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The fall of communism conclusively demonstrated that capitalism is the better economic system. Free markets are unsurpassed in their ability to provide material bounty, but in the aftermath of the economic crisis some ask, are they moral? Even Pope Benedict is said to have retreated from his predecessor’s strong support for the market economy in the latest papal encyclical, Caritas in Veritate.
Jay Richards takes on the critics of capitalism in his new book, Money, Greed, and God: Why Capitalism Is the Solution and Not the Problem. He argues that markets, though imperfect, are a natural outgrowth of God’s creation and an important tool for helping the poor and disadvantaged. Commenting on Richards’ presentation is Cato Institute Senior Fellow Doug Bandow, also the author of Beyond Good Intentions: A Biblical View of Politics. Moderating the discussion is Daniel Griswold, the Cato Institute’s director of the Center for Trade Studies.