“Daring though the argument is, especially for a Catholic priest, it is also essential that it be made since for too many people (including business people), free market economic theory and policies are little more than a justification for greed. While not denying the excesses of capitalism and real sins of capitalists, Fr Sirico wisely doesn’t allow sin to have the last word. Rather, and like St Augustine who inspired his own spiritual journey, the helps us see the goodness hidden beneath the distorting effects of moral failure.
Though irenic in tone, Sirico is unwilling to cede ground to those who imagine—wrongly in his view—that “socialism, liberalism, collectivism, and central planning” (p. 185) are morally superior and more effective in generating wealth. They aren’t and however noble the intention they are come up morally and practically short because they neither anthropological sound nor effective in caring for the material needs of the human person. The latter is especially the case when we turn to the needs of the most vulnerable among us. It is the free market that best fits the truth of the human person. And it is only the free market that has demonstrated the ability not only to lift the human person out of the poverty that was the almost universal lot of humanity even as late as 200 years ago.”
Read “More than Mere Economics” here.