December 8th 2012


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Articles from this issue:

EDITORIAL: Defence Minister declares war on the services

CANBERRA OBSERVED: Labor celebrates surviving its fifth year in power

SCIENCE: Climate alarmism not justified by the evidence

NATIONAL AFFAIRS: AFA calls for wide-ranging inquiry into child sex abuse

NATIONAL AFFAIRS: New anti-discrimination bill threatens religious freedom

CANADA: Impact of same-sex marriage laws on free speech

INTERNATIONAL AFFAIRS: South Africa - flawed, but not yet fractured

ECONOMIC AFFAIRS: Radical bank reform that could help end economic instability

OPINION: Is economics a part of ethics?

QUOTATIONS: The wisdom of Wilhelm Röpke (1899-1966)

GREAT FIGURES: One of the 20th century's greatest humanitarians

LIFE ISSUES: Abortion's short-sighted solution delivers long-term heartbreak

LETTERS

CINEMA: Stellar cast in latest James Bond movie

BOOK REVIEW Reflection on arranged marriages

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QUOTATIONS:
The wisdom of Wilhelm Röpke (1899-1966)


by Wilhelm Röpke

News Weekly, December 8, 2012

Extracts from German economist (and refugee from Hitler) Wilhelm Röpke’s classic work, A Humane Economy: The Social Framework of the Free Market [1957], ISI Books, 3rd edition, 1998. (Book available from News Weekly: see page 21).

Page 5: “My picture of man is fashioned by the spiritual heritage of classical and Christian tradition. I see in man the likeness of God; I am profoundly convinced that it is an appalling sin to reduce man to a means … and that each man’s soul is something unique, irreplaceable, priceless, in comparison with which all other things are as naught.”

Page 6: “The market economy is not everything. It must find its place within a higher order of things which is not ruled by supply and demand, free prices, and competition.”

Page 35: “Market economy is one thing in a society where atomization, mass, proletarianization and concentration rule; it is quite another in a society approaching anything like the ‘natural order’ which I have described (elsewhere)…. In such a society, wealth would be widely dispersed; people’s lives would have solid foundations; genuine communities, from the family upward, would form a background of moral support for the individual; there would be counterweights to competition and the mechanical operation of prices; people would have roots and would not be adrift in life without anchor; there would be a broad belt of an independent middle class, a healthy balance between town and country, industry and agriculture.”

Page 125: “Self-discipline, a sense of justice, honesty, fairness, chivalry, moderation, public spirit, respect for human dignity, firm ethical norms — all of these are things which people must possess before they go to market and compete with each other. These are the indispensable supports which preserve both market and competition from degeneration. Family, church, genuine communities, and tradition are their sources.”

Page 126: “The ultimate moral support of the market economy lies outside the market. Market and competition are far from generating their moral prerequisites autonomously.” 


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