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Socialism has been discredited. The totalitarian states of the twentieth century have collapsed. And we beneficiaries of the globalized world economy are grateful that we enjoy plentiful food, clothing, shelterand cheap electronics.
But can any moral person really be for capitalism?
Consumerism is an appalling spectacle, with Americans glutting themselves on all kinds of excess, while people in the developing world starve. The rich seem to be hogging far more than their share of the world’s resources. Free markets may be efficient, but are they fair? Aren’t there some thingslife-saving health care, for examplethat we can’t afford to leave to the vicissitudes of the market?
Now, in Defending the Free Market: The Moral Case for a Free Economy, Father Robert Siricoa Catholic priest, former leftist associate of Jane Fonda, and now a longtime champion of the free marketanswers all these objections. Father Sirico shows how a free economynecessarily including private property, legally enforceable contracts, and prices and interest rates freely agreed to by willing parties to transactions (not set by government bureaucrats)is the best way to meet society’s material needs, from basic nutrition to sophisticated health care technology. Well-intentioned activists who seek to enlarge the state’s economic role are only killing the goose that laid the golden egg. The fact is, private enterprise in the free market has lifted millions out of dire povertyfar more people than state welfare or private charity have ever rescued from want.
But a free economy isn’t just by far the most efficient way of producing the largest amount of goods and services for the world’s population. Economic freedom is also an indispensable support to the other freedoms we prizesuch as freedom of speech and freedom of religion. The right to economic freedom doesn’t make things more important than peoplejust the reverse. It’s only if we have economic rights that we can effectively protect ourselves from government encroachment into the most private areas of our livesright down to our consciences.
As governments across the globe continue to act with unprecedented irresponsibilityburdening the creators of wealth with ever more regulation and borrowing colossal sums of money just as populations are set to decline precipitatelyour prosperity, our economic freedom, and our most basic rights are threatened. The comfortable lifestyles and plentiful goods we take for granted are at risk. But so is the liberty whose source is found in our inherent dignity as human beings, endowed by our Creator with unalienable rights. Father Sirico sounds a timely warningand reveals the principles that must be the basis for the recovery of our freedoms.
As someone who spent more than fifty years in the corporate and business world, I challenge Father Sirico's view of the economic and work day. Read morePublished 1 month ago by Raymond W Tapajna
Father Sirico explains very persuasively how the free market does the best job of creating prosperity. He opens some questions that I find quite challenging. Ex. Read morePublished 2 months ago by Thomas W. Watson
Excellent book. Simple to understand - must read for all econ students and anyone who want to get a general idea of how economics works. Read morePublished 3 months ago by mary salmond
Easily readable justification of the morality of working within the free market and also critiques the immorality of socialism.Published 4 months ago by Bruno Schettini
here are the answers to the age old liberal canard of "Jesus was a Socialist".Published 11 months ago by steven John Williams
A wonderfukl explanation of the effect of the Free Market on our lives, from a Christian viewpoint.Published 12 months ago by Richard F Johnson
A valuable counterpoint to the socialist ethic erroneously advocated by some religious.Published 14 months ago by Overeducated.
All in all, what intrigued me about this book was that it was written by a Catholic priest. The title seemed to contradict the views of the recently installed pope, so I was... Read morePublished 17 months ago by Glenn Corey