2012-11-29 14:51:14

Amidst the economic crisis, new book defends morality of free market

(Vatican Radio) European stocks rose early on Thursday, echoing gains overnight in the United States as law makers there offered hope that a deal would be struck to avert enormous automatic budget cutbacks at the end of the year. Global markets have been suffering since the economic crash in 2008, with some analysts citing the free market economy as a major contributing factor to the crisis.
Offering an alternative perspective to the reasons behind the current economic crisis, Fr Robert Sirico, co-founder of the Acton Institute for the Study of Religion and Liberty in Grand Rapids, Michigan, met with journalists on Wednesday to introduce his latest book entitled: Defending the Free Market: The Moral Case for the Free Market Economy. In it, Fr Sirico makes the case for a free market economy, outlining the difference between fundamental human rights and privileges.
Speaking with Vatican Radio’s Ann Schneible, Fr Sirico highlighted his objectives in writing this book. Defending the Free Market, he said, was written “with the intention of making accessible economic ideas that I thought were important in general terms; but, in particular, especially for religious people, to understand there is what we call a normative or moral dimension to economic activity.”
“It’s not just, live by the Ten Commandments and open a store,” Fr Sirico explained, but he wanted to demonstrate “that there’s something more internal to the whole dynamism of a market economy that makes sense both economically and morally.”
Listen to Ann Schneible’s full interview with Fr Robert Sirico: RealAudioMP3

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