Capitalism and Market Economy

American Economist, Peter Boettke: Socialism or Liberalism? Economics Has the Answer

In his lecture in Vienna, U.S. economics professor Peter J. Boettke emphasized that the world is at a crossroads. Only capitalism is a viable path for humankind to flourish.

Peter J. Boettke: Capitalism, Socialism and Our Future

The video of the event on May 8 at the “Haus der Industrie” (Vienna) with Peter J. Boettke, who spoke on the topic “Capitalism, Socialism and our Future”. It was followed by a conversation with Prof. Dr. Hansjörg Klausinger from the WU-Vienna.

A Society Living on Credit Creates Inflation and Financial Crises

A new financial crisis is on the horizon. The culprit is not a lack of regulation, but our monetary system that is based on credit, and a society that lives at the expense of the future.

Globalization Before and After the Covid-Pandemic: Should There Be a New Normality?

It is not globalization, nor the market economy, nor capitalism that is a danger and should be reformed; it is the policies that might provide the wrong, anti-market response to the pandemic that are the real danger precisely to the growth of prosperity in the world’s poorest countries.

Green Climate Policy: Moralism, Ideology and Dirigisme

The Greens are painting a picture of environmental and climate apocalypse. In this way, they try to moralize the debate and present themselves as the advocates of the good. On closer inspection, their program turns out to be ideological wishful thinking that eschews capitalism and the market economy.

During a Pandemic, It Is Not Protectionism that Protects, but Globalization

If you rely on domestic instead of Asian manufacturers, you replace one dependency with a new one. Dependency is reduced through diversification, which is precisely what the much-maligned globalization makes possible.

Has Liberalism Failed? Patrick Deneen’s Populist Anti-Liberalism: A Catholic Classical Liberal’s Response

In his book “Why Liberalism Failed” Patrick Deneen deals with all varieties of Liberalism. They are the fruit of a false image of man – an assertion which, however, proves to be questionable on closer inspection.

F.A. Hayek on the Discovery, Use, and Transmission of Knowledge

This September marked the 75th anniversary of F.A. Hayek’s pivotal essay “The Use of Knowledge in Society.” It is not only a noteworthy advance in Hayek’s critique of central planning. Hayek’s insights about competition as a ‘discovery procedure’ also provides conceptual tools for other forms of institutional analysis.

Has Liberalism Failed? A Response to Patrick Deneen (Short Version)

Has liberalism become a victim of its own success? A short version of the review and critique of Patrick Deneen’s book “Why Liberalism Failed.”

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.

The Ethics of the Market Economy: A Critical Appraisal of Ludwig von Mises’ Utilitarian Interpretation (Academic paper)

Mises’ interpretation of market capitalism is flawed. In truth, Mises is best interpreted in a non-utilitarian way.

The True Meaning of ‘Social Justice’: A Catholic View of Hayek (Academic paper)

Hayek’s dismissal of the concept of “social justice” is well-known. While we can basically agree with Hayek’s critique, we should not entirely reject this concept. There exists a true meaning of social justice.