength of the symbiosis of religious and economic freedom in combating poverty and restoring an anthropological understanding of private property. A key thought echoed by each essayist is the ability of Christian anthropology to undergird poverty alleviation, natural law, and conclusively economic development. At the end of her essay, “Faith and Freedom and the Escape from Poverty,” Anielka Münkel Olson wraps the ideas of economic flourishing and religion together by quoting St. John Paul II in his address to the United Nations: (more…)

halo-effect1As church attendance continues to decline across the West, many have lamented the spiritual and social side effects, namely a weakening of civil society and the fabric of community life. What’s less discussed, however, is the economic impact of such a decline.

In a new study published by Cardus, Dr. Michael Wood Daly of the University of Toronto explores this very thing, researching the “economic value” of ten Toronto congregations, and finding “a cumulative estimated economic impact of approximately $45 million,” based on a combined budget of only $10 million. The study refers to this as the “halo effect,” noting the church’s value to the community, whether through social capital, community services, or physical resources and infrastructure.

The research builds on an existing framework from a pilot study done in 2010 by Partners for Sacred Spaces and the University of Pennsylvania, which resulted in similar findings. Focusing on 12 congregations, the Pennsylvania study found an economic contribution of roughly $52 million, concluding that local congregations can “now be viewed as critical economic catalysts.” Both studies evaluated a range of variables in the seven key categories, including (1) open space, (2) direct spending, (3) education, (4) magnet effect, (5) individual impacts, (6) community development, and (7) social capital and care. (more…)

shutterstock/cnnmoney

shutterstock/cnnmoney

Vox recently published an article claiming that Charles Koch is right and Bernie Sanders is wrong about how the economy is rigged. Both agree that there are laws that unfairly favor some financially over others. Sanders often claimed during his campaign that the rich have used their money to lobby for laws that favor their interests over those of everyone else.  Meanwhile, Charles Koch has condemned excessive regulation and restrictions on economic freedom that allow the few to bend laws in their financial favor against the many. In looking at the real problem in the economy, Charles Koch’s analysis of the problem comes closer to the truth.

(more…)

bourgeious-equality-mccloskeyIn Dierdre McCloskey’s latest book, Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World, she builds on her ongoing thesis that our newfound prosperity is not due to systems, tools, or materials, but the ideas, virtues, and rhetoric behind them.

Much has been made of her argument as it relates to the (ir)relevance of those material features as causes: “coal or thrift or capital or exports or exploitation or imperialism or good property rights or even good science.” But less has been said about her views on the spiritual/material as it relates to the byproducts.

I’m not yet finished with the book, but on page 70, she offers her view on the spiritual dynamics of what’s to come.

Contrary to popular claims that an increasingly prosperous free society will necessarily trend toward greed, envy, and idleness, McCloskey sees a future with more resources, and thus, more time and space for the transcendent. “One would hope that the Great Enrichment would be used for higher purposes,” she writes…”Enrichment leads to enrichment, not loss of one’s own soul.” (more…)

Blog author: jcarter
Tuesday, July 19, 2016
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Does socialism make people kinder and more caring, while capitalism makes people greedy and more selfish? No, in fact, just the opposite is true.

In this video, Dennis Prager explains the moral differences between socialism and capitalism, and why anyone who wants a kind and generous society must support one and oppose the other.

IMG_7821Guatemala is not known for freedom and stability, with a history colored by authoritarianism, political corruption, civil war, segregation, colonialism, post-colonial interventionism, and so on.

Dire poverty and street violence remain endemic, and yet hope remains: for political and economic liberty, yes, but also for freedom of spirit.

In a beautiful long-form essay for the new PovertyCure Magazine, J. Caleb Stewart explores the promise of Guatemala, highlighting the story of Antonio Cali, “a one-time socialist who began his drift from the left when he realized that entrepreneurship held more promise for the proletariat than redistribution.”

After stumbling upon a radio broadcast by an outspoken professor from Universidad Francisco Marroquín (UFM) — a Guatemalan university founded on principles of economic liberty — Antonio realized that he needn’t wait on others to transform his situation and surroundings. (more…)