Sunday, February 6, 2011

Ronald Nash on the Morality of the Market

One of my intellectual inspirations when I was a young economics major at Northwestern College was the incomparable Ronald H. Nash. He was a philosopher by training, spending man years as professor of philosophy at Western Kentucky University and then taught at Reformed Theological Seminary and the Southern Baptist Theological Seminary. He authored 35 books.

In the late 1980s, Nash lectured at my campus as part of the Staley Lecture Series and, providentially, he had just written a book on economics called, Poverty and Wealth: The Christian Debate Over Capitalism. Consequently, his public lecture was entitled "The Achilles Heel of Socialism" in which he presented an Austrian analysis of the calculation and incentive problems inherent in socialism and rightly presented the free market as the polar opposite of both fascism and communism.

I recently came across this video of a lecture he gave at about the same time he visited my school. The lecture was sponsored by the Foundation for Economic Education and Nash speaks on the topic, "The Morality of the Market."

Morality of the Market from FEE on Vimeo.

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