Acton Institute Powerblog Archives

Post Tagged 'market economy and ethics'

March 09, 2011

Does your 401K make you an idolator?

Here’s today’s offering from Jim Wallis’ Rediscovering Values for Lent on the Sojourners website: Today, instead of statues, we have hedge funds, mortgage-backed securities, 401(k)s, and mutual funds. We place blind faith in the hope that the stock indexes will just keep rising and real estate prices keep climbing. Continue Reading...
April 05, 2010

Roepke: Beyond Technique

First Principles, the excellent Web-based resource from the Intercollegiate Studies Institute, has posted another “classic” from its extensive archive of journal articles, this one by Wilhelm Roepke. I’m snipping a kernel from “The Economic Necessity of Freedom” (Modern Age, Summer 1959) because it so succinctly and powerfully sums up why a moral framework — and our “highest values” — are necessary for a market economy that is not only efficient, but humane. Continue Reading...
November 16, 2009

Economic Liberalism and its Discontents

How do we restore confidence in free markets? Formulate a robust explanation of their moral value. Read Economic Liberalism and its Discontents on Public Discourse. In his recent book The Creation and Destruction of Value, Princeton University’s Harold James observes that the 2008 financial crisis resulted in more than the devastation of economic value. Continue Reading...
November 05, 2009

The Market, School of Virtue

This week’s Acton Commentary: Does the market inspire people to greater practical virtue, or does it eviscerate what little virtue any of us have? Far from draining moral goodness out of us—as many think—the free market serves as a “school of the practical virtues.” Continue Reading...
July 06, 2009

NRO: The Divine Economy

My commentary on the forthcoming social encyclical was published on National Review Online. Here’s the complete text: On Tuesday, Pope Benedict XVI will release his first social encyclical, Caritas in Veritate. Continue Reading...
November 26, 2008

IBD: Papal Bullishness

Following up on our coverage of Pope Benedict’s economic “prophecy,” here’s a snip from yesterday’s “Papal Bullishness” editorial in Investor’s Business Daily. Read then-Cardinal Ratzinger’s 1985 article “Market Economy and Ethics” here. Continue Reading...