The Sean McDowell Show The Case for Capitalism
Jan 6, 2026
Scott Rae, an ethicist and author of The Virtues of Capitalism, engages in a thought-provoking discussion about capitalism and its moral implications. He addresses the resurgence of socialism among Gen Z and clarifies economic distinctions between ownership models. Rae argues that capitalism fosters prosperity through incentives and innovation while providing moral reasons for its defense. He also highlights how markets can channel greed into charitable endeavors and how proper teachings can guide Christians in economic responsibility.
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Firsthand View Of Socialist Shortages
- Scott Rae recounts witnessing Czechoslovakia's shortages and underemployment under socialism in 1972.
- He uses that experience to illustrate socialism's practical failures in production and incentives.
Markets Lift Nations From Poverty
- Market economies historically lifted billions out of poverty and align with biblical mandates to care for the poor.
- They incentivize innovation, stewardship, and virtues like perseverance that benefit the common good.
Incentives Drive Productive Cooperation
- People respond to incentives, so markets channel self-interest into producing goods and services for others.
- Adam Smith's insight shows private pursuit can serve the common good through coordinated cooperation.
