Economist Friedrich von Hayek once pointed out that pricing’s charm stems from its unplanned emergence without deliberate human creation. Prices make complex processes easier by offering a standard unit of exchange. They smooth out interactions in the face of hurdles like rising transportation costs, material shortages and consumer preferences. However, this delicate price mechanism can … Read more
On September 21, Return to Order author John Horvat gave a presentation to the Indianapolis Chapter of Legatus. The title of the presentation was “How Catholics Can Do Business and Practice Their Faith.” The Catholic association of entrepreneurs hosts monthly events highlighting issues of concern to its members. The talk to the vibrant chapter was … Read more
When the Soviet Union dissolved the day after Christmas 1991, it inaugurated a season of celebration in Miami’s many Cuban neighborhoods. Long-time exiles pulled yellowing deeds and other legal documents out of bank safety deposit boxes, preparing to return to Cuba and reclaim land, homes and businesses confiscated by Castro’s socialist experiment. There was no … Read more
The big problem with debt is that it is addictive. Once a person starts down this ramp, it is hard to stop before insolvency. Addictions give way to irrational action. Sometimes the only way to stop is to crash into something hard. The debt problem is compounded exponentially when the addict is not an individual … Read more
The latest meltdown in the crypto-currency market is one more example of the frenetic intemperance of an economy that values profits over wealth. The FTX crypto-currency exchange failed when spooked investors tried to withdraw $8 billion from their accounts. A classic bank run that followed threw the underfunded exchange into bankruptcy. The FTX Crypto fiasco … Read more
One persistent myth in today’s materialistic society is that money rules everything. Those wishing to understand why people act the way they do are told to “follow the money.” The lust for power and wealth trumps everything. However, there are more important things than money—even on Wall Street. Some liberal businessmen and investment management firms … Read more
The Economy of Francesco is the name of a 2019 initiative created by Pope Francis to address the world’s economic problems. He invited “young economists, entrepreneurs and change-makers of the world” to participate in studies to explore new ideas to change how people and nations live and manage the economy. On September 24, 2022, Pope … Read more
Two of the most sacred tenets of a liberal economy are the notions of moral neutrality and free markets. Wall Street does not get involved in personal beliefs and mores because it is bad for business. As long as the right of property and contracts are respected, the classical liberal is unconcerned with clashing religious … Read more
There is a hidden gem in Brazil called Ouro Preto. It is a small city, but it serves as a beautiful example of how grace can move souls to fashion a harmonic, healthy and thoroughly Catholic society. This city is built upon abundant natural resources. It is rich in minerals and precious metals, especially gold. … Read more
A society can only truly flourish when centered upon the law of God. It must be guided by the principles of Christian morality and encourage family life as a good in itself. This scenario of a truly Christian society is all too sadly not the goal of so many nations that think only of economic … Read more
