Capitalism, Free Market Economy, and the Common Good:

1996 ◽  
Vol 3 (1) ◽  
pp. 3-7
Author(s):  
Mary Cooke

The free market theory has as its basis the assumption of equity. This equity is ascribed to both purchasers and providers in a perfectly balanced system so that there are seen to be no 'winners' or 'losers' in the market-place. The health system that is developing in the UK is structured as a managed market, but agency relationships between GPs and health authorities buffer the costing process of goods and therefore may be described as distorting the price. This could also be distorting the ability of the users, who are the real purchasers, from exercising their economic freedom. They may also lose the autonomy to choose goods that suit their particular needs, and equally not to choose those services that they do not want or wish to pay for vicariously (i.e. that the common good is respected by both providers and purchasers). This assumes that users of the service know the level of choice that they have and that not only are providers protected at present by the practices of the purchasers but also entry into the market for new providers is severely curtailed. The exercise of true freedom of the market in economic terms is one of moral obliga tion to provide services that not only have a market value that is affordable and a require ment of the 'common good' but also are historically acceptable for social requirements (i.e. that the services are valued as fundamental tenets of the rights of individuals in soci ety). The expression of this need will therefore be utilitarian (i.e. the users of the services should benefit from them rather than the providers).


2003 ◽  
Vol 13 (1) ◽  
pp. 59-77
Author(s):  
Kishor Thanawala ◽  

2016 ◽  
Vol 98 (1) ◽  
pp. 91-109
Author(s):  
Scott Bader-Saye

Wealth inequality is increasingly recognized as a culprit for stagnant economic demand, political marginalization, civic division, and a lack of social well-being. Solutions, however, have been hard to come by, because the current economic order maintains a veneer of inevitability. The modern social imaginary legitimizes the free market and justifies its inequitable consequences as an unavoidable but temporary byproduct of economic development. This essay seeks to provide a theological response in four parts: first, a challenge to the fairy tale of the self-regulating economy; second, a critique of the anthropological assumptions beneath current economic practice; third, an examination of the nature of ownership and the sin of excess; and fourth, an analysis of value and the good. It concludes with a proposal for alternative policies and practices to strengthen the church's witness and nurture the common good.


Author(s):  
David C. Rose

A society’s culture can lock in beliefs and practices that inevitably produce persistent poverty and tyranny. But a society’s culture can also provide a foundation for maximizing general prosperity and freedom to produce mass flourishing. This book explains why culture—not genes, geography, institutions, or policies—is therefore what ultimately explains the differential success of societies. In short, when certain kinds of moral beliefs are culturally transmitted, a society can overcome the most fundamental obstacle to societal success: rational self-interest undermining the common good. General prosperity requires large-group cooperation, and the most effective large-group cooperation requires having a high-trust society. This book explains why the larger a society is, the more difficult it is to sustain a high-trust society. At the same time, the larger societies become, the more likely rational self-interest and tribalism will undermine crucial but highly trust-dependent institutions like democratic voting and a free press. This book shows how culture uniquely addresses this problem by aligning individual interests with the common good when specific kinds of moral beliefs are strongly held by most people. Culture also matters instrumentally because childhood instruction, a hallmark of culture, helps overcome the irrationality of adult individuals choosing to have moral beliefs that they know will limit their ability to promote their own welfare at the expense of the common good in the future. The analysis has surprising implications for the family, religion, government, and the stability of Western free market democracies.


2017 ◽  
Vol 20 (7) ◽  
pp. 91-101
Author(s):  
Piotr Kopiec

The notion of meritocracy is among the keywords used to describe the contemporary world. Increasingly, it has become a central concept of an order with globalization and the impact of free-market philosophy on society and culture as the main factors. The concept of meritocracy examines the nature of elites. On the one hand, meritocratic elites come from groups selected for their merits and competences; on the other hand, they avoid their responsibility towards society and culture. Amongst many counterproposals, it seems worthwhile to present the evangelical concept of elites embedded in evangelical social teaching. Evangelical theology introduces the idea of responsibility elites in its social discourse. According to evangelical theologians, in order to overcome the growing social, economic and cultural crisis of today, it might be necessary to rehabilitate the notion of the common good. Considered from a sociological and a theological standpoint, responsibility elites play a significant role in spreading the concept of the common good. The article presents theological guidelines for evangelical teachings on elites as well as evangelical proposals concerning the subject matter, collating them with a comprehensive assessment of meritocratic elites.


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