Posts tagged with: 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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bernie-sanders-photo1In last Tuesday’s Democratic debate, Senator Bernie Sanders stayed true to his famed aversion to capitalism, proclaiming the fanciful virtues of “democratic socialism.” Yet when prodded by Anderson Cooper — who asked, “you don’t consider yourself a capitalist?” — Sanders responded not by attacking free markets, but by targeting a more popular target of discontent: Wall Street and the banks.

“Do I consider myself part of the casino capitalist process by which so few have so much and so many have so little, by which Wall Street’s greed and recklessness wrecked this economy?” Sanders asked. “No, I don’t.”

One could be forgiven for not understanding what Sanders means by “casino capitalism.” Is it crony capitalism, in which legislative favors are secured by the rich and powerful (which conservatives also disdain)? Is it bailouts for the big banks (which, again, conservatives also disdain)? Is it basic trade and exchange on a large, complex scale, and if so, at what size does it become problematic? Does he despise the stock exchange itself? Too loud with all its blinky lights and bells? (more…)

Blog author: ehilton
Monday, February 23, 2015
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Artful-Mayhem-Feb-2012-6We know that, for economies to thrive, people must be free to start their own businesses without taxing regulations, that free trade must be the de facto means of doing business, and that cronyism and corruption must be eradicated.

But that’s not enough.

At the Institute for Faith, Work & Economics, blogger (and former Acton intern) Elise Amyx says we have to have human flourishing as well.

Economic freedom is only one component of human flourishing. We should think about it as a prerequisite, a necessary foundation to society that makes human flourishing possible.

We need to ask ourselves, once we have economic freedom, what do we do with it?

Economic freedom may be the number one force wiping out extreme poverty across the globe, but it can’t do the job alone.

In a free society, we also need a culture of creativity, a culture of voluntary generosity, and a culture virtue and in order for humanity to flourish. (more…)

The Fraser Institute has released the tenth edition of their annual report on economic freedom in North America. The report considers how such factors as size of government, takings and discriminatory taxation, and labor market freedom affect people’s freedom to choose how to produce, sell, and use their own resources, while respecting others’ rights to do the same. Read the report below to see where your state ranks.

LBJ’s so-called “war on poverty” kicked off a trajectory of public policy that has shown a remarkable tendency to create more of the same — affirming cycles of dependency, disintegrating relational capital, and over-elevating material tinkering to the detriment of the permanent things.

Yet somehow the prevailing narrative still holds that those same sickly policies are the best we can hope for, and anyone who disagrees is an enemy of the poor. If money shall be transferred from Person X to Person Y and the label on the packaging reads “anti-poverty!”, what else is there to discuss?

In a recent interview with Senator Tim Scott (R-SC), MSNBC’s Thomas Roberts assumes the common prejudice (4:11):

Roberts begins by pointing to a series of progressive measures that Scott has opposed in the past, proceeding to ask, quite presumptuously, “How do you respond to that, if your true concern is about lower income families and kids?” One can only be concerned for the poor if they subscribe to the very policies that have failed them, apparently. (more…)

[Part 1 is here.]

That most colossal blunder of Marxist experiments, the Soviet Union, collapsed more than twenty years ago, and yet Marxist thinking still penetrates the warp and woof of contemporary culture, so much so that it’s easy even for avowedly anti-Marxist conservatives to think from within the box of Marxism when considering the problem of cultural decay. Breaking out of that box means emphasizing but also stretching beyond such factors as insider cronyism, class envy, and the debilitating effects of the welfare state.

So, for instance, the influential 18th century philosopher Jean Jacques Rousseau rejected the doctrines of the trinity, the deity of Christ, miracles, and the idea of original sin, writing that at one point as a young man he suddenly felt very strongly “that man is naturally good” and that it was only from the institutions of civilization “that men become wicked.” Rousseau’s view has had enormous cultural consequences, giving credence to the perennial human impulse to do whatever feels natural, never mind how stupid or destructive.

The English writer and psychiatrist Theodore Dalrymple put it this way in an interview he gave for The Truth Project: (more…)

[Part 1 is here.]

Economic freedom does generate certain challenges. The wealth that free economies are so effective at creating brings with it temptation. Wealth can tempt us to depend on our riches rather than on God. The temptation can be resisted, as we see with wealthy biblical characters like Abraham and Job. But it’s a challenge the church should be mindful of, helping its members cultivate a balanced view of money and of our responsibility and opportunities as stewards of the things God has given us.

The free society also can be hard on communities, since the free enterprise system makes for such a mobile society. Michael Miller talks about this: the opportunities and demands generated by a complex market economy mean that people often end up moving far away from their childhood homes and the network of relationships that surrounded that home. In seeking to meet this challenge, we need to ask ourselves what strategies would effectively address the problem, and are there well-intended policies that are likely to make the problem worse. In essence, we need to exercise the virtue of prudence.

The sociologist Robert Nisbet has some useful insights here. In his 1953 work The Quest for Community, he developed the case that greater centralized political authority and social safety net spending beyond a certain minimal level actually begin to undermine civil institutions and community, since people depend less and less on their family and community bonds and more and more on state-sponsored humanitarian assistance.
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