Posts tagged with: Rev. Robert Sirico

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:

12 Day: Defending the Free Market: The Moral Case for a Free Economy

12 Day: Defending the Free Market: The Moral Case for a Free Economy

Father Sirico argues that a free economy actually promotes charity, selflessness, and kindness, and why free-market capitalism is not only the best way to ensure individual success and national prosperity but is also the surest route to a moral and socially-just society.

Visit the official website at www.defendingthefreemarket.com

Jeff Sandefer, co-author (with Rev. Robert Sirico) of the newly published book, A Field Guide for the Hero’s Journey, has been nominated for Business Professor of the Year by The Economist‘s Economic Intelligence Unit.

Sandefer, a lifelong entrepreneur, now uses his business acumen in teaching both business students and children. One of his adult students shared this about him:

Jeff has this insatiable thirst to build principled entrepreneurs and business leaders that I have never seen in anyone before. His passion to serve the community as well as the classroom is both contagious and inspiring. . . . As a student and alumni, I had my fair share of bumps, scrapes and humbling moments in class, but nothing has prepared me more than Acton and what Jeff instilled in us. The very tools I used in Jeff’s class is [sic] what I am using on a day-to-day basis as a leader and partner in a quickly growing international company.

The award, which comes with a $100,000 prize, requires a professor to be nominated by students. The long list of top nominees is shortened by a judging panel, and the four short-listed professors will engage in a live “teach-off” in March 2013.

Sandefer’s book, published by the Acton Institute, is available for free Kindle download until December 23, 2013, 3 a.m. EST.

I rather like Serene Jones’ piece in Huffington Post, “Economists and Innkeepers.” Jones got some things right. She knows that Christian Scripture teaches many economic lessons, like subsidiarity and stewardship (although she doesn’t use those terms.) She says, “Economic theory is replete with theological and moral assumptions about human nature and society” and that is correct. As Istituto Acton’s Kishore Jayabalan reminds us,

Things like the rule of law, a tradition of equality for the law, which should cut down on corruption, which give people the confidence and security in the future to take some risks and to develop the goods that they have either personally or socially, and use them for the good of all.

We make economic, legal and moral decisions that affect others every day, in ways large and small. Jones is practically defining subsidiarity when she says, “I would argue that rather than being merely faceless economic units, we all have a moral responsibility for the care of each other.” (more…)

Acton President Rev. Robert A. Sirico appeared in a a video interview released yesterday by Catholic News Service, following a press conference in Rome last week held to introduce his new book “Defending the Free Market: The Moral Case for the Free Economy” to the local media.

CNS Rome bureau chief Frank Rocca interviewed Sirico regarding his own moral defense of market economics and asked his opinion of the libertarian novelist and intellectual Ayn Rand, whose philosophy of objectivism and rational-self interest gained widespread support from laissez faire capitalists in the United States and Europe.

Rev. Sirico expressed his opinion of Rand’s  “false gospel” of laissez faire capitalism in these words:

Ayn Rand is a very interesting character … She attempts to defend capitalism by the use of Aristotelian and, even at times, Thomistic categories. But I think that Rand has a counterfeit form of Christianity. Her success … to a very great extent, is [due to] the moral passion she brings to the question of economics.

(more…)

Rev. Robert Sirico, author of “Defending the Free Market: The Moral Case for a Free Economy,” appears at a Rome press conference for his book.

The Catholic News Agency recently interviewed Acton’s president Rev. Robert Sirico during a press conference held last week in Rome for Vatican journalists. The local media were introduced to his new book, “Defending the Free Market: the Moral Case for a Free Economy.”

In the CNA article “Fixing economic crisis requires financial and moral truth, priest says,” Rev. Sirico states:

 

I wrote the book because I was concerned that there’s such a false set of assumptions of what a market economy is and that it’s completely disconnected from the moral life…We need to stop presuming that the government is the provider and find creative and innovative ways which can serve people and which will build a virtuous cycle instead of a vicious cycle.

Regarding the imminent challenges for economic growth and human flourishing in welfare-dependent European countries, like Italy, Rev. Sirico said: “It’s going to be difficult for young Italians to reach adulthood with their dignity intact for quite a while, because they presume that the State will provide for them, cradle to grave.”

To read the rest of the CNA article, go here.

On Wednesday, Acton’s President Rev. Robert Sirico was interviewed by the Rome bureau of Catholic News Service regarding the work of the Acton Institute.

The Catholic News Service interview “Is Capitalism Catholic?” showcases the mission and influence which the Acton Institute has had on religious leaders’ socio-economic perspectives over its 22 years, including a clip from a meeting of U.S. Catholic bishops in which the Institute’s work on free market economics was both welcomed and criticized.

Rev. Sirico also explains some of his against-the-grain opinions on issues, such as his reasons for maintaining a system of private health care in the United States. He tells Catholic News Service, “For me the important thing is not whether you are radical or not, but whether you are right or not. I am just looking for the truth in my life.”

Watch the full interview here:

Also see, in print, “Is capitalism Catholic? A priest defends free-market economics” by Francis X. Rocca at CNS.

From a purely political standpoint last night’s Vice Presidential Debate was probably a victory for both candidates. Vice President Joe Biden fired up his base with his aggressive and somewhat dismissive behavior towards Congressman Paul Ryan. Ryan of course did nothing to hurt Romney and showed he is prepared to be president in an emergency.

Ultimately, the Vice Presidential Debate matters little to nothing in terms of outcome, and that’s why these two were probably in a better position to sit down together and have a candid and civil conversation about the economic and spending crisis this nation faces. It was not to be of course. And it’s probably too much to expect given the nature of the budgetary wars between the Republican Congress and the White House over the last two years. So much of the spending fight had already exhausted itself between these two behind the scenes in Washington.

Save for Ryan’s defense of a plan for cautious entitlement reform, much of the domestic argument came down to which team is better equipped to manage the bureaucracy. The federal government has now doubled in size from just over a decade ago. And it has funded that expansion all through borrowed money. We’ve spent $2 trillion on education at the federal level alone with no marked improvement, only educational decline. Greater urgency and details are needed from our leaders on how they are going to cut and limit federal spending. Everybody knows gutting subsidies to PBS won’t cut it.

Catholics can address the abortion question as it relates to Catholic Social Teaching and who is the serious thinker about their faith, but I also feel there was a real opportunity by both candidates last night to speak less politically about the debt and take moral leadership on an issue. Our spending problem is a visible sign of America’s holistic decline when it comes to our historic strong moral values, strong work ethic, and moral courage. Rev. Robert Sirico has said, “When one generation borrows what cannot be expected to be paid in the next generation, such a civilization is at a crossroads.” We need our leaders to embody those words or we need to replace them.

Rev. Robert Sirico’s book ‘Defending the Free Market’ has a review in today”s Washington Times. It notes the timely aspects of the book, given the upcoming presidential election:

As the presidential race centers on America’s economic woes, President Obama and many of his supporters depict capitalism as a system that allows greedy CEOs and Wall Street insiders to profit atthe expense of the common good. Increased government regulation is their proposed solution for checking corruption and standing up for the rights of the average American.

But do Americans really have to choose either exploitative capitalism or excessive government intrusion? In “Defending the Free Market: The Moral Case for a Free Economy,” the Rev. Robert Sirico argues that popular rhetoric presents a false dichotomy between “the free market and the nanny state.”

Read the entire review here.

French President François Hollande has promised a 75% tax rate on those in his country who earn an annual salary above one million euros ($1.24 million). Not surprisingly, this number has struck fear into the hearts and wallets of quite a few of France’s top earners, including some who are contemplating leaving and taking their jobs with them. The New York Times has the story:

Many companies are studying contingency plans to move high-paid executives outside of France, according to consultants, lawyers, accountants and real estate agents — who are highly protective of their clients and decline to identify them by name. They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them.

They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.

The potential tax increase threatens to handcuff “les Riches” and, ironically enough, undercut France’s prized notion of egalité, taking with it liberté and fraternité, the remainder of the country’s tripartite maxim. In Hollande’s France, these principles may not apply to the wealthy.

Of course, Hollande’s tax initiative is sure to have some beneficiaries. No, not the poor or the middle class. The real winners? Well, they live on the other side of the border. Also from the Times:

“It is a ridiculous proposal, but it’s great for us,” said Jean Dekerchove, the manager of Immobilièr Le Lion, a high-end real estate agency based in Brussels. Calls to his office have picked up in recent months, he said, as wealthy French citizens look to invest or simply move across the border amid worries about the latest tax.

“It’s a huge loss for France because people and businesses come to Belgium and bring their wealth with them,” Mr. Dekerchove said. “But we’re thrilled because they create jobs, they buy houses and spend money — and it’s our economy that profits.”

The entire story reminds me of a passage from Rev. Robert Sirico’s latest book, Defending the Free Market: The Moral Case for a Free Economy. In a chapter titled “The Idol of Equality,” Sirico addresses the unsustainable nature of simple redistribution. Instead, business development and job creation are essential–and lasting–tenets of economic growth. From the book:

When most people picture the 1 percent and their wealth, what comes to mind is designer clothing and jewelry, yachts and limousines, mansions and penthouses—all sorts of alluring and attention-grabbing luxuries. Luxuries so distracting, in fact, that we tend to lose sight of the fact that most of the wealth of the wealthiest is invested. It is put to work in the businesses they own and manage, and in stocks and other financial vehicles that provide the capital for countless other businesses. These are the businesses that provide the 99 percent with the goods, services, and employment that they regularly enjoy and often take for granted.

Whether it’s a big automotive plant or a small bakery on the corner, a microchip manufacturer or a family farm, all businesses that produce goods and employ people are owned by someone. It’s businesses that make up most of the wealth of the 1 percent. Confiscating that wealth and giving it to the other 99 percent would mean shifting much of that wealth from investment and production to consumption, since the poor and middle class consume a far higher percentage of their income than the wealthy do. This sudden shift from investment and production to consumption would demolish the infrastructure that makes jobs, goods, and services possible.

Hollande would be wise to read Defending the Free Market. Doing so might save his nation and preserve liberty, equality and brotherhood in the process.