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August 7, 2022 Reading Time: < 1 minute

Proponents of free markets often provide excellent economic arguments, but what about the moral argument for free markets vs. interventionist systems? What kinds of virtues can free markets encourage?

Dr. Samuel Gregg and Kate Wand explore how government interventions such as protectionism and tariffs do not provide incentives to be creative and lead to higher prices, cronyism, and inefficiency.

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Samuel Gregg

Samuel Gregg

Samuel Gregg is Distinguished Fellow in Political Economy and Senior Research Faculty at the American Institute for Economic Research. He has a D.Phil. in moral philosophy and political economy from Oxford University, and an M.A. in political philosophy from the University of Melbourne.

He has written and spoken extensively on questions of political economy, economic history, monetary theory and policy, and natural law theory. He is the author of sixteen books, including On Ordered Liberty (2003), The Commercial Society (2007), Wilhelm Röpke’s Political Economy (2010); Becoming Europe (2013); Reason, Faith, and the Struggle for Western Civilization (2019); The Essential Natural Law (2021); and The Next American Economy: Nation, State and Markets in an Uncertain World (2022). Two of his books have been short-listed for Conservative Book of the Year. Many of his books and over 400 articles and opinion pieces have been translated into a variety of languages. He is also a Contributor to Law and Liberty, a Fellow of the Royal Historical Society, an Affiliate Scholar at the Acton Institute, a Fellow of the Center for the Study of Law and Religion at Emory University. He also serves as a Visiting Scholar at the Heritage Foundation.

He has published in journals such as the Harvard Journal of Law and Public Policy; Journal of Markets & Morality; Economic Affairs; Law and Investment Management; Journal des Economistes et des Etudes Humaines; Notre Dame Journal of Law, Ethics and Public Policy; Oxford Analytica; Communio; Journal of Scottish Philosophy; University Bookman; Foreign Affairs; and Policy. He is a regular writer of opinion-pieces which appear in publications such as the Wall Street Journal Europe; First Things; Investors Business Daily; Law and Liberty; Washington Times; Revue Conflits; American Banker; National Review; Public Discourse; American Spectator; El Mercurio; Australian Financial Review; Jerusalem Post; La Nacion: and Business Review Weekly. He has served as an editorial consultant for the Italian journal, La Societa, and American correspondent for the German newspaper Die Tagespost. He has also been cited in the New York Times, the Wall Street Journal, Forbes, Time Magazine, Christian Science Monitor, the Washington Post, the New Yorker, and the Holy See’s L’Osservatore Romano.

In 2001, he was elected a Fellow of the Royal Historical Society, and a Member of the Mont Pèlerin Society in 2004. In 2008, he was elected a member of the Philadelphia Society, and a member of the Royal Economic Society. In 2017, he was made a Fellow of the Center for the Study of Law and Religion at Emory University. He served as President of the Philadelphia Society from 2019-2021.

He is the General Editor of Lexington Books’ Studies in Ethics and Economics Series. He also sits on the Academic Advisory Boards of the Institute of Economic Affairs, London; Campion College, Sydney; the La Fundación Burke, Madrid; the Instituto Fe y Libertad, Guatemala; and as well as the editorial boards of the Journal of Markets and Morality and Revista Valores en la sociedad industrial.

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Kate Wand

Kate Wand is a content creator. Her focus is social commentary and filmmaking. She is the host of AIER’s Liberty Curious podcast.

You can follow her on Twitter @katewand.

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