Acton University 2015 is about to get underway at DeVos Place in Grand Rapids, Michigan, and our friend Al Kresta has already taken up residence on the gallery overlook level for his week of Kresta in the Afternoon remote broadcasts. His first guest from Acton University was our own Kishore Jayabalan, director of Istituto Acton in Rome, who sat down for a twenty minute discussion of Pope Francis, Laudeto Si, and the compatibility of capitalism with Christianity. The full interview is available via the audio player below.
Today’s issue of Public Discourse offers a reflection on the life and work of Michael Novak. It would not be an exaggeration to say Novak is a towering figure in the world of free market economics. Author Nathaniel Peters says that while Novak has had his critics, the question that lies at the heart of all Novak’s work is this: “How do we get people out of poverty?”
What economic systems are most conducive to allowing people to exercise their human dignity, realize their God-given capacities, and provide for themselves and their families? When many people think of capitalism, they imagine factory owners exploiting workers. Novak sees a woman with a micro-loan who can now start a business to support her family, or a community of immigrants who have arrived in America—like Novak’s own Slovak ancestors—who through hard work in their local community can build better lives for themselves and those around them. (more…)
If one decides to destroy the American Dream, there are a few steps that would be necessary.
- Put Big Government in charge. The average American can’t figure out his or her own dreams, let alone what it would take to make them a reality.
- Tell Americans that without the government, the American Dream is hopeless.
- Produce a lengthy document about the American Dream. Leave out the word “freedom,” let alone the idea of freedom.
- Let people know that “freedom” (without actually using the word) is quite harmful. Don’t worry, thought, Big Government will protect you.
Capitalism is routinely blamed for rampant materialism and consumerism, accused of setting society’s sights only on material needs and wants, and living little time, attention, or energy for much else. But what, if not basic food, shelter, and survival, was humanity so preoccupied with before the Industrial Revolution?
As Steve Horwitz argues in a preview of his forthcoming book, Hayek’s Modern Family, our newfound liberty and accelerated activity in the Economy of Creative Service has actually freed us to devote more to other spheres of stewardship, not less:
I recently gave a hearty cheer for bringing back childhood chores, which are shockingly absent in a majority of today’s homes. The same appears to be the case with summer work for teenagers, which is increasingly avoided due to sports activities, cushy internships, video games, clubs and camps, and, in many cases, a lack of employment prospects altogether.
In an article for the Wall Street Journal, Dave Shiflett explores the implications of this development, recalling the “grit and glory of traditional summer work, which taught generations of teenagers important lessons about life, labor and even their place in the universe.”
Whether it was newspaper delivery, construction, factory work, fast food, or manual labor on the farm or the railroad, such jobs have introduced countless kids to responsibility, creativity, and service, helping connect the dots between God-given gifts and the broader social order. (more…)
At The Stream, Anne Bradley writes about the freedom that free trade brings. Why does free trade matter?
- We live in a world of scarcity: we have unlimited wants and limited means (resources) to satisfy those wants.
- As individuals, we aren’t good at producing everything we need to survive. We are limited in our talents and opportunities.
- We flourish when we are free to trade the things we are better at producing for the things we are not as good at producing.
I grew up in a very small town. Our fashion purchases were limited to the dry goods store (yes, it still went by that name) which carried things like Buster Brown shoes and sensible sweaters, or the grain elevator, where you could buy durable overalls for farm work.
As someone who eagerly awaited Seventeen magazine every month and witnessed the birth of MTV, you can imagine my fashion dilemma. The closest mall was 70 miles away. I needed Calvin Klein jeans, Candies heels and Esprit tops like, now.
Steven Quartz, a philosopher and neuroscientist at Caltech, along with Anette Asp, a political scientist and neuromarketer, feel for me. In The Atlantic, Bourree Lam talked with the two about the connection between “cool” and capitalism. Quartz and Asp, believe, in as sense, that capitalism created “cool.” First, though, Quartz says there are four myths linked to capitalism (or what some would call “consumerism”) that their research shows to be false:
First, that it doesn’t make us happy. Second, that it relies on instilling false needs in us because it’s contrary to our real nature. Third, that it erodes public life. Fourth, that it’s primarily about “stuff.”