Phil Lawler over at Catholic Culture has written a brief and insightful piece that addresses a question frequently asked, “Is Catholic Social Teaching Inherently Liberal?” It is worth a read. Excerpt:
Read more on Obama and the Ideals of Catholic Social Thought…
The market place is very complicated and intricate in terms of decision making processes and human relationships. We have to start thinking in terms of multiple layers, multiple dimensions and an astonishing level of complexity when making sense of human beings and their moral behavior.
The belief that the essence of capitalism is greed is perhaps the biggest myth Jay W. Richards tackles in his new book, Money, Greed, and God: Why Capitalism is the Solution and not the Problem. One reason for confronting this challenge is that many free market advocates subscribe to the thought that capitalism produces greed, and for them that’s not necessarily a negative. But for those with a faith perspective, greed and covetousness are of course serious moral flaws.
It’s also the kind of myth that less articulate writers would rather not challenge, especially in this troubling economic climate. Richards does however have a skill for tightly honed logical arguments, and he not only is able to defend free markets but tear lethal holes into many of the economic ramblings of the religious left. He even takes on holy of holies like fair trade and Third World debt relief. Richards argues that the free market is moral, something that may come as a surprise to many people of faith. This book provides a crushing blow to those involved in the ministry of class warfare or those who wish to usher in the Kingdom of God through “nanny state” policies.
The book divides into eight chapters, with each chapter discussing a common held economic myth like the “piety myth” or “nirvana myth.” Richards says the piety myth pertains to “focusing on our good intentions rather than on the unintended consequences of our actions.” The nirvana myth characterizes the act of “contrasting capitalism with an unrealizable ideal rather than with its live alternatives.” Richards himself states, “The question isn’t whether capitalism measures up to the kingdom of God. The question is whether there’s a better alternative in this life.”
The influence of libertarian economist Henry Hazlitt and Wealth and Poverty author George Gilder are evident through out this book. But the overarching strength of Richards work is how he places the free market message into the context of Christian discussions and debate. Unfortunately before this response, many of the economic arguments by the Christian left weren’t properly countered in popular mediums. Furthermore, the wanton excess of prosperity gospel advocates only fueled or provided ammunition for the religious left’s rebuke of the free market. Read more on Review: Money, Greed, and God…
Much of the blame for the current financial crisis has been aimed at Wall Street and the bankers who, the story goes, created toxic debt instruments and then lined their own pockets with the proceeds. In “Verdict on the Crash: Causes and Policy Implications,” a new analysis from economists and scholars — including Acton Institute Research Director Samuel Gregg — the London-based Institute of Economic Affairs comes to the opposite conclusion: It was governments and regulators who erred. Moreover, the IEA report says, the people most often berated for their part in the crisis – the hedge fund managers and those who run tax havens – are among the least guilty. The report also spells out the need for a “radical overhaul” of the financial system to guard against a repeat of the errors that led to the crisis.
Once again, sociologists and journalists are predicting the demise of Christianity as a major influence in the public life of America. Hunter Baker pokes holes in that theory, and observes that these persistent predictions are coming from “those anxious for it to occur.”
Read more on Acton Commentary: End Times for Christian America?…
Economists and business schools have, in recent decades, rightfully praised entrepreneurs for their ability to create wealth and transform entire industries. But there’s more to it than that, says Sam Gregg in his commentary. “If taxes are high, property-rights unprotected, and corruption the norm, then the environment embodies major deterrents to wealth-generating entrepreneurship,” he writes. “Why would people risk being entrepreneurial when they can’t assume their ideas won’t be stolen or their profits arbitrarily confiscated?”
Read more on Acton Commentary: Entrepreneurship isn’t enough…
[Editor's Note: We welcome Ken Larson, a businessman and writer in southern California, to the PowerBlog. A graduate of California State University at Northridge with a major in English, his eclectic career includes editing the first reloading manual for Sierra Bullets and authoring a novel about a family's school choice decisions titled ReEnchantment, which is available on his Web site. For 10 years Ken was the only Protestant on The Consultative School Board for the Roman Catholic Diocese of Orange near Los Angeles and chaired the inaugural Orange County Business Ethics Conference in support of needy parish schools in the diocese. He enjoys sailing and singing in the choir at the Anglo-Catholic church at which he and his wife worship.]
With Memorial Day and July 4th fast approaching I found myself thinking over the weekend about the recent past.
Several years ago we moved to a tony neighborhood in Orange County, California. At the time it was easily eligible for the term “Reagan Country” but in the last election Obama out polled McCain in our Congressional District. A neighbor had a Hillary fundraiser at her home a few years ago. There’s a lot of soccer on Sunday but our family always opted for church.
Around 1996 I was asked to chair the neighborhood’s July 4th parade. It was one of those tasks that occur in small communities where many folks pitch in to help from time to time and I was flattered at the invitation. But as is the case with lots of things we have the opportunity to participate in, I noticed this parade and the accompanying festivities — a barbecue and day at the beach with food and drinks available — were missing what I knew they needed. They were missing an invocation.
I ran the idea of having a local pastor from the church at the edge of the community where our family worshiped deliver that invocation and the denizen who had tabbed me as chairmen thought it a splendid contribution. Plans went forward with the same old “same old stuff” and I extended an invitation to the cleric. He was available. Read more on What do our holidays mean to us?…
In today’s Detroit News, Acton Research Director Samuel Gregg talks about the sort of “moral, legal and political environment” that must exist if entrepreneurs are to flourish. He applies these precepts to the very serious economic problems in Michigan, where Acton is located:
Read more on Gregg on the Moral Environment of Entrepreneurship…
Former Acton research fellow Jay W. Richards will be on the Michael Medved Show today talking about his new book, Money, Greed, and God: Why Capitalism Is the Solution and Not the Problem.
What’s wrong with populism? Nothing, necessarily. But, to hazard a tautology, populism is only as good as the people. I think this territory was covered pretty well by Alexis de Tocqueville, whose view was in turn covered pretty well by Sam Gregg in his commentary of a couple weeks ago:
