Posts tagged with: free markets

In response to the Supreme Court ruling on Obamacare’a individual mandate, National Review Online launched a symposium — a roundup of commentary — which posed the following question: “What’s next for both conservatives and the Republican party on health-care reform?” Acton Research Director Samuel Gregg contributed this analysis:

Leaving aside the arguments that will continue about the SCOTUS ruling on Obamacare, one response of those who favor free markets and limited government must be for them to start preparing themselves for what will eventually happen, regardless of the results of the 2012 presidential election. And that’s Obamacare’s eventual economic demise. The economic track record of socialized medicine is very clear. Sooner or later, it implodes. Britain’s National Health Service is a perfect example. Even Sweden has realized that socialized medicine (and generous welfare states more generally) are unaffordable in the long term, and it has begun allowing private providers into its health-care market. In short, Obamacare’s essential economic unfeasability and extensive bureaucratization of health care (not to mention its disproportionately negative impact on the poor) will become all too clear in time. When that happens, conservatives must have off-the-shelf plans ready to go in order to restore sanity to the asylum of socialized medicine.

However, it’s also plain that conservatives, beyond citing the raw economics of real health-care reform, must ballast their case against socialized medicine with moral and cultural arguments. Far too many conservatives and free marketers critique socialized medicine almost solely in terms of efficiency and effectiveness. Economic analyses and arguments are important, but not many people will put everything on the line for a calculus of utility. Instead, critics must draw attention to the ways in which socialized medicine (1) saps personal responsibility, (2) facilitates the spoiled-brat entitlement mentality presently reducing much of Europe to an economic laughingstock, and (not least among such concerns) (3) creates an impossible situation for those of us who on grounds of faith and reason cannot and will not participate in schemes that legally require us to cooperate in other people’s choices for moral evil.

We can win numerous economic arguments. In some respects, that’s actually the easy part. But until we decisively shift — and win — the moral debate, the battle will be uphill all the way.

Read other viewpoints on NRO’s “What’s Next for the Opposition?”

In a follow up interview to “Is Capitalism Immoral?,” Joseph E. Gorra on the Patheos Evangelical channel talks with 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 begins the interview by observing that “within Western societies today there appears to be a kind of fact/value dichotomy that operates as an assumption in much of our discourse, where questions of ‘economics’ (and the sciences in general) are in the category of knowledge and facts and therefore tend to trump questions of theology.”

Patheos: The dichotomous fact/value assumption also stunts our comprehension of what is true.

Sirico: It’s also true that some economists become hegemonic in thinking that the whole of truth is seen through their particular lens of expertise, rather than appreciating the immense complexity of humanity and situating their part of the truth within the broader truth of who the human person is. But that’s not just a problem for some economists—scientism infects almost every discipline that has a strong empirical element.

It would be humorous, if it were not tragic, when one becomes so blinded by the subjectivism of such relativism that they accuse others of what they themselves are infected with. What I am trying to do is broaden our comprehension of the truth that permeates everything—in the case of my book, how the economic can be seen to emerge from a reflection of human nature and empower us to do the good intentionally.

Read “Does Capitalism Promote Greed?: An Interview with Father Robert Sirico, Part 2″ on the Patheos Evangelical channel.

David Paul Deavel has a fine review of Rev. Robert Sirico’s Defending the Free Market over at National Review Online.

Deavel notes:

What makes Sirico’s defense of a free economy all the stronger is his consistent acknowledgment that a functioning free market neither immanentizes the eschaton, making heaven on earth, nor makes a society virtuous or whole. Freedom of economic (and other) action is not the goal of society — acting virtuously in freedom is. And the intellectual and spiritual resources for virtuous action do not inhere in markets themselves. In his chapter on why state-sponsored health care is not really a compassionate answer, he writes against “the seduction that the power of economic freedom can in itself generate a system of health care marked by honesty and love.” Economic freedom must be accompanied by other kinds of freedom, particularly religious, and by people thinking about their duties toward the sick, the dying, and the poor. Homo economicus may be a useful abstraction for certain economics problems, but the human capital of love, loyalty, and sacrifice is the kind of capital required for a successful capitalism.

Read the entire review at National Review Online.

On the drive over to Acton University this morning I heard an argument on the radio about how the economy would have been fixed if only the dollar amount of the American Recovery and Reinvestment Act of 2009 would have been doubled. What a sad statement to pin your hope to in order to fix the American economy. That argument is unlikely to be uttered at Acton University. Fixing economic problems and lifting up the human condition is not measured by dollars here. Present at Acton University is the strong sense that solving complex problems and failures in society are attainable outside of centralization or a materialistic worldview.

It is easy to walk outside the community and walls of AU and give up on society. But this week has been a powerful reminder that there are hundreds of people here who are certainly brilliant, but more importantly, empowered by our Lord. The conference convicts you that you can do more to transform a hungry and needy world.

It has been a blessing to converse and share fellowship with people like Michael Novak. Novak was speaking out aggressively about the free and virtuous society when free markets were even less popular in the intellectual and academic arena. In a lecture on Alexsandr Solzhenitsyn, Ed Ericson cited Novak’s brilliant essay in response to Solzhenitsyn’s Harvard Address in 1978. Novak, in responding to that address, notes that “the most serious seekers after truth come to unexpected and remarkable convergences.” I can’t think of a better summary for the community and fellowship here at Acton University. While there are certainly theological differences, we are all united and invigorated by the truth. And as Solzhenitsyn himself declared, “One word of truth outweighs the world.”

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.


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…)

Acton President Rev. Robert A. Sirico continues to promote Defending the Free Market: The Moral Case for a Free Economy on radio and television across the country; today’s roundup of media includes two radio interviews on west coast radio stations, starting with host Brian Sussman on the KSFO Morning Show in San Francisco, California:

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Next came a trip up the coast to Medford, Oregon and the Bill Meyer Show on KMED:

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Keep checking back for more clips here on the PowerBlog; we’ll post them as we can find them.

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:

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This morning, Rev. Sirico joined the KZIM Morning Meeting to discuss the book in southeast Missouri:

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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.

Jensen:

“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.

Our friends at the Foundation for Research on Economics & the Environment (FREE) in Bozeman, Mont., have put together another strong slate of summer programs for clergy, seminary professors and other religious leaders with the aim of deepening their understanding of environmental policy. In its description of the program, FREE notes that many in faith communities “see an inherent conflict between a market economy and environmental stewardship.”

Major religious groups assert that pollution, deforestation, endangered species, and climate change demonstrate a failure of stewardship that requires reform. And of course they are correct—what, however, are the incentives and information generated by alternative reform policies? Some policies can have profoundly negative impacts on social well-being.

FREE’s goal is to help increase the understanding of religious leaders as they approach environmental policy. These leaders are influential nodes in a network of congregations, providing a conduit to disseminate market-based environmental ideas, potentially to millions of Americans.

FREE will help religious leaders understand the political economy dimensions of environmental policy reform. We will explain how basic economic principles can help achieve green goals with minimum sacrifice to social welfare. Together we will explore how a culture that values America’s founding ideals, secure property rights, and responsible prosperity, can also foster a healthy environment and promote social justice.

I’ve been to a number of these FREE events and have been impressed with the content — and that’s from someone who has grown “seminar averse” over the years. At FREE, faith leaders get the economic insights that are necessary for a deeper understanding of environmental stewardship. On the other side, policy analysts — including some of the FREE lecturers — get the faith insights that they do not ordinarily have access to in their own specialized fields. Yes, it is possible to bring together economic and moral thinking.

In a Bozeman Daily Chronicle piece titled “Environmental Stewardship and Social Justice,” FREE Chairman John Baden writes: (more…)