Posts tagged with: capitalism

russell brand socialismJohn Stossel is fed up with celebrities whining about the very economic system that made them rich. From Russell Brand demanding redistribution of wealth to George Lucas decrying “capitalist democracy,” celebrities who are rolling in dough seem to be suffering from some sort of entrepreneurial guilt. Of course, they aren’t feeling guilty enough to ditch one of their seven planes (à la Harrison Ford) so as to lower their carbon foot print, but guilty enough to tell us that capitalism is wrong. Very wrong.

It’s bad enough that celebrities trash the only economic system that makes poor people’s lives better. What’s worse is that many are hypocrites. (more…)

Rush Limbaugh kicked up some controversy over the past week with his analysis of Pope Francis’ Evangelii Gaudium:

…the pope here has now gone beyond Catholicism here, and this is pure political.  I want to share with you some of this stuff.

“Pope Francis attacked unfettered capitalism as ‘a new tyranny’ and beseeched global leaders to fight poverty and growing inequality, in a document on Tuesday setting out a platform for his papacy and calling for a renewal of the Catholic Church. … In it, Francis went further than previous comments criticizing the global economic system, attacking the ‘idolatry of money.'”

I gotta be very careful.  I have been numerous times to the Vatican.  It wouldn’t exist without tons of money.  But regardless, what this is, somebody has either written this for him or gotten to him.  This is just pure Marxism coming out of the mouth of the pope.  Unfettered capitalism?  That doesn’t exist anywhere.  Unfettered capitalism is a liberal socialist phrase to describe the United States.  Unfettered, unregulated.

You can read his complete critique at the link above. The Catholic Channel on Sirius XM Satellite Radio responded by calling upon Acton President Rev. Robert A. Sirico to provide a critique of Limbaugh’s statements. You can listen to that interview via the audio player below:

Acton On The AirContinuing our roundup of Acton comment on Evangelii Gaudium, here’s Acton’s Director of Research and Author of Tea Party Catholic Samuel Gregg joining host Al Kresta on Ave Maria Radio’s Kresta in the Afternoon to discuss Pope Francis’ Apostolic Exhortation, with particular emphasis on its economic elements. This interview took place on Monday, December 2nd.

Last night on CNBC’s The Kudlow Report, PovertyCure director and Acton Research Fellow Michael Matheson Miller joined host Lawrence Kudlow and Rusty Reno, Editor of First Things magazine, to discuss the position of the Roman Catholic Church on global capitalism in light of Pope Francis’ Apostolic Exhortation ‘Evangelii Gaudium.’ The video is embedded below.

2716popefrancis_00000001928With the November 26 publication of Pope Francis’s apostolic exhortation Evangelii Gaudium, we have the first teaching document that is truly his own. And it very much shows, both in style and content, compared to the encyclical Lumen Fidei, which was mostly written by Pope Benedict XVI. Evangelii Gaudium is full of the home-spun expressions of faith that have made Francis the most popular public figure on the planet, and the exhortation is certain to succeed in challenging all of us to live in more sincere, compassionate, and self-giving ways. It has also provided some much-needed clarification of the Pope’s previous statements on abortion and marriage that had a few wondering, with only slight exaggeration, whether the Pope was actually Catholic.

By now it is obvious that, in his words and deeds, Pope Francis has a remarkable ability to speak to the heart of the common man, someone who may not know much about or regularly practice his faith but wants to be on good terms with God and other people. It is equally obvious that Francis has made the “new evangelization,” i.e. bringing back fallen-away or secularized Catholics, central to his pontificate. By making the proclamation of the Good News of Jesus his number one priority, the Holy Father is fulfilling his God-given mandate to feed Christ’s sheep. Like nearly everyone else who has been closely watching him in action, I have been moved and inspired to live my faith more intensely, all the while recognizing the inadequacy of my efforts if it weren’t for God’s grace and untiring mercy.

How can we account for Francis’s popularity? Some in the media sense possible changes in Church teaching on all kinds of (mostly sexual) matters, but I think there’s more to it. Pope Benedict’s intellectual approach to explaining Christianity has been followed by Pope Francis’s commonsensical one. Each undoubtedly has its strengths and weaknesses and will carry greater appeal to different sorts of people. It may not be certain how the Holy Spirit selects and inspires any particular pontiff, but one can hazard a guess and say Francis’s style and tone may be exactly what the Church needs at this moment in history.

There are instances, however, when a more considered understanding of technical matters would be preferable; the exhortation’s tirades against the market economy are one. (more…)

lightbulbIn today’s Wired, Microsoft founder Bill Gates shares his thought on how busines, government and philanthropy can make positive changes in the world. Gates makes it clear that he is pro-capitalism:

I am a devout fan of capitalism. It is the best system ever devised for making self-interest serve the wider interest. This system is responsible for many of the great advances that have improved the lives of billions—from airplanes to air-conditioning to computers.

(more…)

Among many other bizarre claims in his most recent article at The American Conservative, Patrick Deneen writes,

Today’s conservatives are liberals — they favor an economy that wreaks “creative destruction,” especially on the mass of “non-winners,” increasingly controlled by a few powerful actors who secure special benefits for themselves and their heirs….

Pace Inigo Montoya, I actually have no idea what Deneen thinks creative destruction means in this context.

Setting aside the question of whether or not it is a bad thing (or accurate, for that matter) to say that “[t]oday’s conservatives are liberals,” I am far more concerned with how Deneen thinks creative destruction is “wreaked” upon “non-winners.” This is further complicated by his implication that creative destruction supports, rather than threatens, “a few powerful actors.” (more…)

Earlier this month, U.S. Supreme Court Justice Antonin Scalia gave a lecture at the Lanier Theological Library, in which he explored the values of capitalism and socialism and their relative consistency with Christianity and the common good. While not asserting that either system is inherently “more Christian,” he does comment on the extent to which Christian principles are able to participate in each. He states:

While I would not argue that capitalism as an economic system is inherently more Christian than socialism … it does seem to me that capitalism is more dependent on Christianity than socialism is. For in order for capitalism to work – in order for it to produce a good and a stable society – the traditional Christian virtues are essential.

Additional quotes from the lecture are featured in a Houston Chronicle article by Cindy George, which was listed as a PowerLink on the Acton Blog a few weeks ago.

See the complete video of Justice Scalia’s lecture below.

DollarSignCapitalism is routinely castigated as an enemy of the arts, with much of the finger-pointing bent toward monsters of profit and efficiency — drooling only for money, caring nothing for beauty, and so on. Other critiques take aim at more systemic features, fearing that the type of industrialization that markets sometimes tend toward will inevitably detach artists from healthy social contexts, sucking dry any potential for flourishing as a result.

Yet while free economies certainly introduce a unique series of challenges for artists and consumers alike, and despite the wide array of bottom-dollar record-company execs and merchandising-obsessed Hollywood crackpots that demonstrate such obstacles, recent increases in economic empowerment have also led to plenty of artistic empowerment in turn.

Empowered to Create

The more obvious and overarching examples of this have to do with the simple ways in which widespread prosperity has freed up our time, energy, and resources. As collaboration and innovation accelerate, folks are continuing to discover new ways of doing more with less. As result, the tools and time needed to participate in a variety of artistic ventures, from hand-painting to stage acting to music production, are closer to common fingers than ever before.

Of course, market forces aren’t perfect. As channels of culture, they mostly funnel what they funnel, and that includes squalid appeals to the lowest common denominator. But neither are such forces limited to the hands of the tasteless and trite. Indeed, despite the best efforts of the powerful and privileged, many artists are now finding themselves increasingly equipped to bypass the big shots altogether, taking their art and their audiences with them, from the purchase of their paintbrushes to the publication of their portrait.

As a young boy, I dreamed of one day becoming a filmmaker. After working only two summers at minimum wage, I was able to save up enough cash to put that dream to the test, purchasing a-state of-the-art video camera and my very own digital editing equipment. Thanks to the innovations of others, and the basic freedoms that unleashed it all in the first place, at the age of 16, I was able to secure the tools needed to begin my work — tools that, only a decade prior, were confined to the hands of Hollywood bigwigs. (more…)

As we noted yesterday, rock star Bono is now preaching the good of capitalism in alleviating poverty. James Pethokoukis at AEI illustrates exactly what happened in China when the power of entrepreneurial capitalism was unleashed.

china

Bono spoke on the topic of capitalism and poverty at the 2012 Global Social Enterprise Event at Georgetown University: