Category: Economic Freedom

Dylan Pahman
posted by on Wednesday, February 20, 2013

According to Daly, Soviet government sought to dictate every aspect of life in the name of the common good, including the indexing of Soviet publications by libraries. He writes, “[I]f Soviet publications failed to end up in libraries, then, as Lenin railed, ‘we have to know precisely whom to imprison.’”

In the Winter-Fall 2012 issue of Modern Age (54, nos. 1-4), Jonathan Daly contributes a helpful exploration of what happens when desire for the common good goes bad. His article, “Bolshevik Power and Ideas of the Common Good,” focuses on the disastrously ill-conceived effort by the Russian revolutionaries to promote the common good through their self-proclaimed “revolutionary dictatorship of the proletariat.”

Daly contends, “The horrors of Bolshevik governance stemmed directly from their repudiation of the precious fruits of Western political thought.” It is a classic example of the tendency of some to promote cheap moralisms while ignoring the empirical realities of any given context, what then Joseph Cardinal Ratzinger termed in 1985, “the antithesis of morality.” In addition to fostering mass suspicion, starvation, and ultimately a despotic police state in Russia, the Bolsheviks also have the blood of literally millions on their hands, Orthodox Christians as well many Roman Catholics, Protestants, Jews, and others—the rotten fruit of their noble quest for the common good. Read more on Check Your Rhetoric: What Common Good?…

Bruce Edward Walker
posted by on Wednesday, February 20, 2013

King Louis XIV censored Moliere’s 1664 play Tartuffe after determining audience members might too easily confuse the titular priest’s hypocritical nature with every priest in real life. According to the king, some priests’ “true devotion leads on the path to heaven,” while others’ “vain ostentation of some good works does not prevent from committing some bad ones.”

The king’s judgment in many ways also describes individuals who pursue their religious vocations while simultaneously championing secular causes such as proxy shareholder resolutions. This leads to more of the same kind of confusion that King Louie was worried about. Coming from the other direction, groups that recruit nuns, priests, and other religious and clergy to promote these resolutions under the pseudo-spiritual guise of “corporate social responsibility” and “social justice” aren’t being clear about intended objectives. The aim of all this is not salvation of the soul, but political organizing.

While Tartuffe deceived his hosts’ willfully, those proxy shareholders who belong to religious orders may or may not be unwittingly promoting such secular resolutions as, for example, bans on hydraulic fracturing that have nothing to do with their vows. As for the secular groups who join them, could it be possible they even more resemble Moliere’s priest by seeking grace on the cheap when they deploy religious, nuns and clergy to assist in the promotion of proxy resolutions?

And at what point do these faithful cease advocacy of spiritual matters and become mere secular activists?
Read more on Vice, Virtue, and Shareholder Activism…

Ray Nothstine
posted by on Tuesday, February 19, 2013

Coolidge and pitching great Walter Johnson.

Coolidge and pitching great Walter Johnson.

Calvin Coolidge is ripe for national recognition and his wisdom is being sought out perhaps now more than ever. If you’re a voracious reader of commentary and columns you’ve noticed his common sense adages are being unearthed at a rapid pace. Most of the credit and recognition for the Coolidge revival goes to Amity Shlaes. Her newly released and splendid biography Coolidge can’t be recommended enough. (Full review on the PowerBlog forthcoming)

Read more on Calvin Coolidge: A Rare Kind of Hero…

On January 31, the Interfaith Center on Corporate Responsibility issued a press release, announcing the organization’s “2013 Proxy Resolutions and Voting Guide.” A quick read of the release and ancillary materials, however, reveals that these resolutions have very little to do with issues of religious faith and everything to do with the progressive political agenda.

The ICCR guide “features 180 resolutions filed at 127 companies” that call on shareholders to “promote corporate responsibility by voting their proxies in support of investor proposals that advance social, economic and environmental justice.”

The ICCR boasts that “nearly one third” of this year’s resolutions (52) focus on lobbying and political spending, with the remainder aimed at “health care, financial and environmental reform.” The release ominously asserts: “Shareholders have a right to know whether company resources are being used to impact elections and public policy, including regulatory legislation.”

Whatsoever the ICCR resolutions have to do with the respective tenets of their member denominations is left to the readers’ imagination. Read more on How Far Does Faith-Based ‘Shareholder Right to Know’ Go?…

Today at Ethika Politika, I explore the prospects for a renewed embrace of the Christian spiritual and ascetic tradition for ecumenical cooperation and the common good in my article “With Love as Our Byword.” As Roman Catholics anticipate the selection of a new pope, as an Orthodox Christian I hope that the great progress that has been made in ecumenical relations under Pope John Paul II and Pope Benedict XVI will continue with the next Roman Pontiff.

In addition, I note the liturgical season: “The calling of Lent, for Christians of all traditions, reminds us of the ascetic heart of the Gospel way of life.” I continue to say,

Indeed, how many of our social problems today—poverty, violence, abortion, etc.—would benefit from such personal and relational love? We cannot view such problems with regard to statistics and policies alone (though we ought not to ignore them). On a much deeper level, they show us the suffering of persons in crisis who need the love of those who live a life of repentance from past sin and striving toward the likeness of God, the “way toward deification.”

I have commented in the past on the PowerBlog with regards to asceticism and the free society, but here I would like to explore the other side of the coin. We ought to embrace the radical way of love of the Christian tradition when it comes to the social problems of our day, but as I note above, we ought not, therefore, to ignore statistics and policies.

In his 1985 article, “Market Economy and Ethics,” then Joseph Cardinal Ratzinger writes, “A morality that believes itself able to dispense with the technical knowledge of economic laws is not morality but moralism. As such it is the antithesis of morality.” Heeding this warning means uniting good intentions and sound economics.

Failure to do so, despite having the right intentions and even the right morals, can lead to great error and unintended, harmful consequences. It reminds me of two passages from the readings for the past weekend’s Acton/Liberty Fund Liberty and Markets conference that I had the opportunity to attend. Read more on Sharpening the Weapon of Love: From Moralism to Morality…

During the State of the Union address President Obama suggested that having a minium wage was a moral issue. In the speech he said:

not-hiring2Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong. That’s why, since the last time this Congress raised the minimum wage, nineteen states have chosen to bump theirs even higher.

The President believes that it is a moral wrong for any full-time worker, regardless of what the job is, how much the job is worth, etc., should be able establish a home for a family of four. To solve this problem the President announced:

Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9.00 an hour. This single step would raise the incomes of millions of working families. . . . For businesses across the country, it would mean customers with more money in their pockets. In fact, working folks shouldn’t have to wait year after year for the minimum wage to go up while CEO pay has never been higher. So here’s an idea that Governor Romney and I actually agreed on last year: let’s tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on.

I probably sound like a broken record, beating the same drum, but if you were a minority or teenager raising the minimum wage to $9 per hour is not what you wanted to hear. Here’s why as I stated back in 2006:
Read more on The President’s $9 Path to Increasing Minority and Teen Unemployment…

Reflecting on the pontificate of Pope Benedict XVI, Philip Booth, professor at Cass Business School in London, says the pope was clear on his economic ideas.

As he said in Caritas in Veritate: “Economy and finance, as instruments, can be used badly when those at the helm are motivated by purely selfish ends. But it is man’s darkened reason that produces these consequences, not the instrument per se”. In other words, credit derivative swaps are not evil, but those who abuse them might be.

Read more on Pope Benedict: The Capitalist System is Virtuous…

Anthony Bradley
posted by on Friday, February 8, 2013

After decades of bloody turmoil between Protestants and Catholics in Northern Ireland, on March 26, 2007, Ian Paisley and Gerry Adams, sitting side-by-side at Stormont confirmed that power-sharing will return to Northern Ireland on May 8th of that same year. It was supposed to be a “new era.” Unfortunately, in order for Ireland to recover from decades of a very complicated history it needs a growing economy. Northern Ireland’s economy is in steep decline because it remains such a high-taxed welfare state.

For example, jobless remains at extremely high levels. The BBC reports that between June and August of 2011 8.1% of the population were unemployed. In fact,

Over the year, the number of people claiming unemployment benefit has increased by 4.8%, to 63,400, while in the UK as a whole the figure has fallen by 1.4%. A large proportion of the unemployed are young people, with 21.1% of those between aged between 18 and 24 now unemployed, up 3.0% over the year.

Northern Ireland also has high minimum wage rates—about $7.87/hr for workers 18-20 years-old—and a ridiculous corporate tax rate of 24%. This “one-two punch” does nothing but discourage the starting of new businesses, foreign direct investment, and provide incentives for companies not to hire young people. The Central Bank of Ireland, in a moment of common sense, now believes that maybe, just maybe, high corporate taxes stifle job creation. According to the BBC,
Read more on Northern Ireland: Coming to America?…

Joe Carter
posted by on Friday, February 8, 2013

In this abridged version of the video series Economics for Everybody, R.C Sproul Jr. explains why it’s important for Christians to understand economics. Economics Has Consequences pulls together some of the key aspects of the original series into one film, including introductions to such basic principles of economics as stewardship, civil government, work, wealth, and entrepreneurism. The second section explores the impact of government intervention on education, the money supply, welfare, depressions, markets, and more.

Read more on Economics Has Consequences…

Dylan Pahman
posted by on Thursday, February 7, 2013
No more credit card offers on Saturdays....

No more credit card offers on Saturdays….

Regarding the USPS decision Wednesday to stop Saturday mail delivery, Ron Nixon at the New York Times writes,

The post office said a five-day mail delivery schedule would begin in August and shave about $2 billion a year from its losses, which were $15.9 billion last year. The Postal Service would continue to deliver packages six days a week, and post offices would still be open on Saturdays. Reducing Saturday delivery is in line with mail services in several other industrialized countries like Australia, Canada and Sweden, which deliver five days a week.

This move has not come without opposition, however. Nixon continues,

Read more on Privilege: The Real Postal Problem…

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