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.