30 years after the release of his ground-breaking work, The Spirit of Democratic Capitalism, Michael Novak has returned to answer the question of what gives rise to democratic capitalism – that intricate blend of commerce and rule of law that encourages peace and global trade – in a new essay, “The Spirit of Democratic Capitalism, 30 Years Later.”
In partnership with the Institute for Faith, Work & Economics (IFWE), Mr. Novak’s essay was published, in part, by First Things in its June/July 2015 issue. A full version of his essay is available in digital and print formats in the IFWE bookstore. His essay is vital to understanding the intangible environment that best inspires human flourishing, as it discovers capitalism’s essence, and uncovers what truly fosters creativity.
Novak articulates how democratic capitalism works toward creating, not just consuming, wealth, along with encouraging ambition, discipline, and mutual benefit. He explains how critics fail to consider the interaction between the system and the role that economic, political, and moral liberties play in comprehensive human flourishing.
This new and exciting work enlivens the connection between the Bible and democratic capitalism by showcasing how seamlessly the dynamic polity fits with the imperatives of human capacity and drive.