Economics

“... it seems we are always about to solve poverty.”

"To the extent that flourishing economies burst forth from fertile soil, it’s worth asking whether economic experiments like these can aid us in understanding how soil that is currently infertile might be enriched. But we should also ask whether some of our current efforts are poisonous rather than enriching." - Acton

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Drucker on the church that puts economics in perspective

"The economy is a system through which we exchange value and make a contribution that benefits both ourselves and others. Accordingly, it would be tempting to arrive at some judgment of our own value as a person based on the rewards that arise through our economic participation. Of course, that isn’t true or even mostly true." - Acton

262 reads

Yet another example of how the Vatican misunderstands America . . . and economics

"The cardinal unfortunately reverts to a simplistic caricature of Adam Smith’s 'invisible hand,' contrasting it with the 'visible hand of an economy which is able to serve all members of the community well.' . . . Smith’s point was that demanding people to ignore their self-interest, as moralists are wont to do, is unrealistic and socially destructive, encouraging hypocrisy rather than virtue." - Acton

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