The Economics of Generosity

There is little, if any, virtue in giving gifts to the people we love. Giving gifts to those we love is like giving gifts to ourselves. There is still less virtue in taking what’s under somebody else’s Christmas tree and distributing it to your friends and allies while congratulating yourself on your compassion. To do so is unseemly. Pope Francis is quite right to argue that economic growth alone does not ensure the humane treatment of the poor and the vulnerable — where he is mistaken is that he assumes that there is another side in that argument. Nowhere in the classical liberal tradition, and certainly not in the Anglo-American liberal tradition, has the idea taken root that capitalism is a substitute for generosity. Capitalism is the precondition of generosity. If you want to feed the Lord’s sheep, you must begin by planting the fields.