Forgive the blunt title of this blog post, but the point needs to be made in no uncertain terms.
The Zenit News Agency has interviewed John Medaille, author of Toward a Truly Free Market: A Distributist Perspective on the Role of Government, Taxes, Health Care, Deficits, and More, which calls for a direct if brief (more later, perhaps – I have yet to read the book) response from this Catholic defender of the market economy.
Nicolae Ceausescu with his wife Elena
It is a good thing from time to time to step back and remember just what it is that we who believe in the free society fight for each day. I stumbled across Michael Totten’s exploration of Romania – Twenty Years After the Fall of the Tyrant. With the passage of time, it is easy to forget – at least for those of us who never directly experienced it – just how suffocating and cruel the Communist dictatorships of the 20th century were.
It’s not too late to order The Call of the Entrepreneur and The Birth of Freedom for stocking stuffers. An eye-opening report by Patrick Courrielche at Big Hollywood makes for a fine motivator. Some excerpts:
Got the socialism blues? Worried that a friend or maybe a teenage son or daughter may contract a nasty case of it? Marvin Olasky at World magazine recommends former Acton research fellow Jay Richards’ 2009 HarperOne book, Money Greed and God: Why Capitalism Is the Solution and not the Problem:
How do we restore confidence in free markets? Formulate a robust explanation of their moral value. Read Economic Liberalism and its Discontents on Public Discourse.
In his recent book The Creation and Destruction of Value, Princeton University’s Harold James observes that the 2008 financial crisis resulted in more than the devastation of economic value. It also facilitated a collapse of values in the sense of people’s faith in particular ideas, institutions, and practices. Among these, few would question that economic Liberalism’s credibility was significantly undermined.
Kishore Jayabalan, director of Istituto Acton (the Acton Institute’s Rome office), was interviewed by Vatican Radio concerning the authentic human development concerns of the whole person, which is a topic discussed in Caritas in Veritate. Jayabalan discussed how development schemes throughout the world should look at the aspirations of each individual person. Furthermore, in Caritas in Veritate there is a mention of a “breathing space” used a few times in the encyclical. This breathing space aspect means developing a vibrant and diverse society and not allowing central planning to decide every aspect of a person’s life; it is also important to place the individual at the center of the development.
Read more on Caritas in Veritate: Jayabalan and Gregg Radio Interviews…
In a Forbes blog post titled “Failure of Morality, Not Capitalism,” Rich Kaarlgard counters the critics of supply-side capitalism by pointing to an absence of morality. Kaarlgard declares:
Many people do blame capitalism for bringing us to this low moment in the economy. Do they have a point?
Read more on Kaarlgard Declares ‘Failure of Morality, Not Capitalism’…
Shaped by the conservative movement since childhood, publisher Alfred S. Regnery offers an insider’s take on the influence of conservatives in Upstream: The Ascendance of American Conservatism (2008). Regnery’s father Henry started the company in 1947 and published conservative classics such as God and Man at Yale by William F. Buckley Jr., and The Conservative Mind by Russel Kirk.
Regnery covers just about everything including think tanks, publishers, candidates, religious conservatives, financial donors, the courts, the Constitution, and free markets. He does an excellent job at explaining the merger of traditionalists, anti-communists, and libertarians in to one political force due in large part to the writings of William F. Buckley, Jr. and other intellectuals,
grassroots activists, and the emergence of Barry Goldwater. Regnery also traces how conservative leaders were able to separate themselves from some of the more radical conspiracy minded leaders like Robert Welch of the John Birch Society. Russel Kirk responded to Welch’s charge that President Dwight D. Eisenhower was an agent of a world communist conspiracy by quipping “Ike isn’t a communist. He is a golfer.”
While Eisenhower was a disappointment for conservatives, Barry Goldwater’s presidential candidacy unified and excited the conservative movement on a national scale. Regnery notes:
Not only did people donate their time to Goldwater in record numbers, but they donated their money, too. Until the 1964 campaign presidential elections were financed exclusively by large contributions from wealthy contributors, corporations, lobbyists, and other special interest groups. In 1960, twenty-two thousand people had contributed $9.7 million to Kennedy’s campaign and forty-four thousand people had contributed a total of $10.1 million to Nixon’s. LBJ’s money largely came from labor unions and fat cats. But over one million middle-income people contributed to Goldwater’s campaign. When the campaign was over, Goldwater had the names, addresses, and history of over five thousand donors. He showed that candidates could actually raise more money in small amounts from large numbers of people, and thereby gain financial independence from the GOP establishment.
The Goldwater candidacy failed at electing a conservative to the highest office, but it allowed for its leaders and activists to learn valuable lessons for the future. The emergence of Ronald Reagan and “The Speech” was undoubtedly the greatest triumph of Goldwater’s unsuccessful presidential bid.
Regnery also incorporates succinct and effective arguments on why conservatives opposed Great Society programs, wage and price controls, and new government agencies. He also identifies Richard Nixon’s vast expansion of government power through regulation as another key building block for statist policies.
Another intriguing study by the author is an analysis of neoconservatives, the new right (religious conservatives), and Phyllis Schlafly and the rise of the grassroots.
Regnery demolishes the myth that the conservative movement was largely funded by Texas oil tycoons with briefcases of money or big corporations. In fact, he points out that many big businesses and corporations opposed conservatism because of corporate desire for regulation and less competition in the marketplace. “The right has never had the sort of money available to the left. During the early years of the movement, from 1945 into the mid-1970′s, no more than about a dozen foundations were willing to give money to conservative causes, and most of those were small, family charitable organizations,” says Regnery. The author discloses fascinating stories of notable donors who gave out of concern over the rising decay of free market principles. One example being William Volker, who purchased an academic chair for Frederick Hayek at the University of Chicago. Read more on Review: Upstream by Alfred Regnery…
In the latest edition of an otherwise scholarly theological journal, a writer, who only ever writes about one subject, attacked the free market as usual. He wrote: “Neither can economics be satisfied with leaving human beings to the mercy of markets with their supposed ‘laws.’. . .” While there is certainly no space to take on his whole article, this part might just be the most serious error in it.
The Summer issue of City Journal features a piece worth reading by Guy Sorman titled “Economics Does Not Lie.” The paper includes weighty arguments favoring a free market economic system and the author does a good job explaining the rationale of those who criticize a free economy. Sorman says:
