Adam Smith, the father of the discipline we now refer to as economics, was a moral and political philosopher of the Scottish Enlightenment and contemporary and acquaintance of Edmund Burke. Long heralded as a proponent of self-regulating markets, limited government, and free-market “capitalism,” Smith is often invoked by proponents of corporate capitalism as an archetype [...]
A sociologist born at the turn of the twentieth century, Henri Lefebvre is a figure whose writings shed light on questions pertaining to rural life versus urban life, theories of the state, modernity, and the role of social space and markets in cities. Beyond sociology, he is considered an important figure in both urban studies [...]
Well, no cannonballs did fly, no rifles cut us down No bombs fell from the sky, no blood soaked the ground No powder flash blinded the eye, no deathly thunder sounded But just as sure as the hand of God, they brought death to my hometown They destroyed our families, factories, and they took our [...]
The rise of a post-industrial, technologically advanced society affected social and economic structures worldwide. James Burnham and Daniel Bell foresaw how drastically society would change over the following decades, as well as the consequences of these tendencies toward globalism and liberalism. We like to say that every idea, every thought, every emotion—no matter how novel—has [...]
Could democratic government solve, or even effectively address, the problems of a modern society? For decades, this question vexed Progressive reformers as they navigated the transformation of the United States from a country of small farms and rural communities to a nation of factories, corporations, and cities. Before the Civil War, Americans never doubted that [...]
Speaking personally, I’d rather discuss many things during this joyful season of Advent than “capitalism.” And yet Matthew Summers’ recent essay “In Defense of Capitalism” for The Imaginative Conservative has prompted me to comment on the topic, albeit briefly. […]
The term capitalism has long been used by critics as a catch-all to denote a system replete with greed, indulgence, excess, and deprivation. It is easy to misinterpret self-interest as selfishness and write off capitalism and economics. But the truth of the matter is much more complicated… I find myself still scratching my head over George Stanciu’s [...]
We study history to learn from it. If we can discover what worked and what didn’t work, we can use this knowledge wisely to create a better future. But when propaganda is the goal, accuracy is the victim. Cornelius Vanderbilt Capitalism Worked, But We Were Told It Didn’t We study history to learn [...]
Romanticizing and moralistic contempt of the economy, including contempt of the impulses which move the market economy and the institutions which support it, must be as far from our minds as economism, materialism, and utilitarianism... Editor's Note: The following excerpt comes from Wilhelm Röpke's excellent book, A Humane Economy: The Social Framework of the Free Market, first published [...]
The whole notion of a global problem requiring a global solution is rooted in a false logic. Effectively it is saying that because bigness causes problems we need even more bigness to solve them. Distributism as a derivative of the principle of subsidiarity offers the only real alternative to the cult of bigness in the [...]
A critique of American materialism is extraordinarily challenging, as it is cloaked in a heresy that is subtle, smooth, and sweet. The problem is that the Pope is not really up to such a challenging challenge… Pope Francis and the Caring Society edited by Robert M. Whaples (256 pages, Independent Institute, 2017) It is perhaps [...]
Wilhelm Röpke infused his detailed analyses of modernity with a sensitive respect for the values of tradition and religious faith and their critical importance in building social and economic order. Born in 1899 in Schwarmstedt, Germany, Wilhelm Röpke would become one of the most distinguished economists of his age. Acknowledged as a worthy peer by [...]
In the modern world of American politics, special-interest money is displacing voters. Wealth is highly concentrated in a few hands, with corporations wielding enormous power. More and more families patch together two or more paychecks to meet the widening income, healthcare, and pension gaps that are threatening the middle class… After a disastrous defeat in [...]
Destruction is always a net negative. Whether it’s a hurricane, tornado or earthquake or even a war, there is no silver lining in destroying capital. As Hurricane Harvey, now tropical storm Harvey, makes its way across the southern U.S., estimates have already come in as to the cost of the storm. According to AccuWeather, Harvey is expected [...]