Acton Institute Powerblog Archives

Post Tagged 'markets & morality'

Review — Capitalism: A Love Story

The family friendly Movieguide published my review of Michael Moore’s trashing of the market economy, “Capitalism: A Love Story.” Excerpt: Perhaps the most egregious bit of manipulative effort Moore displays in his latest attempt, which by all reports has failed miserably at the box office, is his attempt to use religion, in particular the social teachings of the Catholic Church, to grant an imprimatur to his un-nuanced critique of the business economy. Continue Reading...

The Financial Crisis: What We (Still) Haven’t Learned

It’s over a year now since the 2008 financial crisis spread havoc throughout the global economy. Dozens of books and articles have appeared to explain what went wrong. They identify culprits ranging from Wall Street financiers overleveraging assets, to ACORN lobbying policy-makers to lower mortgage standards, to politicians closely connected to government-sponsored enterprises such as Freddie Mac and Fannie Mae failing to exercise oversight of those agencies. Continue Reading...

Economic Liberalism and its Discontents

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. Continue Reading...

The Market, School of Virtue

This week’s Acton Commentary: Does the market inspire people to greater practical virtue, or does it eviscerate what little virtue any of us have? Far from draining moral goodness out of us—as many think—the free market serves as a “school of the practical virtues.” Rather than elevating greed and self-sufficiency, the market fosters interdependence and cooperation. Continue Reading...

Clergy and Economists: Allies Not Adversaries

We welcome a new contributor to the Acton Commentary crew: Dr. Dwight R. Lee, the William J. O’Neil Endowed Chair in Global Markets and Freedom at Southern Methodist University. In this week’s commentary, Lee discusses how the social objectives of clergy and economists are remarkably similar, even though their “windows on the world” suggest different approaches to achieving the shared aim of building a better, more humane society. Continue Reading...

Gregg on the Moral Environment of Entrepreneurship

In today’s Detroit News, Acton Research Director Samuel Gregg talks about the sort of “moral, legal and political environment” that must exist if entrepreneurs are to flourish. He applies these precepts to the very serious economic problems in Michigan, where Acton is located: … in the midst of this enthusiasm about entrepreneurship, we risk forgetting that entrepreneurship’s capacity to create wealth is heavily determined by the environments in which we live. Continue Reading...

Natural Capitalism

Over at the OrthodoxNet.org blog, editor Chris Banescu had an entertaining exchange in the comment boxes with a writer who asserted that “capitalism can be just as infected with materialism and the concomitant need to tyrannize as communism.” Here is Chris’ response: Capitalism is really not an ideology. Continue Reading...