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Capitalism is Good for the Poor – and for the Environment

The wealth-creating dynamic of capitalism remains widely misunderstood. Few know that it is also the solution to our environmental problems. The imbalance of capitalism today, on the other hand, is caused by politics.

The Entrepreneur’s Responsibility Is to Succeed as an Entrepreneur

From a “man of the church” one usually expects (besides friendly praise for the work of the entrepreneur) the admonition that entrepreneurs should not merely strive for profit, but always

Bank Regulation—More Harm than Good

For years there has been growth in the regulation of the financial market, especially of banks. The high regulatory burden is ill-suited for the complex nature of reality. In the end, it is the taxpayer who pays the bill.

Philipp Bagus: “The Fear of Deflation Is Unfounded”

Many economists, policymakers, and central banks are afraid of deflation. Generally speaking, they do not even distinguish between different causes of price deflation—i.e. between price deflation caused by growth and price deflation caused by contractions in credit. In this interview, the economist Phillipp Bagus says that these fears of deflation are misguided.

How Much State Does a Just Society Need?

The title question I was asked, “How much state does a just society need?” assumes that a just society requires a superior power—the state. The question is about “how much

The environment, free markets and Catholic social teaching

Philip Booth (St. Mary’s University) at the Austrian Academy points out that the more natural resources are in private hands, the more environmentally friendly they are used.

Inequality is Shrinking: Branko Milanović Disagrees with Oxfam

Every year the Oxfam report makes sensational headlines. The tenor: global inequality is increasing. 26 billionaires would own as much as the 3.8 billion poorest people in the world. Leading inequality specialist Branko Milanović unmasks Oxfam’s alarmism as misleading.

Market Capitalism and Christian Social Ethics: A Contradiction?

Capitalism and free markets are widely considered to be incompatible with Christian social ethics. At a closer look, however, market capitalism turns out to be the economic order most consistent with the basic principles of Christian ethics.

Heed Not the Climate Populists

In the climate issue, science and politics are constantly being mixed up. This is dangerous and undermines the credibility of research results. A Nobel Prize for Greta Thunberg would be ridiculous.

The Labor of Capital: How Wealth is Created

The Catholic Church’s mistrust of free entrepreneurship is an old phenomenon. At its origin is the idea of antagonism between “Labor and Capital”, rooted in the influence of Marxist doctrine. It is time to leave this misleading dichotomy behind.

The Market and Morality: Is the Market Moral?

Individual morality (and that of small groups) differs from the morality of large systems. It is important to have good social rules that are applicable to all, and which create the right incentives for responsible economic and political behavior.

Catholic Social Teaching: Out of Touch with Economic Thought

Human history is deeply marked by mass poverty. This was only overcome by the capitalistic industrial revolution. Catholic ethicists and theologians would be wise to learn about the economic factors that have lifted people out of poverty and continue to increase the general standard of living.