Blog by Murph

Sharing perspectives on key social, economic and political issues of the day

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Posts Tagged ‘Economy’

Markets and Morality

Posted by blogbymurph on August 4, 2019

Great weekend interview in the WSJ can be found here.  William McGurn interviews co-founder and president of the Acton Institute for the Study of Religion and Liberty, the Rev. Robert A. Sirico who has another, equally demanding ministry: preaching the virtues of economic freedom.

The Acton Institute is a think-tank whose mission is to promote a free and virtuous society characterized by individual liberty and sustained by religious principles.

“The answer isn’t to head to the hills,” Father Sirico says. “The answer is a simultaneous liberality in our economy and vigor in our moral stances.”

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Capitalism gets no respect…

Posted by blogbymurph on January 2, 2010

Good commentary from Jonah Goldberg regarding NPR’s treatment of capitalism…     

Consider NPR. As a brand, it claims to be standing athwart capitalism because it’s “public.” What that means exactly is a bit unclear, since it still allows corporations to fund its programming in exchange for audio endorsements none dare call commercials and relies on the kindness of listeners to keep it afloat — listeners who, one way or another, make their money from you-know-what.

Indeed, speaking of the decade in capitalism, National Public Radio failed to mention that Joan Kroc, widow of Ray Kroc, the founder of McDonald’s, left more than $200 million to NPR in 2003. Mrs. Kroc’s generosity of spirit was her own, but the wampum is all capitalism’s, baby.

Free markets and capitalism get no respect… 

Every good thing capitalism helps produce — from singing careers to cures for diseases to staggering charity —  is credited to some other sphere of our lives. Every problem with capitalism, meanwhile, is laid at her feet. Except the problems with capitalism — greed, theft, etc. — aren’t capitalism’s fault, they’re humanity’s. Socialist countries have greedy thieves, too.

Free markets are in disrepute these days, particularly by the people running Washington. For them, government is the solution and capitalism is the problem. If they have their way over the next decade, they won’t cure what allegedly ails capitalism — people will still steal and lie — but they will impede everything that makes capitalism great. And that will be bad for everyone, even NPR.

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Fascism Defined…

Posted by blogbymurph on September 7, 2009

Private industry under the direct control of government becomes enslaved to politics — sound familiar?  If not, recall the Stimulus Plan, bank bailouts, government takeover of GM and Chrysler, and the upcoming Obamacare and Cap & Trade schemes?  We are getting dangerously close…          

Fascism, like communism and socialism, is a form of collectivist politics. As the great author H.P. Lovecraft put it, when describing the dark gods of his horror stories: “Many names, one nightmare.” These philosophies share a belief in the supreme power and virtue of the central State. Under communism, government owns the means of production – there is no private industry. In a socialist system, the State is nominally separate from private industry, but it siphons large amounts of money from the private sector to fund the socialist agenda. Fascism maintains private industry, but places it under the direct control of the government. Private industry still exists, but the State sets production goals, directly controls economic activity, and dominates the management of corporations. Industry becomes enslaved to political goals.  Read the full article at 



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Economics 101…

Posted by blogbymurph on January 9, 2009

Despite the hype, this is not the first or even the most severe recession we’ve faced.  Reagan inherited a far more serious economic situation than Obama.  He devised a simple strategy which has resulted in over 25 years of economic prosperity.  Cut taxes and reduce government spending.  Reagan unleashed the power of the free market and left the creation of wealth and jobs to entrepreneurs, not government bureaucrats.

The Obama stimulus plan will increase the size and power of the federal government, adding more than 600,000 federal employees.  It will reward special interest groups (i.e. teachers unions) with more money for their support in the 2008 elections.  It will continue to bail out poorly managed institutions, be they private enterprise or state governments.  It will redistribute wealth by giving tax rebates to those who don’t even pay taxes.  It will also prolong the recession.

Edwin J. Feulner of the Heritage Foundation describes a true conservative approach to fixing the economy:  fix the tax code so it encourages greater economic growth by improving the long-term rewards for investing in job-creating enterprises.  Lowering tax rates on capital and labor is the best possible tonic for our economic ailments.

Feulner advocates the following:

  1. Make permanent the income tax rate reductions that passed in 2001 and 2003
  2. Reduce the corporate tax rate to at least 25 percent to enable American companies to compete with those overseas
  3. Reduce marginal income tax rates for at least five years to reassure working families that their taxes will be affordable in the years ahead
  4. Extend “bonus appreciation” for at least two more years to make new equipment more affordable and thus encourages businesses to upgrade, a policy that helps get the economy moving

Learn more about proven ways to fix the economy at the Heritage Foundation

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