free market capitalism
FINANCE-DOMINATED capitalism uses a variety of institutional means to single out individuals and render them accountable for their own fortunes, the bearers of either praise or blame. Economic success or failure becomes one’s individual responsibility, revelatory of who one is as a person. Moralized evaluation of individual success or failure figured prominently in the old Protestant work ethic and now reappears in exaggerated form within a finance-dominated work ethic.
Economic success or failure in that old religious ethic was deemed indicative of one’s fundamental individual character—reflective, that is, of the particular standing before God that defined one in religious terms, success being a mark of election to salvation, failure a sign of exclusion. Hoping to confirm one’s salvation by the character of one’s economic activity, one worked hard as capitalism demanded—to gain economic success and in that way distinguish oneself from others, not just economically but religiously.
"Moses mit den Gesetzestafeln" via Wylio [http://www.wylio.com/credits/Flickr/3542205854]
The primary political conversation that is happening in our country isn’t a dualistic battle between a “free market” system and a “statist/socialist” one. It is determining which mix of institutions and organizations are best equipped to meet societal challenges and achieve collective goals while allowing for individual freedom and human flourishing.
There aren’t many people who would argue that we need a new federal bureaucracy to run all of our grocery stores. But, you will find people who have varying views as to the government’s role in ensuring that those in need have basic access to nutrition, or what information the government should mandate that growers, producers, or sellers of food disclose to consumers.
Rabbi Spero makes some important scriptural points as to the importance of personal responsibility, human creativity, and freedom, but fails to deal with any passages that might temper or balance his views of capitalism.