Capitalism and Market Economy

The Alternate Universe of Anti-Capitalist Coronavirus Experts

The COVID-19 epidemic becomes a pretext for critics of capitalism to once again castigate “neoliberalism.” The survival of the free market economy and the renewal of small government is essential, especially now.

The Rich—A Personally Unknown and Hated Minority

The Germans and the French are more likely than the English or Americans to envy rich people for their wealth. Moreover, social envy nurtures a scapegoat mentality and anti-capitalist thinking. This is confirmed by a recent study.

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

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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.

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?

In Western nations with market economies the market is losing its political and social reputation. Individual morality, and the morality of small groups, differs from that of the morality of large systems. It is important to have good social rules that are applicable to all, which create proper incentives for responsible economic and political behavior.

Commodity Speculation: Does it Harm the Poor?

Pope Francis’ Encyclical “Laudato si’” and other Vatican documents have criticized speculation in food markets for being damaging to the interests of the poor. There is, however, no evidence for this. In fact, the opposite is likely to be the case.

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.

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