Capitalism

When the Market Meets Morality

8/3/19
from The Wall Street Journal,
8/2/19:

Rev. Robert A. Sirico has spent decades defending capitalism from the left. Today the attacks come from the right too.

Like Acton in his day, Father Sirico and his merry band argue that political liberty and economic liberty are the guarantors of religious liberty. Markets are by definition social, Father Sirico says, and to succeed in the market requires being attuned to your customers’ needs. As Adam Smith observed, “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.” It’s not exactly “Love thy neighbor,” but it does have the effect of helping others. Further, “people need jobs,” Father Sirico notes. “Jobs come from businesses. And businesses need the economic freedom and opportunity if they are to create them.”

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