Archived Posts July 2013 - Page 14 of 20 | Acton PowerBlog

It’s no secret that the economy of the European Union is, ahem, struggling. But Vikas Bajaj says the global economy is worse than anyone seems to want to acknowledge:global-economic-growth

In a new report released on Tuesday, the International Monetary Fund says that China, India, Brazil, Mexico and other developing countries are growing more slowly than previously thought. That weakness, combined with Europe’s enduring recession and middling growth in the United States, means the global economy will grow at 3.1 percent this year, about the same as last year and down from the I.M.F.’s April forecast of 3.3 percent.

Developing economies are struggling for a variety of reasons. Some, like Brazil and Russia, are hurting because there is less demand for their exports in the United States, Europe and elsewhere. China is trying to reduce its reliance on exports and investments while increasing the importance of domestic consumer spending. Some countries are also under pressure as foreign investors start moving money out of emerging markets to invest it in the United States, where interest rates have risen in recent days.

Bajaj points out that economist have been talking about this for months, but the response has been “a collective shrug” from policy makers. The International Monetary Fund calls for nations’ policymakers to create more robust attempts to stimulate economies, but Bajaj worries: “Is anybody listening?”

Blog author: jcarter
Thursday, July 11, 2013

Artists Learn Art of Business to Brave Tough Economic Times
PBS Newshour

Economics correspondent Paul Solman reports on how artists are learning to fine-tune their entrepreneurial skills in order to help them design their own careers in an unsure economy.

Don’t Forget the Copts in Egypt’s Chaos
Gracy Howard, The American Conservative

The Coptic Pope Tawadros II has complained that Morsi wanted to Islamize the government and ignored the plight of Egyptian Copts, who face escalating persecution since the coup.

Egyptians Want Greater Economic Freedom Before Democracy
Anthony B. Kim, The Foundry

For many ordinary Egyptians, fixing the economy is key. They are demanding a functioning economy that works under the rule of law.

The Four-Chapter Gospel in Our Work
Taylor Barkley, Institute for Faith, Work, and Economics

Creation, fall, redemption, and restoration. How do these concepts show up in our daily work?

Writing for National Review Online, Andrew Doran looks at how Christians have become “convenient scapegoats” and targets of violence for Islamists in Egypt, Iraq, Syria and elsewhere. A consultant for UNESCO at the U.S. Department of State, Doran says that “had the Muslim Brothers not been stopped, they would have continued to radicalize and Islamicize Egypt, further isolating and persecuting their enemies — secularists, liberals, and religious minorities, especially Christians.” More:

The peaceful rising of the Egyptian people against the Muslim Brotherhood and Mohamed Morsi constitutes the first popular overthrow of an Islamist regime in the Middle East. Beyond revolution, it was a restoration of Egypt’s heritage of secular moderation. Had the Muslim Brothers not been stopped, they would have continued to radicalize and Islamicize Egypt, further isolating and persecuting their enemies — secularists, liberals, and religious minorities, especially Christians. Egypt is the largest nation-state in the Arab world, with strong traditions of secular governance and a Christian minority that constitutes approximately 10 percent of the population. That this was the site of the first revolution against an Islamist regime is of inestimable significance, not merely for Egypt but for the Arab world, whose moderates look to Egypt as the standard bearer. If moderation fails in Egypt, it bodes ill for moderates elsewhere.

As Joseph Kassab, a Chaldean Christian and human-rights advocate, has observed, Christians are vital to the Middle East because they are a bridge to the outside world. Without Christians and other minorities, the entire Middle East would soon come to resemble the uniform extremism of Saudi Arabia, perhaps the most brutal and oppressive regime in the world — a state sponsor of extremism, anti-Semitism, and arguably terror. According to Amnesty International, crucifixion still occurs in Saudi Arabia. The fact that such regimes do not advance American interests ought to be self-evident. Apparently it is not.

Read “In Solidarity with Egypt’s Christians” by Andrew Doran on NRO.

Blog author: jballor
Wednesday, July 10, 2013

Photo Credit: youngdoo via Compfight cc

Photo Credit: youngdoo via Compfight cc

In this week’s commentary, “Made to Trade,” I explore the natural dispositions that human beings have to produce, exchange, consume, and distribute material goods.

If you’ve ever noticed that a sandwich made by someone else tastes better than one you make yourself, you’ll know what I’m getting at: “Recognizing the satisfaction that comes from such a gift of service from another person illustrates an other-directed disposition that is a deep and constitutive part of human nature.”

There is a gracious foundation for giving and receiving, whether in the form of gifts and distributions or in exchange. As Benedict XVI writes in Caritas in Veritate, “Gratuitousness is present in our lives in many different forms, which often go unrecognized because of a purely consumerist and utilitarian view of life. The human being is made for gift, which expresses and makes present his transcendent dimension.”

Sometimes I think the ideas of gift and exchange can be too radically distinguished. Benedict describes a gift as something that “by its nature goes beyond merit, its rule is that of superabundance.” The relationship between love and justice, or between charity and merit, is complex and difficult to hold in proper balance. Emphasis of one at the expense of the other leads to errors of antinomianism or legalism.

What is clear, however, is the gracious foundation of all of our economics activities derive from God’s providential ordering. We give, receive, “truck, barter, and exchange,” as a manifestation of the constitutive sociality of our human nature, created in God’s image, male and female.

2940044212701_p0_v1_s260x420How should Protestant Christians think about faith, work, and economics? To help answer that question, the Acton Institute commissioned a series of primers about political economy and the church from four faith traditions: Baptist, Wesleyan, Pentecostal, and Reformed (forthcoming).

Chad Brand, the author of the Baptist primer, Flourishing Faith, was recently interviewed about the book and asked, “What is a Baptist political economy?”

What political economy describes is the interface between government and whatever economic system prevails in a given nation or culture. The political economy in the Soviet Union in the 1980s was a communist state with a socialist understanding of economics — a controlled-market economy. The United States was basically founded as a republic with a free market economy.

So when we introduce the idea of a Christian, and specifically Baptist, political economy, what we’re asking is, “How does the church rub itself up against a free market republic?” “How does a Baptist understanding of theology and ecclesiology interface with that.”

Because Baptists have long held the idea of religious freedom, political freedom, individual freedom and so on, the place where a Baptist political economy most manifests itself is in a kind of republican or libertarian form of economics. “Laissez faire” isn’t in the Baptist Faith and Message, but if you read and believe its statements on government and anthropology, I think you would come to the same conclusion that the government that governs least, governs best.

The notion of political economy has been around for quite some time — the first professor of political economy was a guy by the name of Thomas Malthus at the University of Oxford in about 1815 — but it hasn’t edged its way into evangelical circles until fairly recently.

Read more of the interview here and a review of Flourishing Faith here.

Blog author: jballor
Wednesday, July 10, 2013

bernardusJonathan Merritt reports on a decision made by the parent company that produces Samuel Adams beer, Boston Beer Company, to redact “by their Creator” from an Independence Day ad featuring the Declaration of Independence. As Merritt writes, “We have arrived at a time in our history where some people are so offended by even the idea of God that they can’t bear to speak God’s name or quote someone else speaking God’s name. Worse yet, they have to delete God’s name from the Declaration of Independence to make a point.”

My friend Will Hinton rightly identifies the company’s defense of its decision for the fig leaf that it is:

“We adhere to an advertising code, established by the Beer Institute – a beer industry trade organization – that states, ‘Beer advertising and marketing materials should not include religion or religious themes’,” according to a statement provided by a Boston Beer Company spokeswoman. “We agree with that, and we follow these guidelines and approach our marketing with the utmost responsibility.”

As Will points out, brewing has a rich religious history, and many of the most popular specialty brews are branded with religious themes. Here are those produced by members of the Beer Institute he highlights: Bell’s Christmas Ale; Ommegang Abbey Ale; Marin Brewing Co. Witty Monk; Marin Brewing Co. Altar Boy; New Belgian Abbey Ale; New Belgian Lips of Faith. It is true that there is such a code and that point 7 reads as the spokeswoman declares. Right after point 6, “Beer advertising and marketing materials should not contain graphic nudity,” comes point 7, “Beer advertising and marketing materials should not employ religion or religious themes.”

Some will blame market forces for Sam Adams’ decision to secularize its commercial messaging. But that doesn’t really add up. The most natural thing to avoid controversy would be to leave the text of the Declaration intact, especially when linking the text thematically to the person of Sam Adams. To redact the text as the commercial does is to, as the backlash makes clear, runs the risk of alienating a huge swath of potential customers.

There’s something other than economic caution going on here, and Merritt puts his finger on it.

This is less about a decision to avoid controversy for fear of alienating a consumer base than it is an expression of a corporate culture that embraces a radical secularism and is tone deaf to the point of editing one of our nation’s most significant documents. It has more to do with a secular political and social sensibility than it does with economic savvy.

In such a radical separation of faith from public life, Sam Adams the beer company has done something that Sam Adams himself would never have stood for.

As Sam Adams put it himself in 1776, “We have this day restored the Sovereign to whom all alone men ought to be obedient. He reigns in Heaven, and with a propitious eye beholds his subjects assuming that freedom of thought, and dignity of self-direction which He bestowed on them. From the rising to the setting sun, may His kingdom come.”

Here’s the ad in question:

alleviating-poverty“We see poverty in the developing world and we ask—what can I do?” says Michael Matheson Miller, Research Fellow at the Acton Institute and the Director of Poverty Cure, “But what if the question that animates our activity is the wrong one?”

What if instead of asking how we can alleviate poverty, we asked, “How do people in the developing world create prosperity for their families and their communities?” This sounds like a simple shift, but it can transform the way we think about poverty and the poorest among us because it takes the focus off ourselves and puts it where it belongs. People in need are not objects of our charity, they are subjects, and should be seen as the protagonists of their own development. Changing the question helps lead to an inter-subjective relationship.

Ask people in the developing world what they want most, and they don’t mention more aid or charity. They want jobs; they want the opportunity to build businesses; they want access to markets, to broader circles of exchange so they can provide for their families. As Ghanaian entrepreneur Herman Chinery-Hesse told me, “The people here are not stupid. They’re just disconnected from global trade.”

Read more . . .