Archived Posts 2009 - Page 7 of 64 | Acton PowerBlog

Kishore Jayabalan, Director of Acton’s Rome office, was asked by Vatican Radio to comment on the debt crisis in Dubai that has been causing concern in world financial markets over the last week. To listen, use the audio player below.

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A blessed Thanksgiving to PowerBlog readers.

[New York, 3 October 1789]

By the President of the United States of America, a Proclamation.

Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor– and whereas both Houses of Congress have by their joint Committee requested me to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.

Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be– That we may then all unite in rendering unto him our sincere and humble thanks–for his kind care and protection of the People of this Country previous to their becoming a Nation–for the signal and manifold mercies, and the favorable interpositions of his Providence which we experienced in the course and conclusion of the late war–for the great degree of tranquility, union, and plenty, which we have since enjoyed–for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted–for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.

And also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions– to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually–to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed–to protect and guide all Sovereigns and Nations (especially such as have shewn kindness unto us) and to bless them with good government, peace, and concord–To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and us–and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.

Given under my hand at the City of New York the third day of October in the year of our Lord 1789.

Blog author: jwitt
Wednesday, November 25, 2009

Got the socialism blues? Worried that a friend or maybe a teenage son or daughter may contract a nasty case of it? Marvin Olasky at World magazine recommends former Acton research fellow Jay Richards’ 2009 HarperOne book, Money Greed and God: Why Capitalism Is the Solution and not the Problem:

Among the myths Richards demolishes: The Nirvana Myth (contrasting capitalism with an unrealizable ideal rather than with its real alternatives), the Piety Myth (focusing on good intentions rather than results), and the Materialist and Zero-Sum Game Myths (believing that wealth is not created but simply transferred).

Richards, one of that rare breed with a theology doctorate but an understanding of economics, also points out the errors of the Greed Myth (believing that the essence of capitalism is greed), the Usury Myth (that charging interest on money is immoral), and the Freeze-Frame Myth (that what’s happening now regarding population, income, natural resources, or so on, will always happen).

Want to administer some of the immunizations in delicious DVD form? Try a high-quality, narrative-driven Acton documentary that was irenic enough to air on scores of PBS stations around the country but with enough red meat to also air on Fox Business: The Call of the Entrepreneur shows why entrepreneurs and capitalism are part of the solution, and why socialism delivers the opposite of what it promises. The story of Jimmy Lai–the boy who escaped Communist China, founded a media empire, and confronted the Chinese leaders behind the Tiananmen Square Massacre–is alone worth the price of admission.

It’s ironic – and tragic – that as the world celebrates the twentieth anniversary of Communism’s defeat in Europe, the comic-opera that is Hugo Chavez’s “21st century socialist” Venezuela is descending to new lows of absurdity. Beneath the buffoonery, however, there’s evidence that life in Venezuela is about to take a turn for the worse.

By buffoonery, I mean President Chavez’s decidedly weird statements of late. These include threatening war against Columbia, advising Venezuelans that it is “more socialist” to shower for only three minutes a day, telling his fellow citizens to eat less because “there are lots of fat people” in Venezuela, eulogizing convicted murderer Carlos the Jackal as “a revolutionary fighter”, defending Zimbabwean dictator Robert Mugabe as a “brother”, and wondering whether Idi Amin was so bad after all.

It’s not unusual for Latin American caudillos to say things that suggest a growing detachment from reality. The truth, however, is that for all Chavez’s eccentricities, it would be a mistake to dismiss these comments as nothing more than egomaniacal ravings. (more…)

Acton Institute President Rev. Robert A. Sirico joined host Dennis O’Donovan this morning on Religion, Politics and the Culture on WLVJ in south Florida for a wide ranging, hour-long discussion on health care reform and the US Conference of Catholic Bishops’ role in the debate, among other topics. You can listen to the interview by using the audio player below.

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Giancarlo Ibárgüen, President of Universidad Francisco Marroquín in Guatemala City, Guatemala, received the institute’s first Guardian of Freedom Award in a ceremony at the university’s campus on Nov. 16. More than 250 guests attended the award ceremony including the presidents of leading free market institutions such as the Atlas Economic Research Foundation, the Cato Institute, Liberty Fund Inc., the Fund for American Studies, the Foundation for Economic Education, and the Acton MBA Program in Entrepreneurship.

Rev. Robert Sirico, Dr. Alejandro Chafuen, Jeff Sandefer and Giancarlo Ibárgüen at the Award Ceremony
Rev. Robert Sirico, Dr. Alejandro Chafuen, Jeff Sandefer and Giancarlo Ibárgüen at the Award Ceremony

Rev. Robert Sirico presented the award sculpture and citation to Giancarlo stating “The Acton Institute proudly recognizes your outstanding commitment to the principles of freedom and the vital importance of your mission as you educate a new generation of men and women striving to live a life marked by a dedication to liberty and graced by the dignity of responsibility.”

Giancarlo’s emotion came through in his remarks. “I am overwhelmed… I just want to repeat that I am overwhelmed and I am very, very thankful with Father Sirico and Kris Mauren who have organized this wonderful event. This recognition that I take not as a personal recognition but as a recognition to those who have come before me at this wonderful institution.” He also thanked the team at UFM saying “I think the applause should be for them because it is really an extraordinary team.” Giancarlo concluded with some words of appreciation for his family, for Jeff Sandefer, and for the guests who came to the celebration.

The event’s program also included remarks from Edward Crane from Cato, Mary Anastasia O’Grady from The Wall Street Journal, Chris Talley and Allan Russell from Liberty Fund, Manuel Ayau from Universidad Francisco Marroquín and Jeff Sandefer from the Acton MBA Program in Entrepreneurship.

The Guardian of Freedom Award was created by Acton, in commemoration of the 20th anniversary of the fall of the Berlin Wall, in order to recognize the ongoing contributions of leaders who have demonstrated an outstanding commitment to liberty.

Mary O’Grady, Edward Crane, Dr. Emilio Pacheco and Lawrence Reed during the Q&A session of the first panelMary O’Grady, Edward Crane, Dr. Emilio Pacheco and Lawrence Reed during the Q&A session of the first panel

Acton also hosted “The Progress of Freedom” conference at the UFM campus on that same day. About 400 participants joined the conference as two panels of experts analyzed the last 50 years of freedom and the challenges ahead.

Participants included:

  • Alejandro A. Chafuen– Atlas Economic Research Foundation
  • Edward H. Crane — Cato Institute
  • Mary Anastasia O’Grady — Wall Street Journal
  • Emilio J. Pacheco — Liberty Fund, Inc.
  • Roger R. Ream — Fund for American Studies
  • Lawrence W. Reed — Foundation for Economic Education
  • Jeff Sandefer — Acton MBA Program in Entrepreneurship
  • Rev. Robert A. Sirico — Acton Institute

About Giancarlo Ibárgüen
Giancarlo Ibárgüen has been President of Universidad Francisco Marroquín since 2003. A university trustee, he has been a member of its board of directors since 1992, serving as secretary general (provost) from 1995 to 2003. His memberships include the Centro de Estudios Económicos Sociales (CEES), the Association of Private Enterprise Education, the Mont Pelerin Society, and the Philadelphia Society. He is a board member at Liberty Fund and currently serves as financial advisor to various industrial, commercial and software companies. He was a member of the board of the Asociación de Gerentes de Guatemala and the editorial board of Gerencia magazine from 1992 to 1994. He was founding president of the grass-roots Asociación por el Poder Local (APOLO) in 1991, and a founding collaborator of the philosophical magazine Intuición. His articles on economics and telecommunications have appeared in Libertas (Argentina), Telecommunications Policy (Great Britain), the website of the International Telecommunication Union (ITU), and the Social Science Research Network (SSRN) eLibrary. His editorials have been published in Guatemala’s daily Siglo Veintiuno and in various international publications including The Wall Street Journal. Giancarlo holds a B.S. in electrical engineering from Texas A&M University. He has been married to Isabel Dougherty since 1983 and has three children.

Blog author: jballor
Wednesday, November 25, 2009

Some of the aspects of the movement in ‘new economics’ highlighted by Sumita Kale sound quite promising. For instance, it is true that “many issues of economic policy (traditionally called ‘welfare economics’) are primarily ethical-economics in nature, and should be informed by moral philosophy rather than economics in isolation.” The growing conversation between economics and other disciplines, specifically moral philosophy and theology, is most welcome.

Indeed, some of the principles animating the work of the Cambridge Trust for New Thinking in Economics sound similar notes: “economic behaviour is influenced by aesthetic and ethical values as well as economic values.”

But when we drill down to the objectives of the Trust and look at some of the other principles, it becomes clearer that what is “new” about “new economics” is that economic research is pursued with an overtly and explicitly socio-political agenda: “It is vital that two social problems be solved. The first is the obvious degradation of the planet and its atmosphere by over-consumption and over-production through the exploitation of resources in pursuit of monetary gain. The second problem is the toxic pollution of the global money supply, also obvious, caused by financial practices over the past twenty years, led by the investment banks of Wall Street and the City of London.”

What we have here is economics as social engineering, providing norms for behavior rather than describing it. “New” economics (traditional economics with just a dash of moral philosophy thrown in) becomes a prescriptive rather than a descriptive discipline, and therefore simply one more voice among many clamoring for dominance in the legislative process.