Archived Posts October 2009 » Page 3 of 3 | Acton PowerBlog

“The Deal Professor,” Steven M. Davidoff, has a good piece at The New York Times website about the indispensability of finance to our economy. It briefly rebuts the view popularized in the Oliver Stone movie Wall Street, in which financiers are portrayed as greedy parasites. I left a comment at the web page, noting that our documentary The Call of the Entrepreneur makes a similar case. I include the comment below, since it may not pass muster with the page’s comment moderator:

A documentary that explores the wealth-creating role both of the entrepreneur simpliciter and the finance entrepreneur in particular: The Call of the Entrepreneur. The film appeared on more than 80 PBS affiliates nationwide, including repeated airings in several major markets. And in what may be a first, it appeared both on PBS and Fox Business. I mention this by way of reassuring readers that the documentary isn’t screechy.

The one-hour film is a combination of narrative and expert commentary that many have found useful for explaining what entrepreneurs and merchant bankers bring to the economy, a particularly useful explanation for friends and family who wouldn’t read a lengthy article or book on the subject but will watch a documentary with high production values. It doesn’t pretend that there isn’t corruption or greed on Wall Street, but it does insist that these elements do not provide a full picture.

Full disclosure: I wrote the script for the documentary and am a fellow of the institute that created the film, The Acton Institute. The film is available at calloftheentrepreneur.com/. Also, the film doesn’t address the market distortions generated by Alan Greenspan and others, distortions that encouraged excesses in the financing world leading up to the economic crisis. Those issues are tackled at our web page on the economic crisis: acton.org/issues/economy.php/.

— Jonathan Witt

Blog author: jballor
posted by on Wednesday, October 7, 2009

From the vision of the New Jerusalem in Revelation 21 to Augustine’s City of God, the civitas is an enormously pervasive and rich biblical and theological theme. On the contemporary scene there area number of indications that evangelicals are looking more deeply and critically at engagement with the “city” as a social, political, ethical, and theological reality. This is part of the explicit vision of The King’s College in New York City, for instance, where Acton research fellow Anthony Bradley is currently a visiting professor of theology. At Houston Baptist University, the publication aptly named The City, “featuring leading voices in Christian academia and elsewhere on the critical issues of the times.”

North of the border, the Canadian think-tank Cardus has long examined the issues surrounding Christian cultural engagement, particularly within the dynamic matrix of what we call “cities.” Recently Cardus published critical perspectives from Darryl Hart and Nelson Kloosterman, “The Gospel and the City: What’s a Believer To Do?”

For a number of years now the Acton Institute has produced specialized conferences focused on the more specialized call to move “Toward a Free and Virtuous City.” The most recent installment of the “City FAVS” took place last month in Weehawken, New Jersey, and featured Dr. Bradley, Rudy Carrasco, Acton president Rev. Robert A. Sirico, and Michael Lee of Georgetown University.

As the Lord said to Jonah of that ancient capital, “But Nineveh has more than a hundred and twenty thousand people who cannot tell their right hand from their left, and many cattle as well. Should I not be concerned about that great city?”

drdog-2In August, the Wall Street Journal Europe published an article exploring the difference in health care received by domesticated animals and humans. (see “Man Vs. Mutt: Who Gets the Better Treatment?” in WSJ Europe, August 8, 2009) The editorialist, Theodore Dalrymple (pen name for outspoken British physician and NHS critic, Dr. Anthony Daniels) argued that dogs and other human pets in his country receive much better routine and critical healthcare than humans: their treatment is “much more pleasant than British humans have to endure.”

Dalrymple outlines just why this is so: pets in the U.K. actually have it better than their owners since: a) they receive immediate treatment with no waitlists or postponed operations “(and) not because hamsters come first”; b) there is no fear that somehow they are being denied the proper treatment for economic reasons: there is “no tension, no feeling that one more patient will bring the whole system to collapse…; (no one is) terrified that someone is getting more out of the system than they.”; and c) pets in veterinary facilities have more options and flexibility for choosing a healthcare practitioner: “if you don’t like him, you can pick up your leash and go elsewhere.”

British humans, on the other hand, have to deal with navigating the rapids and swells of NHS bureaucracy, which requires the skills of a “white-water canoeist”. They must also endure interminable wait-times for prostheses and life-improving operations. Often they receive sub-standard administrative services, nursing assistance and meal provisions.

As President Obama continues to promote a Europeanization of the American healthcare model, the WSJ Europe editorialist beckons us to listen to such howling in the twilight of the Old Continent’s rapidly aging nationalized healthcare systems. Part of this howling is caused in the less dignified forms of public health services and treatment of human patients. Yet, there is plenty of loud barking over the mismanagement and abuse within nationalized healthcare across Western Europe, particularly in terms of mishandling budgets and sources of revenue. (more…)

This week’s Acton commentary looks at the trend by many in the charitable sector to become increasingly reliant on government support. Sign up for the free, weekly Acton News & Commentary newsletter in the form here (right hand sidebar).
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The independence of American charities has steadily eroded in recent years as more philanthropic institutions have come to see their mission as one of partnership or collaboration with the government. That’s a nice way of saying, “seeking government dough.” Now, in the throes of a severe economic crisis and budget cutbacks at state and local levels, many charities are in a panic about reduced levels of funding. Anyone with eyes to see could have seen this coming.

A recent report in The Chronicle of Philanthropy spoke of a California budget crisis where “charities there are braced for steep cuts to social services and health care.” In Chicago, one manager of a children’s home said, “We’ve never seen the likes of this.”

The growing dependence of many charities on government support has been accelerated by the federal government’s funding, over several recent administrations, of charitable organizations for managing various social service programs. This funding, its supporters argue, gives private initiative the resources it needs to accomplish good works — with a little extra help from the government. But at what cost? (more…)