Category: News and Events

Because jobs can serve the needs of our neighbors and lead to human flourishing both for the individual and communities, they are the most important part of a morally functioning economy. Workers dropping out of the labor force because they’ve grown discouraged is therefore one of the most pressing moral and economic issues in America today. Sadly, it is also one of the most overlooked.

Today, the Republicans on the Senate Budget Committee released some stats showing the shocking decline in the male participation in the labor force, particularly men between the ages of 25-54:

Record 1 In 8 American Men In Their Prime Working Years Are Not In The Labor Force_0.preview

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According to the committee members:

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The Acton Institute is proud to sponsor the latest symposium in Econ Journal Watch: “Does Economics Need an Infusion of Religious or Quasi-Religious Formulations?”

EJWEJW editor Daniel B. Klein introduces the theme in a fine Prologue, in which he writes, “our focus is the enrichment of economics: Is economics suffering from an undue flatness? If so, why is that happening? If economics needs an infusion of richer concepts, what are some of the richer concepts? Also, if economics needs an infusion, for what purposes is it that such infusion is needed? What purposes is economics trying, but failing, to serve, because it lacks richer concepts?”

Robin Klay of Hope College and an executive board member of our own Journal of Markets & Morality opens the symposium with a survey of the landscape on these questions with her contribution, “Where Do Economists of Faith Hang Out? Their Journals and Associations, plus Luminaries Among Them.”

EJW has put together another 17 response essays, in which luminaries in their own right weigh in on the theme from a variety of religious and methodological perspectives. Browse this issue of EJW and download the entire issue for your own perusal as well.

And for more reflection on the intersection of theology and economics, be sure to check out the Journal of Markets & Morality. The archived issues are open access, and to get the latest two issues in either digital or hardcopy format, you can get a subscription for yourself or recommend it to a colleague or institutional library. Last month I also lectured at the Henry Center at Trinity Evangelical Divinity School on “A Match Made in Heaven: Why Theology and Economics Need Each Other,” with a substantive and engaging response and discussion afterwards with Stephen Long of Marquette University.

Actress-Journalist America Ferrera

Actress-Journalist America Ferrera

A bit of honesty, please. The premium network Showtime is airing an original series, The Years of Living Dangerously, which pits such intrepid reporters as Hollywood B-list hotties Jessica Alba, Olivia Munn and America Ferrera against climate-change “deniers.” The May 19 episode featured Ms. Ferrera attempting to grill The Heartland Institute’s James Taylor (full disclosure: Taylor is a professional colleague and cigar buddy) on his efforts to roll back renewable energy standards on a state-by-state basis. On this, more below.

In the meantime, clergy, nuns and other religious shareholders are rending their respective garments over lobbying and political contributions performed by companies in which they invest. Never mind the religious shareholders directly benefit from corporate lobbying and political donations, what really matters to them is whether the companies’ efforts kowtow to the progressive agenda.

Witness the following religious groups and their 2014 shareholder resolutions submitted to the following companies: (more…)

indexActon’s Director of Research, Samuel Gregg, recently wrote an article at Aleteia about the recent Great Recession and Former president of the Federal Reserve Bank of New York and Treasury Secretary Timothy Geithner’s book, Stress Test: Reflections on Financial Crises. Gregg begins by noting that economists and historians are still speculating about the causes of the Great Depression and doesn’t doubt that similar debates will occur about more recent economic decline. He says, “it’s not surprising that some of those who were closets to the policy epicenter of the maelstrom are anxious to get their version of events on the record” and it’s hardly surprising that now Geithner is talking about it. Gregg continues:

Stress Test is written in the regrettably chatty, forced-informality manner of too many memoirs by politicians and public officials in our age of excessive casualness, selfies, and perpetual adolescence. For all that, however, Geithner does make a sincere effort to explain himself and his actions — even if his account won’t convince everyone.

Judging from this text (but also from other books written on the financial crisis by other players), Geithner comes across as an intelligent, decent man who found himself dealing with incredibly difficult problems in an environment full of Zeus-sized egos inside the self-referential bubble of Washington, D.C. “I wasn’t,” he writes, “a banker, an economist, a politician, or even a Democrat” (1). Indeed Geithner stresses over and over again his independence. The Left, according to Geithner, saw him as “Wall Street’s wingmen” while Wall Street thought he and others were “Che Guevaras in suits” (20). (more…)

AllamericanArmy and Navy have met for battle on the football field 114 times. The two service academies have played big time college football for well over a century. Navy leads the series by nine games and holds the current and longest winning streak at 12 games. Army hasn’t won since quarterback Chad Jenkins led the Black Knights to a 26-17 victory in 2001. That game was played just a few months after 9/11 and many of those on the field would soon lead men in combat and a few would make the ultimate sacrifice.

In All American: Two Young Men, The 2001 Army-Navy Game and The War They Fought in Iraq , author Steve Eubanks tells the story of Chad Jenkins (Army) and Brian Stann (USMC) on the gridiron and their multiple combat deployments to Iraq. The patriotic fervor that swept the nation after 9/11 was extended to the football field, as Army and Navy were wildly celebrated and cheered by opposing fans and teams.

The game in 2001 had raucous pregame speeches from General Norman Schwarzkopf for Army and Senator John McCain for Navy; both men are alumni of the service academies in the military branches they served. Eubanks does a superb job of capturing the emotion and meaning of the game for the cadets and midshipmen. Everybody understood that after graduation, many of these young men would soon be sent to the field to fight and sacrifice in defense of their country. (more…)

A couple of interviews to bring you up to speed on from that last couple of days:

First of all, here’s Acton Director of Research Samuel Gregg on the GRN Alive morning show on the Guadalupe Radio Network this morning to discuss current efforts to raise the federal minimum wage, giving his analysis on the likely impact of such a move on the economy and the job market.

And from yesterday, here’s Acton co-founder and President Rev. Robert A. Sirico with host Mike Rosen on The Mike Rosen Show on 850 KOA in Denver, Colorado, to discuss Pope Francis’ recent comments to United Nations officials, which included remarks on “legitimate redistribution of economic benefits by the State.” Rosen and Sirico speak extensively about Catholic teaching on economics, and about the misleading nature of the term “trickle-down economics.”

kuyper12In Guidance for Christian Engagement in Government, a translation of Abraham Kuyper’s Our Program, Kuyper sets forth an outline for his Anti-Revolutionary Party.

Founded by Kuyper in 1879, the party had the goal of offering a “broad alternative to the secular, rationalist worldview,” as translator Harry Van Dyke explains it. ”To be “antirevolutionary” for Kuyper, Van Dyke continues, is to be “uncompromisingly opposed to ‘modernity’ — that is, to the ideology of the French Revolution and the public philosophy we have since come to know as secular humanism.”

Greg Forster has compared the work to Edmund Burke’s response to the French Revolution, calling it “equally profound and equally consequential.” And indeed, though written nearly a century later and set within a different national context, Kuyper’s philosophy aligns remarkably close with that of Burke’s.

The similarities are most notable, perhaps, in the area of social order. Kuyper expounds on the subject throughout the book, but in his section titled “Decentralization,” his views on what we now call “sphere sovereignty” sound particularly close to Burke’s, though rather uniquely, with a bit more “Christian-historical” backbone.

Kuyper observes a “tendency toward centralization” among the revolutionaries, wherein “whatever can be dealt with centrally must be dealt with centrally,” and “administration at the lower levels” is but a “necessary evil.” Such a tendency, he concludes, “impels to ever greater centralization as soon as the possibility for it arises.” (more…)

Perelandra (1)One of the primary themes in the Acton Institute’s new series, For the Life of the World, is the notion that “all is gift — that we were created to be gift-givers, and that through the atoning power of Jesus Christ, we are empowered to render our activities, nay, our very lives to God and those around us.

As Evan Koons explains at the end of Episode 1: “All our work in this world is made of stuff of the earth — our families, our labor, our governments and charities and schools and art forms — all of it takes place here below, but all of it is pointed toward heaven.” Or, as he wrote last week: “A life of ‘All is Gift’ has no room for the ‘self-made’ man or woman. We are all edified by the gifts of God and by his gifts reflected in others… ‘All is gift’ recognizes and radiates this truth. Know it or not, we are always fashioning bootstraps for someone else.”

I was therefore a bit struck when I came upon the exact phrase and notion when reading the final chapter of C.S. Lewis’ Perelandra, the second novel in his remarkable Space Trilogy.

Early in the story, Ransom, the chief protagonist, arrives at Perelandra (i.e. Venus), and upon meeting a mysterious lady (“the Queen”), he soon learns that she is an Eve of sorts — innocent and obedient, in all of her pre-Fall-of-Man glory. The human race of Perelandra is still in its earliest stages, without any knowledge or influence of Evil.

The setting is soon disrupted, however, when Weston, an opportunistic scientist from the first novel, arrives on the planet. After spouting a long sermon of overly-spiritualized individualism, Weston is eventually overtaken by what appears to be demonic possession, after which he attempts to lure the Queen toward disobedience to Maleldil (the Creator God), much like the Serpent of old. (more…)

Calvin_Coolidge_and_Israel_Moore_Foster“The Power of the Moral Law” is the title of an address delivered by Calvin Coolidge at the Community-Chest Dinner in Springfield, Massachusetts on October 11, 1921. Published in The Price of Freedom, the text is only available online through Google Books.

Coolidge’s main point in his remarks was to reinforce the truth that it is prosperity not grounded in a deeper meaning that threatens our American Republic. Displaying his conservative thought, he challenges materialism of government interventionists and reminds proponents of business and the market that material success alone is insufficient. True progress must have a deeper foundation.

There are many lines that stand out in his address, but perhaps few stand out more than this simple sentence: “Ideals and beliefs determine the whole course of society.” Currently, we see this playing out powerfully in our culture today. The ideals that have held our Western and American civilization intact for centuries have largely eroded. Ideals and commonly held standards, especially in the academy, are attacked as backwards and oppressive.
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privilege-and-prejudiceStudents attending Harvard’s Kennedy School of Government have a new mandatory class: Checking Your Privilege 101. This is, in part, a response to the conversation started by Princeton’s Tory Fortgang, who wanted to be known by the content of his character rather than the color of his skin (which happens to be white.) Reetu Mody, a master’s degree student is thrilled by the Harvard’s new class and describes it thus:

The substance of the training, while still under discussion, is to prepare students to understand the broad impact of identity on their decision-making and to engage them in constructive tools for dialogue,” Mody says. She likens it to the math classes masters candidates are sent to so they can apply economic theories. “If you don’t have an understanding of sociology, political science, critical race theory, feminist critique, and revisionist history,” Mody warns, “it’s going to be very difficult to talk about certain groups’ experiences, and why these other groups continually have this advantage in society.”

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