The Moral Case for a Free Economy

Defending the Free Market: The Moral Case for a Free Economy, by Robert Sirico (Regnery Publishing, 2012), 213 pages.Defending-the-Free-Market3.jpg

Critics of the free market assert that it fails the underprivileged, leads to income inequality, exploits the poor, and is at times downright cruel. They charge its defenders with being motivated by greed, selfishness, and materialism, and making a god out of efficiency. The solution to the alleged deficiencies of the free market and the character of its supporters is always without exception government intervention in the marketplace. But when that fails to remedy the perceived wrongs of the free market, then even more intervention is prescribed to make things right. And as Richman’s Law states, “No matter how much the government controls the economic system, any problem will be blamed on whatever small zone of freedom that remains.”

The Rev. Robert Sirico, in his book Defending the Free Market: The Moral Case for a Free Economy, argues that a free economy — where property rights, contracts, and the rule of law are respected; prices and interest rates are freely agreed to by willing parties; entrepreneurship is encouraged; profit is not disdained; and charity is voluntary — is the most efficient and moral way to meet society’s material needs.

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