The Virtues of Capitalism: A Moral Case for Free Markets

In the aftermath of the recent economic downturn, some observers leveled harsh criticism against free-market economies. In the spring of 2009, for instance, an article in the The London Telegraph insisted that the industrialized West must re-articulate its moral case for market capitalism. Additionally, numerous commentators proclaimed the days of unfettered markets to be over. In this timely and balanced book, Austin Hill and Scott Rae agree with capitalism's critics that the economy is essentially a moral issue, but they argue that free markets are by-and-large the solution to financial disasters rather than the cause. Though they recognize that there are legitimate criticisms of the market system--and real limits to what it can and should accomplish--the authors further conclude that capitalism both depends upon and sustains classic Judeo-Christian virtues better than any of its rival systems. Thoughtful and engaging, this book pushes against the tide of current public opinion and some of the administration's proposed economic policies with a principled defense of capitalism. Review Hill and Rae shrewdly reveal the positive effects of religious and political traditions on economic performance.  Even in the midst of the Great Recession, the authors show that capitalism in the United States is shaped by biblical values, and leaves man economically more and morally better than  a mere "naked individual who was the sum of his individual appetites." Like Adam Smith before them, Hill and Rae rightly return  moral sentiment to what makes for  the wealth of nations. This vital message  couldn't come at a more propitious moment -- as a needed guide to Americans as we begin to work our way back to a morally founded prosperity.-Tony Blankley, columnist, The Washington TimesFreedom flourishes when individuals can succeed and see their entrepreneurial dreams turn into reality. Capitalism deserves the credit. The Virtues of Capitalism?s examination of the importance of this foundation of the free market is a unique approach. The authors make a biblical and moral correlation, while explaining and discrediting recent attacks against a free society. Fans and skeptics alike will find a compelling read.-U.S. Congressman John Shadegg, ArizonaNow, more than ever, the ?moral case for free markets? needs to be heard loudly and clearly. Not only do our broader liberties hinge on economic freedom, but our non-negotiable duty to help the poor depends on a robust market economy understood within a moral framework. With The Virtues of Capitalism, Austin Hill and Scott Rae have made a compelling and compassionate case.-The Rev. Robert A. Sirico, president and co-founder of The Acton Institute for the Study of Religion & Liberty, and author of The Entrepreneurial VocationCapitalism has taken a beating in the popular press over the past few years, and that?s a shame. Done right, capitalism captures the spirit of America by rewarding the diligent for their hard work and challenging the lazy to work harder. The Virtues of Capitalism takes an honest look at the system, celebrating its strengths and spotlighting its weaknesses. This should be required reading in every college in the country!-Dave Ramsey, host of ?The Dave Ramsey Show? and bestselling author of The Total Money Makeover   Everyone knows that free markets are more efficient than command-and-control economies where the government runs everything. But Austin Hill and Scott Rae make the important and persuasive case that capitalism is also more fair, more decent, more moral than any system that hands control to bureaucrats and politicians. They have made a valuable contribution to the most significant contemporary debates.-Michael Medved, nationally syndicated talk show host and author of The 5 Big Lies About American BusinessNow that our Great Recession has given new hope to those who would toss out the engine of economic progress, The Virtues of Capi