Defending the Free Market: The Moral Case for a Free Economy [Hardcover]

Robert A. Sirico (Author)

Book Description

Publication Date: May 22, 2012

The Left has seized on our economic troubles as an excuse to “blame the rich guy” and paint a picture of capitalism and the free market as selfish, greedy, and cruel. Democrats in Congress and “Occupy” protesters across the country assert that the free market is not only unforgiving, it’s morally corrupt. According to President Obama and his allies, only by allowing the government to heavily control and regulate business and by redistributing the wealth can we ensure fairness and compassion.

Exactly the opposite is true, says Father Robert A. Sirico in his thought–provoking new book, 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 in Defending the Free Market, he shows 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. In Defending the Free Market, Father Sirico shows:

• Why we can’t have freedom without a free economy
  
• Why the best way to help the poor is to a start a business
  
• Why charity works—but welfare doesn't
  
• How Father Sirico himself converted from being a leftist colleague of Jane Fonda and Tom Hayden to recognizing the merits of a free economy.
  

In this heated presidential election year, the Left will argue that capitalism may produce winners, but it is cruel and unfair. Yet as Sirico proves in Defending the Free Market, capitalism does not simply provide opportunity for material success, but it ensures a more ethical and moral society as well.

Editorial Reviews

Review

''Defending the Free Market addresses the morality of entrepreneurship from the point of view of a sophisticated economist who is also an inspiring theologian, leading us on a journey to the free and virtuous society, animated by human creativity in the image of the Creator.'' --George Gilder, New York Times bestselling author of Wealth and Poverty

''I've been doing financial counseling and education for over two decades, and one thing that has always stood out to me is how much money is connected to every part of our lives, from relationships to politics to ministry. Money is never just about money; it's always just part of the issue. That's why I appreciate Father Robert Sirico's ministry. Sure, he talks about money, but he also shows how all of these different aspects of our lives interact with and impact each other.'' --Dave Ramsey, New York Times bestselling author and nationally syndicated radio show host

''I've been eagerly anticipating such a book from Father Sirico for a long time. The man has delivered magnificently. Defending the Free Market does more than the title suggests. It celebrates the miracle of freedom and points a lost generation back to the free and virtuous society.'' --Lawrence Kudlow, anchor of CNBC's The Kudlow Report

''Father Robert Sirico is a voice who must be heard. Defending the Free Market provides a solidly Christian perspective on capitalism and free markets--and makes the compelling case that we cannot possibly understand economics and how markets function without understanding the true nature of man.'' --Chuck Colson, founder of Prison Fellowship(R) and the Colson Center for Christian Worldview

''Every American concerned about our economy and the erosion of individual liberty should read Father Sirico's insightful and well-reasoned book. As he makes crystal clear, our prosperity will continue to be provided not by government but through the proven power of the economic and personal freedoms we enjoy within American free enterprise.'' --Rich DeVos, cofounder of Amway and chairman of the Orlando Magic --This text refers to the Audio CD edition.

From the Inside Flap

Is There a Moral Case for Capitalism?

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, shelter—and 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 things—life-saving health care, for example—that 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 Sirico—a Catholic priest, former leftist associate of Jane Fonda, and now a longtime champion of the free market—answers all these objections. Father Sirico shows how a free economy—necessarily 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 poverty—far 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 prize—such as freedom of speech and freedom of religion. The right to economic freedom doesn’t make things more important than people—just 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 lives—right down to our consciences.

As governments across the globe continue to act with unprecedented irresponsibility—burdening the creators of wealth with ever more regulation and borrowing colossal sums of money just as populations are set to decline precipitately—our 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 warning—and reveals the principles that must be the basis for the recovery of our freedoms.

See all Editorial Reviews

Product Details

• Hardcover: 256 pages
• Publisher: Regnery Publishing (May 22, 2012)
• Language: English
• ISBN-10: 1596983256
• ISBN-13: 978-1596983250
• Product Dimensions: 6 x 0.9 x 9.1 inches
• Shipping Weight: 10.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (56 customer reviews)
• Amazon Best Sellers Rank: #204,291 in Books (See Top 100 in Books)

More About the Author

Rev. Robert A. Sirico received his Master of Divinity degree from the Catholic University of America, following undergraduate study at the University of Southern California and the University of London. During his studies and early ministry, he experienced a growing concern over the lack of training religious studies students receive in fundamental economic principles, leaving them poorly equipped to understand and address today's social problems. As a result of these concerns, Fr. Sirico co-founded the Acton Institute with Kris Alan Mauren in 1990.

In April of 1999, Fr. Sirico was awarded an honorary doctorate in Christian Ethics from the Franciscan University of Steubenville, and in May of 2001, Universidad Francisco Marroquin awarded him an honorary doctorate in Social Sciences. He is a member of the prestigious Mont Pèlerin Society, the American Academy of Religion, and the Philadelphia Society, and is on the Board of Advisors of the Civic Institute in Prague. Father Sirico also served on the Michigan Civil Rights Commission from 1994 to 1998. He is also currently serving on the pastoral staff of Sacred Heart of Jesus parish in Grand Rapids, Michigan.

Fr. Sirico's pastoral ministry has included a chaplaincy to AIDS patients at the National Institutes of Health and the recent founding of a new community, St. Philip Neri House in Grand Rapids, Michigan.

Books he has written:

* Catholicism's Developing Social Teaching (Acton Institute, 1993)
* Moral Basis for Liberty (Foundation for Economic Education, 1996)
* Il personalismo economico e la società libera (Italian language edition)
* Capitalism, Morality and Markets (Institute of Economic Affairs, 2001)
* The Entrepreneurial Vocation (Acton Institute, 2001)
* The Soul of Liberty (Acton Institute, 2002)
* Defending the Free Market (Regnery, 2012)

Books he has co-authored:

*Skepticism, Faith, and Freedom (Acton Institute, 2007)
*A Field Guide for the Hero's Journey (Acton Institute, 2012)


Books he has edited:

* The Social Agenda: A Collection of Magisterial Texts (Pontifical Council for Justice and Peace, 2000)

Find out more:
Official Blog: http://www.robertsirico.com
Acton Institute profile: http://www.acton.org/about/staff/rev-robert-sirico
Facebook: http://www.facebook.com/robertsirico
Twitter: http://www.twitter.com/robertsirico
PovertyCure voice: http://www.povertycure.org/voices/rev-robert-a-sirico/

Most Helpful Customer Reviews

59 of 63 people found the following review helpful

5.0 out of 5 stars A Much Needed Voice May 19, 2012

By Matt Zainea

Format:Hardcover

Fr. Robert Sirico has put to paper a winsome, warm, deeply cogent, and powerfully theological analysis of free markets and their power to enliven the human spirit.

The warmth of his book is seen in the telling of his own journey through the ideas of economics, compassion, and human flourishing. His personal stories are brief but reveal an understanding of how many people, including himself in early adulthood, wander into broken social ideals with altruistic intentions. By handling this personally he side steps mudslinging, over generalizations, and demeaning caricatures and instead offers an invitation to his opponents to think deeper about their causes and commitments. It is a book any Christ follower who is serious about living out a biblical worldview should read. It is also an excellent book to buy if you or a friend of yours disagrees with free markets but are open to respectful dialogue about the subject. A sceptic of free markets can read this without feeling attacked or demeaned.

The demeanor that Fr. Sirico adopts throughout the book is definitely a strength of his writing, however, the true power of the book is his ability to root his argument in foundational ideas. He anchors his argument for the primacy of free markets not in end results such as wealth creation, jobs, and human flourishing, though he will get to these. Instead he rightly roots his argument in the intrinsic dignity of the human person. Anthropology is at the root of most of our political and social disagreements. If biblical anthropology is correct then the uniqueness and the dignity of the individual will thrive when free to move virtuously in the marketplace with their labor, savings and expenditures. It is here that the argument for free markets is connected with first principles and can be clearly seen as a moral cause and not just an economic preference. This is the case Fr. Sirico is making. He is not naive to abuses of the market but he is wise to solutions that make the helper feel good but leave their intended beneficiary in worse shape than before "aid" came to them.

Fr. Sirico does a masterful job articulating a biblical worldview of humanity, creativity, work, markets, and community. The biblical foundation is sound and should bolster much thinking and teaching of his readers. He then takes his theological realities and applies them to current social controversies such as health care, environmentalism and welfare. Again he winsomely exposes many compassionate solutions as being ultimately destructive. They are destructive because they do not understand, and I would argue often do not try to understand, the true nature of the human being. If we want to truly help we must look to what restores human dignity rather than what makes the giver feel noble.

I appreciate the scope of Fr. Sirico's project. He covers large concepts in a concise manner with understandable arguments. For those wanting deeper discussions of any of the chapters he includes a short list of related reading recommendations that likewise make compelling but more detailed arguments of the topics at hand.

As an evangelical pastor I found much to love about this book and would recommend it to all my peers. Too often economics gets broad-brushed comments from pastors who want to chime in on the subject but have given little time to developing a biblical understanding of the field. I have heard and read too many evangelical leaders who are far smarter than me and who have a great deal of influence, utter comments about markets and social justice that are founded more on simple trendy thought rather than sound biblical exegesis. Hopefully Fr. Sirico's book will ensure that will happen less and less.

61 of 66 people found the following review helpful

5.0 out of 5 stars A Masterful Work May 20, 2012

By Sandra A. Eggers

Format:Hardcover

Q: What do you get when you combine The City of God by St. Augustine, Economics in One Lesson: 50th Anniversary Edition by Henry Hazlitt and a neighborly chat across the fence?
A: Defending the Free Market by Father Robert Sirico

Through the erudite yet warm and understandable prose of Fr. Sirico's masterful work, Defending the Free Market, the reader is led to a better understanding of both the theoretical underpinnings and practical, contemporary application of economics and the free market. All of this is enveloped with the highest truths of God's vibrant and ongoing creative work and man's right relationship with his Creator. For anyone who desires a free and virtuous society, an end to poverty, and the expansion of human flourishing, Defending the Free Market is a must read. As a Christ-follower, entrepreneur, and free market patriot, I highly recommend this work. --Sandra(Sandie) Eggers, author, speaker, and Christian life coach.

32 of 34 people found the following review helpful

5.0 out of 5 stars Defending the Free Market May 23, 2012

By ar

Format:Hardcover|Amazon Verified Purchase

In Defending the Free Market" author Father Robert Sirico brings a fresh and unique perspective for the essential ingredients needed in building a prosperous economy. As an economist and theologian he presents a convincing case for the critically important interrelationship between free enterprise, entrepreneurial creativity and virtuous and moral business leadership. Together these attributes will ensure a society where human freedoms, liberties and dignity prevail.