Posts tagged with: free markets

Acton’s busy week of media appearances continued last night with Acton President Rev. Robert A. Sirico joining guest host Arthur C. Brooks – president of the American Enterprise Institute – on The Hugh Hewitt Show to discuss Pope Francis, Evangelii Gaudium, and the compatibility of Catholic social teaching with free market capitalism. We’ve embedded the interview for you below, and added the video of Arthur Brooks’ 2012 Acton University plenary address after the jump.

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Acton Institute President Rev. Robert A. Sirico stopped by the studios of TheStreet.com today and spoke with host Joe Deaux about how Pope Francis differs from his predecessors in his approach to economic issues.

The pope is emphasizing “human solidarity,” Sirico said. “He quoted Benedict by saying that globalization has brought us to be close, to be neighbors, but not to be brothers.” Achieving a sense of fraternity is the goal.

We’ve embedded the video for you below.

Last night, Acton Institute President Rev. Robert A. Sirico joined host Lawrence Kudlow and author Naomi Schaefer Riley on The Kudlow Report to discuss the selection of Pope Francis as Time Magazine’s Person of the Year, the effect he is having on the Catholic Church worldwide, and his views on economics and free markets. We’ve embedded the video of the interview from CNBC below.

In today’s Acton Commentary I explore how our hyper-regulated and increasingly statist healthcare system is chasing off good physicians.

A recent article in Forbes by Bruce Japsen provides some additional support for that argument:

Doctor and nurse vacancies are approaching nearly 20 percent at hospitals as these facilities prepare to be inundated by millions of patients who have the ability to pay for medical care thanks to the Affordable Care Act.

A survey by health care provider staffing firm AMN Healthcare shows the vacancy rate for physicians at hospitals near 18 percent in 2013 while the nurse vacancy rate is 17 percent. That vacancy rate is more than three times what it was just four years ago when vacancies for nurses were just 5.5 percent in 2009 while vacancies for doctors were 10.7 percent.

It’s not all doom and gloom. In an earlier Forbes piece, Scott Gottlieb, an internist and fellow at the American Enterprise Institute, argues that technological and organizational innovation will allow quality health care to be delivered using fewer physicians.

If allowed to proceed, these innovations may actually increase market freedom in one area. Physician organizations and medical schools often have replicated a pernicious feature of the traditional guild, namely, finding ways to limit the number of new physicians not purely as a quality control measure but, beyond this, as a way to ensure that existing physicians are in high demand. (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:

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.

Acton Institute Director of Research Samuel Gregg has been busy on the interview circuit over the past few days as news organizations look for intelligent analysis of Evangelii Gaudium, Pope Francis’ Apostolic Exhortation that that was released last week. On Monday, the Wall Street Journal called upon Gregg to provide his thoughts on the economic content in the exhortation on Opinion Journal Live; we’ve embedded the video below.

On Wednesday, Rev. Robert A. Sirico, Acton’s President and co-founder, offered his initial comments on “Evangelii Gaudium,” the Apostolic Exhortation released on November 26 by Pope Francis. This morning, Rev. Sirico spent some time extending his thoughts during the course of a couple of radio interviews.

In his first interview of the day, Rev. Sirico appeared on The Chris Salcedo Show on The Blaze Radio Network:

Later on, Rev. Sirico joined host Larry Kudlow on 77 WABC in New York City for a nearly 40 minute discussion of the document, which is well worth your time to listen to in full:

On June 27, 2013, Samuel Gregg, Acton’s Director of Research, discussed his book Becoming Europe: Economic Decline, Culture, and How America Can Avoid a European Future as part of the 2013 Acton Lecture Series. If you weren’t able to join us here at the Acton Building for the lecture, you can watch below:

 

Many of you know Jay Richards from his regular lecturing at Acton University. He has a newly co-authored piece in The Daily Caller, “Enterprise is the most ‘effective altruism.’” There’s more to be said on the complex issue of helping the poor than can be put in a single op-ed, of course, but there’s some great food for thought here, particularly for those who view business and markets as necessarily part of the problem. Jay and Anne Bradley use the example of Microsoft to explain the confusion:

The Gates Foundation has saved an estimated 5 million lives thus far. But we rarely hear of the countless lives saved or improved by the profit-seeking activities of Microsoft…. One effect is the Foundation itself. To be able to start such a large aid organization, Bill Gates first had to be a successful entrepreneur. As a philanthropist, Gates is not “giving back” to the world, as if he had taken from it in the first place. His philanthropic giving is possible only because he first “gave” as an entrepreneur.

… Microsoft succeeded only because they provided value for hundreds of millions of people. Gates had to meet the needs of his customers … And to stay ahead, he had to invest wisely rather than consume or give away all the profits.