On the Patheos Evangelical channel, Joseph E. Gorra talks to Rev. Robert A. Sirico, Acton Institute president and co-founder, about the publication of his new book, Defending the Free Market: The Moral Case for a Free Economy. Gorra frames the interview with this question: “Countless detractors over the years have argued that capitalism is intrinsically immoral. Is it true?”
Patheos: As you know, “capitalism” and “free markets” often invoke all sorts of various (even contradictory) images and ideas for different people. I want to start by having you articulate what it is that you are defending in this book in order to help readers break through some of the “noise” that’s out there on this topic.
Sirico: The word “capitalism” itself has Marxist connotations and is, to my mind, too narrow for the free economy I am talking about. Every sort of state or crony capitalist venture gets to use the name capitalism, and I am as suspicious of corporate welfare as I am for other kinds of welfare—and for many of the same reasons.
Patheos: What would be a better way to nuance “capitalism”?
Sirico: I really find helpful Blessed John Paul II’s delineation between what might be called “capitalisms” in his 1991 encyclical Centesimus Annus where he says that the kind of “capitalism” which should replace the collapsed Communist regimes in Central and Eastern Europe and recommended to the developing world ought to be one “which recognizes the fundamental and positive role of business, the market, private property, and the resulting responsibility for the means of production, as well as free human creativity in the economic sector…” but then he is quick to add, “even though it would perhaps be more appropriate to speak of a “business economy,” “market economy,” or simply “free economy” (see Centesimus Annus, no. 42). Such an expression of human liberty, grounded in ethical and religious tradition—especially natural law reasoning—and circumscribed by law, is to my mind, the best we can get on earth. This approach is neither libertine nor anarchistic.
Read “Is Capitalism Immoral? An Interview with Father Robert Sirico” on the Patheos Evangelical channel.
Acton Institute president and co-founder Rev. Robert Sirico’s Research on Religion podcast went live today. In it, Rev. Sirico sits down with host Tony Gill to discuss his new book, Defending the Free Market: The Moral Case for Capitalism, and a range of other topics, including the morality of capitalism, faith-based initiatives, and Austrian economics. The podcast is available to listen to or download online and regularly offers fresh perspective on relevant topics. Today’s is no exception. Check it out.
In The Daily Caller, Rev. Robert A. Sirico is interviewed by Ginni Thomas about a graphic in the March/April edition of the radical magazine Adbusters mocks people who throw off all moral restraint in the pursuit of wealth.
Adbusters is an anti-capitalist magazine founded by Marxist Kalle Lasn and was instrumental in fueling the similarly anti-capitalist Occupy Wall Street movement.
“You notice that they are precisely the ones who don’t tell us what personal responsibilities we have,” Rev. Sirico said. “They make abstract all of our obligations: It’s the obligation of the people, the obligation of the state, the obligation of some general mass of something-or-other.”
Read “Rev. Robert Sirico on the cultural left’s lack of ethics” in The Daily Caller. To see the extended 27-minute version of the video, go here.
Get your copy of Rev. Sirico’s new book Defending the Free Market: The Moral Case for a Free Economy today. (more…)
The Acton Institute recently hosted a conference in California with David Bahnsen and the Center for Cultural Leadership. Conference audio is now available online via YouTube. You can learn more about the event here.
Listen to Rev. Sirico’s talk, “Can We Be Free Without Economic Freedom,” below.
Other speakers included:
- Dr. P. Andrew Sandlin on “The Theological Roots of the Financial Crisis“
- Mr. David L. Bahnsen on “What Caused the Financial Crisis: The Left AND Right Have It Wrong” (Part I and Part II)
- Dr. Jennifer Roback Morse on “Marriage, Economy, and State: From the Family Home to the Housing Market“
“It is a common belief that capitalism ‘delivers the goods’ and creates prosperity,” says Isaac Morehouse, but does so only at the cost of our souls, our dignity and our humanity.”
Many people doubt capitalism not because they fail to see its wealth-generating capacity, but because they believe it to be immoral. I wish to contest the idea that capitalism is immoral and present evidence to the contrary. Not only do I believe capitalism passes the minimum test by failing to violate basic moral standards; I believe it actively promotes a robust sense of morality in a way far superior to any other system.
Before I present my arguments, I would like to define what I mean by the word “capitalism.” I mean only a system where individuals are free to keep, trade, use or give away property that was peacefully acquired. This is merely a negation of the use of force in the use and exchange of goods. I do not mean a system that is pro-capitalist, or pro-business or pro anything but freedom for the individual.
On FoxNews.com, Rev. Robert A. Sirico looks at the recent anti-capitalism, anti-NATO protests in Chicago:
In countless debates and conversations with modern proponents of social justice, I have noticed that they are less interested in justice than in material equality. They borrow the language of justice and the common good but have either forgotten or rejected the classical meanings of those terms.
In the classical tradition of reflection on justice (especially seen in Aristotle, St. Thomas Aquinas, and their intellectual descendants) it is clear that inequality—in the sense of unequal wealth or social status—is mostly compatible with justice, because justice is “to give to each his due.”
What one is due, of course, differs from person to person—in addition to those things due everyone: life, dignity, and liberty for example.
When we speak of the idea of the common good, we need to be open-minded about the most likely way to bring it about. The common good is, after all, a range of conditions, not a set of policies. It cannot be achieved by way of the “commonality of goods” proposed by socialists, but rather through the institutions that the socialists worked so hard to discredit.
Read “There is no ‘social justice’ without economic freedom” by Rev. Robert A. Sirico on FoxNews.com.
If you haven’t ordered your copy of Defending the Free Market: The Moral Case for a Free Economy, what are you waiting for? For those who still need some convincing, Rev. Robert Sirico continues to make the media rounds, and we continue to bring you the highlights.
Last night, Rev. Sirico was the guest of Raymond Arroyo on The World Over on the EWTN network; you can watch his 20 minute appearance below:
Father Robert also made a radio appearance last night on WLCR in Louisville, Kentucky:
This morning, Rev. Sirico joined the KZIM Morning Meeting to discuss the book in southeast Missouri:
And then followed that up with a very positive interview with Stuart Varney on Varney & Co. on the Fox Business Network:
Keep checking back on the PowerBlog; we’ll keep posting updates as Father Robert continues his media tour.
On his Koinonia blog, Rev. Gregory Jensen reviews Rev. Robert Sirico’s new book, Defending the Free Market: The Moral Case for a Free Economy.
“Daring though the argument is, especially for a Catholic priest, it is also essential that it be made since for too many people (including business people), free market economic theory and policies are little more than a justification for greed. While not denying the excesses of capitalism and real sins of capitalists, Fr Sirico wisely doesn’t allow sin to have the last word. Rather, and like St Augustine who inspired his own spiritual journey, the helps us see the goodness hidden beneath the distorting effects of moral failure.
Though irenic in tone, Sirico is unwilling to cede ground to those who imagine—wrongly in his view—that “socialism, liberalism, collectivism, and central planning” (p. 185) are morally superior and more effective in generating wealth. They aren’t and however noble the intention they are come up morally and practically short because they neither anthropological sound nor effective in caring for the material needs of the human person. The latter is especially the case when we turn to the needs of the most vulnerable among us. It is the free market that best fits the truth of the human person. And it is only the free market that has demonstrated the ability not only to lift the human person out of the poverty that was the almost universal lot of humanity even as late as 200 years ago.”
Read “More than Mere Economics” here.
Beginning today, the conference “Religion and Liberty — A Match Made in Heaven?” gets underway in Jerusalem. Sponsored by the Jerusalem Institute for Market Studies (JIMS), the Acton Institute and others, the event asks questions such as, “Is capitalism not only efficient but also moral?” In conjunction with this May 20-24 conference, Acton is offering its two Jewish monographs through Amazon Kindle at no charge.
The two titles:
- Judaism, Law & The Free Market: An Analysis by Joseph Lifshitz. [Kindle link]
- Judaism, Markets, and Capitalism: Separating Myth from Reality by Corinne Sauer and Robert M. Sauer [Kindle link]
Also see the Sauers’ 2007 Acton commentary, “Jewish Theology and Economic Theory.”
In the conference description, JIMS notes that “several speakers will discuss why Israel — in fact no country — should grant special privileges to religious institutions, nor subsidize religious activities. While few would advocate this approach for our Jewish state, there will be compelling arguments made about why religious communities in Israel would flourish with less government support. On Tuesday we will discuss how free markets enable religious communities to conveniently observe their traditions. There also will several panels which will provide the philosophical foundation for freer markets in Israel. More importantly our speakers will explain why free market policies will break down Israel’s oligarchical institutions that impose high product prices on Israelis and limit economic opportunity.”
Acton now has a dozen or so eBook offerings on social thought understood through a religious lens. For a listing of titles, please visit this page.