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Distilling Economic Literature

Tag: Design

Capitalism versus Socialism

Next We See What the Bible Says about the Four Pillars

Dr. Ellen Clardy, February 16, 2024August 18, 2025

Part 2 of A Discussion of Thomas D. Simpson’s Capitalism versus Socialism Chapter 1 “Pillars of Economic Systems” Last blog, I introduced the four pillars and the four economic systems they define. Now, Simpson is looking to the Bible for any direction for answering the four pillars. Pillar 1: Who Owns Property It…

Virtues Abounding

Why You Should Strive to be Prudent

Dr. Ellen Clardy, December 16, 2023August 14, 2025

A Discussion of Mark O’Keefe’s Virtue Abounding Chapter 2 “Prudence” Prudence is not a word we hear much today so saying it is a virtue likely does not communicate much. O’Keefe gives us St. Thomas of Aquinas’s definition as the “abiding inclination to decide well.” (p. 11) So that’s all clear now!…

Virtues Abounding

A Return to Striving for a Virtuous Life Solves Many of Society’s Ills

Dr. Ellen Clardy, December 8, 2023August 14, 2025

A Discussion of Mark O’Keefe’s Virtue Abounding Chapter 1 “The Virtuous Life” Last chapter introduced the idea of the seven virtues. The four cardinal virtues are courage, prudence, justice, and temperance, and the three theological virtues are faith, hope, and love. Now we turn to the question, what is a virtuous life?…

Why We Bite the Invisible Hand

Are We Anti-Capitalist by Design or by Evolution?

Dr. Ellen Clardy, June 30, 2023August 5, 2025

A Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 7 “Darwin’s Dangerous Idea” As Foster continues to explore reasons people tend to dislike capitalism despite the wealth it has generated the past couple of hundred years, he turns to the ideas of Charles Darwin and natural selection….

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