Edmund Burke allowed his fear of the French Revolution to cloud his judgment of a fitting response to the needs of agricultural workers. He was blind to the dangers of monopoly and concentration of economic power, to the possible ways of intervening that conform to the character of a market economy. “The mistakes which [...]
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 [...]
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 [...]
Wilhelm Röpke grew mesmerized by population growth projections which counted 300 billion inhabitants on the Earth by the year 2300. In such an anthill existence, he asked, what would happen to those “unbought graces of life”: “nature, privacy, beauty, dignity, birds and woods and fields and flowers, repose and true leisure”… Today’s offering in [...]
Today’s offering in our Timeless Essay series affords readers the opportunity to join Jeffrey O. Nelson as he explores the books and thinkers who shaped America’s Conservative Renaissance. —W. Winston Elliott III, Publisher If a conservative order is indeed to return, we ought to know the tradition which is attached to it, so that we [...]
That boredom, sexual perversion, consumerism, and the general malaise of the West are to a great extent the fruits of past economic growth is long recorded… “Conquest or superiority among other powers is not, or ought not ever to be, the object of republican systems.” —Charles Pinckney of South Carolina The Rise of Neo-Mercantilism. [...]
James R. Otteson, the Thomas W. Smith Presidential Chair in Business Ethics at Wake Forest University, possesses one of the greatest minds in defense of classical liberalism in the modern era. He has authored two definitive works on Adam Smith, a clear rebuttal of the ethics of Peter Singer, and now a crucial attack [...]
June 20th, 1998, marked the fiftieth anniversary of the German “economic miracle.” Of course, there was nothing miraculous about it. Germany’s success was not due to the hard-working character of her people, or to foreign aid, or to any other special reason. It was the natural outcome of a market economy and currency reform. And [...]
The effect of actions based on self-interest turned loose from any anchor in morality is not an adequate basis of economic or social organization. The sphere of legitimate market activity must be limited so that it harmonizes with the rest of the community and with other values. Today’s offering in our Timeless Essay series [...]
Let us be clear on one point: the usual defenders of the free market—the Friedmans, Hayeks and Mises—are not primarily concerned with private property or liberty. They are firstly concerned with economic growth which mainly means continuous economic, technical and social change. For example, when airplanes became popular, air travel would have been very [...]
The Moral Foundations of Civil Society by Wilhelm Roepke, with a new introduction by William F. Campbell. The Social Crisis of Our Time by Wilhelm Roepke, with a foreword by Russell Kirk and an introduction by William F. Campbell. Without a vision the people perish. So says the writer of Proverbs. In both The [...]
The concept of “substitution” is a familiar one in economics. Many products are used as substitutes for others such as margarine for butter and tea for coffee. If the price of one becomes too high the other product may be used even though it isn’t perfect. Economic substitution provides people with alternative options which [...]
Some writers link the names of Ludwig von Mises and Wilhelm Roepke as if there were no important differences between them. Roepke is co-opted into the camp of more or less libertarian thinkers whose position is further enhanced by whatever weight or prestige his name may give. Since Roepke was an Austrian economist and [...]
Wilhelm Roepke The brass mouth trumpeting the virtues of the General Agreement on Tariffs and Trade (GATT) is Ben Wattenburg. His views display the kind of thick-headedness that Wilhelm Roepke fought against so valiantly. What’s this impenetrable cloud made of that compels him and his kind to stumble along like the proverbial [...]