Is There a Moral Case for Capitalism?

Socialism has been discredited. The totalitarian states of the twentieth century have collapsed. And we beneficiaries of the globalized world economy are grateful that we enjoy plentiful food, clothing, shelter—and cheap electronics. But can any moral person really be for capitalism? Consumerism is an appalling spectacle, with Americans glutting themselves on all kinds of excess, while people in the developing world starve. The rich seem to be hogging far more than their share of the world’s resources. Free markets may be efficient, but are they fair? Aren’t there some things—life-saving health care, for example—that we can’t afford to leave to the vicissitudes of the market? Now, in Defending the Free Market: The Moral Case for a Free Economy, Father Robert Sirico—a Catholic priest, former leftist associate of Jane Fonda, and now a longtime champion of the free market—answers all these objections.