Acton Commentary: Clergy and Economists: Allies Not Adversaries
(Dr. Dwight R. Lee is the William J. O’Neil Endowed Chair in Global Markets and Freedom at Southern Methodist University.)
Members of the clergy and those who work as economists have formed their understandings of the world by examining it through different windows. Yet, the social objectives of both are remarkably similar, even though their windows on the world suggest different approaches to achieve those objectives. The differences between them are in their emphasis on how to achieve their common objectives. These differences in approach are important and should not be understated, but neither should they be overstated as they almost always are.
While the clergy and economists emphasize different paths to their common objectives, those paths complement each other. Yet they are commonly discussed as if they represent morally irreconcilable differences in objectives because people tend to confuse means with ends.
My hope is that members of the clergy, in their desire to achieve a better world, will begin to see economists as allies instead of adversaries. This hope may be dismissed as preposterous by some since, as an economist, I argue that market incentives are the most effective way of achieving many of the social outcomes most of the clergy favor. But those most opposed to market incentives for achieving desirable objectives have the most to gain by taking a look through the economic window. Much of the skepticism, indeed hostility, towards markets is based on distorted and mistaken views of how markets operate and what they accomplish. ….
This piece is an absolute gem! Be sure to read the whole thing.
(HT: Victor Claar)
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