Home
/
RELIGION & LIBERTY ONLINE
/
Why capitalism is worth conserving
Why capitalism is worth conserving
Mar 1, 2026 12:03 AM

Capitalism is worth conserving not because free markets are a “necessary tool” for economic growth, but because economic freedom honors the dignity and creative capacity of the human person.

Read More…

Amid the waves of populism and protectionism sweeping across the American Right, capitalism has e a favorite target of many prominent conservatives, blamed for the decline of religion, the demise of the family, and the erosion of civil society.

Whether the e from politicians like Josh Hawley or pundits like Tucker Carlson, free-market conservatives are increasingly scolded for being mitted to economic freedom. To no surprise, the Left continues its own critiques as it always has, spurring a strange, unspoken alliance among otherwise ideological foes.

But if we hope to restore the social order, success will e by succumbing to the illiberalism of populists and progressives, adopting zero-sum mythologies and Pollyanna-ish protectionism in hopes that government can somehow piece us back together again.

Instead, the modern right needs a renewed understanding of what economic freedom actually is and what it’s ultimately for – how it affirms our dignity, unleashes our creativity, and empowers munities to respond to the various moral crises we face.

In a recent column, Ross Douthat addresses some of the key tensions at play, noting that while certain economic idols have surely played a role in the rise of Western decadence and decay, the cultural factors are far plex than the popular narrative suggests.

For example, while many of today’s anti-capitalism “traditionalists” are (rightly) fond of romanticizing munitarian past, few seem to realize that America’s “Tocquevillian utopia” of associational life was a byproduct, not a precondition, of economic dynamism:

If the anti-traditional churn of capitalism inevitably doomed religious munal associations or the institution of marriage, you would expect those things to simply decline with rapid growth and swift technological change. Imagine, basically, a Tocquevillian early America of sturdy families, thriving civic life and full-to-bursting pews giving way, through industrialization and suburbanization, to an ever-more-individualistic society.

But that’s not exactly what you see. Instead, as Lyman Stone points out in a recent report for the American Enterprise Institute (where I am a visiting fellow), the Tocquevillian utopia didn’t really yet exist when Alexis de Tocqueville was visiting America in the 1830s. Instead the growth of American associational life largely happened during the Industrial Revolution. The rise of fraternal societies is a late-19th- and early-20th-century phenomenon. Membership in religious bodies rises across the hypercapitalist Gilded Age. The share of Americans who married before age 35 stayed remarkably stable from the 1890s till the 1960s, through booms and depressions and drastic economic change.

After the 1960s, however, something changed, “with churches dividing, families failing, associational life dissolving.” It’s a trend that’s continued to this day, explored at length by folks like Robert Putnam, Charles Murray, and Yuval Levin. And it is here where conservatives now begin plaints about capitalism.

Here, too, the historical reality is a bit plex. Douthat duly recognizes the role of the “economic and sexual individualism of the neoliberal age,” but he also reminds us that economic dynamism has been on the decline, as well. “It can’t just be capitalist churn undoing conservatism, exactly, if economic stagnation and social decay go hand in hand,” he writes.

Further, such decline has been largely mirrored (and preceded) by similar trends across Western Europe, which has seen its share of decline in family formation and institutional life. These countries are not exactly bastions of “unfettered capitalism,” boasting massive, state-based welfare programs and cultures that are far less individualistic in their ethos.

In light of such evidence, we’d do well to make a distinction between economic freedom and humanity’s ongoing propensity to abuse its many fruits.

“It’s not that capitalist dynamism inevitably dissolves conservative habits,” Douthat writes. “It’s more that the wealth this dynamism piles up, the liberty it enables and the technological distractions it invents, let people live more individualistically – at first happily, with time perhaps less so – in ways that eventually undermine conservatism and dynamism together.”

These are predictable problems of plenty, temptations toward materialism, individualism, placency that tend to increase with widespread prosperity, however es. We ought to treat them accordingly, addressing Western decadence at the level of the human soul and spirit, not by turning to the federal government as a new and improved fatted calf.

“If the decay of faith or family were really a simple matter of ‘too much capitalism,’ you could imagine a right that eventually got over its rugged individualism and chose redistribution and sustainability instead,” Douthat says. Instead, “conservatives actually need to somehow jump-start a lot of forms of dynamism all together.”

For Douthat, the task of “jump-starting” dynamism involves a particularized approach to “traditionalist-friendly” government policy. Yet even he is willing to acknowledge that the best and brightest policy proposals will not be sufficient to e the struggles we face.

The more difficult work is cultural work, requiring a deeper, wider revival of munities and institutions. If we routinely castigate the causes of liberty – outsourcing “protection” and “planning” to the administrative state – will we really have what it takes to confront moral challenges in the places and spaces where it matters the most?

For conservatism to truly thrive, and more importantly, for munities to be revived, we need an embrace of freedom on all fronts, economic, religious, political, and otherwise, as well as the wisdom and cultural wherewithal to rise to the moral challenges that true freedom actually requires. “Social conservatism can be undermined by economic dynamism, but also respond dynamically in its turn,” Douthat concludes, “through a constant ‘reinvention of tradition,’ you might say, manifested in religious revival, new forms of association, new models of courtship, even as older forms pass away.”

The critics of capitalism are right about one thing: Free markets, by themselves, are not enough. We also need virtue. We need spiritual formation and transformation. We need healthy institutions and munities. But these pieces can’t e together if we pretend that economic freedom isn’t a crucial part of the picture.

As Rev. Robert Sirico once wrote:

It is a mentary on our times that the political and ethical cognoscenti associate freedom with licentiousness, antinomianism, atomistic individualism, and an array of similar vices antithetical to virtue. Despite this attitude on the part of many professional mon sense tells any sane person that a society that is both free and virtuous is the place in which he would most want to live. But what exactly would it mean to advocate and work toward the construction of such a society?

… The Reverend Edmund Opitz, a Congregationalist minister who has been writing on these themes for many years, puts it this way: “Political theory in our tradition is based on the assumption that men must be free in society because each person has a destiny beyond society which he can work out only under conditions of liberty.”

If it is true that each individual has such a destiny, then he cannot be treated merely as a means to an end, but as an end in himself. And if each individual is an end in himself, then it would be a gross violation of the essential nature and basic dignity that each person possesses to treat him as a means to someone else’s ends. In addition to the violation of human dignity that would result, such a treatment of people (as means rather than ends in themselves) would undermine the very foundation of civil organization.

Contrary to mon caricatures, capitalism is worth conserving not because free markets are a “necessary tool” for economic growth, but because economic freedom honors the dignity and creative capacity of the human person.

If we hope to battle the social corrosion of our day and build an economy that is both dynamic and humane, we ought to set our sights where virtue actually begins: in each and every human heart. Economic freedom is but one step on the path to human flourishing, but it’s one we can’t do without.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
America remains
From the ancient Greeks and Romans – from Heraclitus and Polybius to Livy – Western civilization came to accept the idea that all governments, but especially free ones, go through distinct organic and biological stages. They are born, they grow old and corrupt, and they die. Many, such as Livy, focused on the death aspect of this cycle, arguing that Rome had been declining from its very origins. In looking at the history of Rome, he wrote, “I would have...
Deutsche Bank’s work-from-home tax is economic insanity
As if 2020 could not get any worse, this week intellectuals unleashed another pandemic: a new proposed tax. Deutsche Bank suggested that the government lay a 5% “privilege” tax on employees who work from home, on the grounds that they “disconnect themselves from face-to-face society.” This misguided scheme would engage in useless social engineering, disregard the needs and wishes of female employees, harm vulnerable workers, require a massive invasion of privacy, and subsidize failing business owners to cut low wages...
Applications now open: Mini-Grants on Free Market Economics
The Acton Institute’s Mini-Grants on Free Market Economics: Research & Teachingprogram continues for the ing 2021 academic year, and the applicationis now live. This grant program is intended to enhance the effectiveness of research and teaching about market economics for faculty at colleges, universities, and seminaries in the United States and Canada. With this progam’s minimal application requirements and straightforward application process, there is plenty of time to prepare your application and apply online by the March 31, 2021, deadline....
6 quotes: Lord Rabbi Jonathan Sacks
Lord Rabbi Jonathan Sacks, the former Chief Rabbi of the UK and a member of the House of Lords, passed away early on the morning of Saturday, November 7, 2020, following his third bout with cancer. He was 72 years old. Rabbi Sacks, who was knighted in 2005, authored more than two dozen books and recorded the “Thought for the Day” broadcast on BBC’s Radio 4. The rabbi, who won the 2016 Templeton Prize, was buried on Sunday according to...
Victories for liberty: 2020 state ballot initiatives
Whatever the e of the 2020 presidential race, liberty won numerous victories – and suffered a handful of setbacks – in state referendums nationwide. Voters in both “blue” and “red” states endorsed policies to advance individual initiative, limit government overreach, and establish equal justice under the law. However, they also voted for higher taxes on tobacco and a $15-an-hour minimum wage. Here is a state-by-state look at several of the most important results. California: The nation’s most populous state decided...
Ride sharing in Nepal: a story of bottom-up empowerment
Over the past decade, ride-sharing services like Uber and Lyft have led a transformative wave of gig-economy disruption, allowing drivers to work independently from taxi panies and the unions and bureaucracies that control them. It’s an inspiring story of bottom-up innovation and human empowerment in the face of entrenched interests and outdated laws. And in our increasingly technological and globalized age, it’s a story that continues to spread across countless industries and contexts. In a short film from Dignity Unbound,...
Life in exile: Rabbi Jonathan Sacks on ‘creative minorities’
Lord Rabbi Jonathan Sacks recently passed away from cancer at the age of pleting a rich life and establishing a legacy as one of Judaism’s leading public intellectuals. As former Chief Rabbi of the United Kingdom and a member of the House of Lords, Sacks had a unique ability to weave together Jewish insights across a range of intersecting areas – from philosophy and theology to economics and politics – leading to a distinctive moral witness amid the rise of...
The Acton Institute shares the basics of economics with the French-speaking world
Such simple concepts of economics as scarcity, the importance of contract enforcement and private property rights, and the retreat of global poverty seem altogether foreign to many influential people — including many who make economic policy. Nonetheless, these are bedrock principles shared by a broad variety of economists. And they are now more accessible to the 275 million people worldwide who speak French as a primary language. The Acton Institute’s Religion & Liberty Transatlantic website has posted a French translation...
Jordan Ballor discusses scarcity, theology, and economics on ‘Faithful Economics’
I was honored to be a guest on the Faithful Economics podcast, sponsored by the Association of Christian Economists (which also publishes the journal Faith & Economics). I joined host Steven McMullen of Hope College to talk about the dialogue between theology and economics. Here’s a description of the episode, along with some links for further reading: This episode features a conversation with Jordan Ballor, a senior research fellow at the Acton Institute. We take a deep dive into the...
The silver lining to Biden’s victory
This election is the final proof we didn’t need that the Republican Party of 2020 is truly the party of Donald Trump. He remade the party in imago Trumpi. As a result of his ascent within the party, many conservative ideas are ideologically homeless. Though Trump continues to cite legal challenges, Joe Biden will be the next president of the United States. This will undeniably change Republican pared to the last four years. But instead of mourning Trump’s loss, conservatives...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved