What about them, Sisters?

What about them, Sisters?

Religious shareholder activism continues its war on affordable, domestically produced energy in a campaign that can only be described as unholy. The first casualties of this war are the nation’s 10.5 million job seekers, the millions more who have quit looking for work, and the poor. The 2014 proxy resolution season finds the Sisters of St. Francis of Philadelphia joining other shareholders to force a May 2014 vote at Chevron Corp., which would require the company to report hydraulic fracturing (aka “fracking”) risks.

According to Houston Business Journal reporter Jordan Blum:

The effort is part of a larger one involving other shareholder activist groups that are pushing the same issue with Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM), Houston-based Occidental Petroleum Corp. (NYSE: OXY), Houston-based EOG Resources Inc. (NYSE: EOG) and Irving-based Pioneer Natural Co. (NYSE: PXD).

Blum continues:

The domestic shale boom and Houston’s economic growth in recent years have received major assists from hydraulic fracturing. Although Chevron is based out of California, it is one of Houston’s 10 largest energy employers with more than 7,000 local workers, according to Houston Business Journal research.

A new filing on Chevron with the U.S. Securities and Exchange Commission by the Catholic order argues that fracking “continues to be linked to significant environmental and social impacts that could have financial implications for the company due to increased community opposition and regulatory scrutiny.” The filing notes that fracking “uses millions of gallons of water mixed with thousands of gallons of toxic chemicals to extract natural gas from underground shale formations.” (more…)

Children-in-PovertyFrom the fiscal to the familial, conservatives have the right answers, says Kevin D. Williamson:

The conservative hesitancy to put the issue of poverty at the center of our domestic economic agenda, rather than tax rates or middle-class jobs, is misguided — politically as well as substantively. Any analysis of the so-called War on Poverty, officially at the half-century mark this year, will find that the numbers are very strongly on the side of the conservative critique of the welfare state: We spend a great deal of money, achieve very little in the way of measurable positive good, and inflict a great deal of destruction on families and communities in the process. Addressing poverty in a meaningful and robust way calls for a response from every part of the conservative coalition, because we have a generation’s worth of social-science research documenting that poverty is only partially an economic phenomenon. Poverty is complexly intertwined with marriage and family, with childbearing habits, and with the prevailing norms in local communities. The cause-and-effect relationships here can be complicated, and they operate at the community level as well as the individual level: For example, poor children with married parents experience better long-term economic outcomes than do those with single parents, but the more significant variable, according to a fascinating Harvard study on the subject, is the prevalence of marriage in their communities. It matters whether a poor child has married parents, that is, but it matters even more how many of his friends and classmates have married parents. The free market is part of the solution here, but it is only a part of the solution. But whether the question is the organization of our families, the organization of our tax code, or the organization of our schools, conservatives are well-positioned to step in and do something about the mess the Left has made of things, if only conservative leaders — and, especially, Republican elected officials — were more inclined to do so.

Read more . . .

Istituto Acton in Rome has released the following video statement from Kishore Jayabalan on the persecution of Christians worldwide and threats to religious freedom, previewing the ‘Faith, State, and the Economy: Perspectives from East and West’ conference happening next week.

Poor us. We women are being told we aren’t getting equal pay, and now we’re apparently lagging in confidence. The Atlantic recently published “The Confidence Gap,” saying we not only lack confidence, but it’s an “acute lack of confidence.” We “feel like an imposter” as we do our jobs, we can’t bring ourselves to ask for a raise, we are forever underestimating ourselves.

As my incredibly confident mother would say, “Horse feathers.”

Who are these women? Where are these women? The women I know were raised by confident women, had confident women that taught them, had confident aunts and grandmothers and godmothers who nurtured them. We read Anne of Green Gables and Little House on the Prairie, we studied about Marie Curie and Sally Ride, watched Mia Hamm and Chrissy Evert.

Amy Otto at The Federalist has some suggestions for these poor ladies who’ve lost their confidence. Fear not, Otto says, you can handle things. (more…)

topicAleteia’s Mirko Testa recently interviewed Samuel Gregg about the state’s role in defending religious liberty, the appropriate response of the Church to the growing welfare state, cronyism, and the upcoming conference hosted by the Istituto Acton: ‘Faith, State, and the Economy: Perspectives from East and West.’

What’s John Paul II’s legacy on the connection between limited government, religious liberty, and economic liberty?

[Gregg:] When you live much of your life under Communism, it is bound to accentuate your appreciation of freedom. And religious freedom and economic freedom are essential to limiting the scope and size of the state. Because if the state can take away your religious liberty, it can do anything. Moreover, a government that over-regulates the economy – or even seeks to impose a command economy – effectively undermines people’s freedom in numerous ways. (more…)

Blog author: jballor
posted by on Thursday, April 24, 2014

cittfcSpeaking of Thomas Piketty, here’s a very helpful and revealing interview with Matthew Yglesias, “Thomas Piketty doesn’t hate capitalism: He just wants to fix it.” (HT: PEG)

A few highlights with some comment:

On the need for a historical perspective in economics:

Thomas Piketty: … It’s not only economists’ fault. Historians and sociologists are too often are leaving the study of economic issues to economists. Sometimes nobody does it.
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exile“What is our salvation actually for?”

It’s a question that many Christians neglect to ask or seriously consider, and even for those of us who do, we tend toward answers far too focused on ourselves — our personal well-being, piety, or pathway to heaven.

But what if salvation isn’t just about us? What if it’s about something deeper, wider, and richer?

This is the question at the center of For the Life of the World: Letters to the Exiles, a newly released 7-part series from the Acton Institute that seeks to examine the bigger picture of Christianity’s role in culture, society, and the world. Guided by storyteller Evan Koons, the documentary includes Acton researchers Stephen Grabill and Anthony Bradley, as well as other powerful thinkers and doers such as Amy Sherman, Tim Royer, John Perkins, and upcoming Acton University speaker, Makoto Fujimura.

The series is debuting nationally at this week’s Q Conference in Nashville, where Anthony Bradley is giving a related talk on “Life in Exile: How Do We Practice Being a Counterculture For the Common Good?”

Watch the trailer below:

“We are strangers in a strange land,” explains Stephen Grabill, yet “we are meant to make something of the world.” Our salvation is not about holding God’s gifts for ourselves, but rather, about being gift-givers to all and for all. Salvation is for the life of the world. (more…)

Blog author: jcarter
posted by on Thursday, April 24, 2014

Christopher Dawson’s Economic Blindness
John Zmirak, Intercollegiate Review

Dawson warns that the bourgeois spirit is a vampire which must be staked straight through its heart, and he summons as alternatives other spirits he finds more wholesome.

How the ACA Could Collapse
Amity Shlaes, National Review

Court cases involving religion have a way of stopping big social legislation.

What’s Actually Good for the Environment May Surprise You
Amy Payne, The Foundry

Thanks to years of empty promises from the Left, politicians in Congress and the White House have installed all sorts of harmful policies that block energy production, jobs, and economic growth.

Mission as Culture Formation
Dale M. Coulter, First Things

The very existence of the calendar reminds Christians that, as Robert Louis Wilken put it, “Christianity is a culture-forming religion.”

Acton Institute, Director of Research, Samuel GreggAs we approach our upcoming April 29th Conference in Rome “Faith, State, and the Economy: Perspectives from East and West“, Acton’s Research Director, Samuel Gregg shares his insights on the relationship between religious and economic liberty and the threats society now faces. Gregg also discusses where he thinks places like Europe and America are heading, as well as what some of the guest speakers will talk about during the conference.

PowerBlog: Why is the Acton Institute’s upcoming April 29th Conference in Rome “Faith, State, and the Economy: Perspectives from East to West” so important and timely?

Samuel Gregg: Religious liberty is obviously an enormous issue today for Catholics as well as other Christians. The sheer number of people who are being killed each year because of their Christian faith should be disturbing for everyone.

What’s often missed, however, is how diminutions in religious freedom affect other liberties, including economic freedom, and vice-versa. Taking away or severely limiting people’s economic liberty because of their religion has been a classic means by which governments have tried to indirectly undermine people’s attachment to their faith. This was one of the tactics used by the government of Queen Elizabeth I against Catholics in England in the sixteenth century, and, I would add, rather successful. And whether it is in the West, the Middle East, or East Asia, we can see this and others patterns emerging in subtle and sometimes not so subtle ways. (more…)

crony-capitalismPoliticians don’t come cheap. To buy one’s influence you generally need deep pockets, which is why crony capitalism tends to be the domain of “big business.” But a recent article in Slate by California restaurateur Jay Porter shows that some small business owners dream of being cronies too.

Cronyism occurs when an individual or organization colludes with government officials to create legislation or regulations that give them forced benefits they could not have otherwise obtained voluntarily. Those benefits come at the expense of consumers, taxpayers, and everyone working hard to compete in the marketplace.

Not all legislation that affects businesses and consumers is promoted by cronies. But cronies almost always attempt to hijack such legislation. Take, for example, minimum wage increases. As I’ve noted before, both sides of the debate tend to believe they are arguing in defense of the poor. But some people don’t really care about how minimum wage affects the poor – they care about how it affects their bottom-line.

Porter is a prime example of a crony who unapologetically supports raising the minimum wage because it would benefit his business:
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