Mutually beneficial exchange builds flourishing communities and strengthens the bonds of trust.
The market economy is a community of persons, and it can offer every human person the opportunity to creatively apply and cultivate talents, as well as develop important virtues, such as diligence, industriousness, truthfulness, and reliability in interpersonal relationships, which are essential to living a fulfilling life.
The false promises of socialism have resulted in historic suffering and political tyranny. That said, markets and competition are important, but they do not automatically guarantee the common good. Therefore, the market needs collaboration and control by social forces and, in a subsidiary way, by the state.
What are the roots of income and wealth inequality? And how should we answer calls to redistribute wealth through political coercion?
Business and Finance
Acton Institute believes that commerce is an essential component of any society, enabling individuals to freely serve the needs of one another through mutually beneficial exchange.
The Acton Institute acknowledges the legitimate role of profit as an indicator that a business is functioning well, and it affirms the importance of business as a calling from God. Entrepreneurship is not only an economic necessity but also a moral value in the dynamic process of modern economy.