Posts tagged with: crisis

Radio Free ActonIn this edition of Radio Free Acton, Paul Edwards joins our crew to host a discussion of the crisis in the Ukraine, with perspective provided by Acton Director of Research Samuel Gregg, Director of Communications John Couretas, and with an insider’s perspective of current events from an evangelical Christian currently residing near Kiev. (Our friend from Kiev remains anonymous in order to ensure his safety and security.) Paul and his guests discuss the geopolitical context of the crisis, the different forces currently acting on the Ukraine that have brought the situation to the current acute state, and the religious and social undertones that are shaping the contours of Ukrainian society as it copes with the unrest.

You can listen to the podcast via the audio player below.

Blog author: dpahman
posted by on Wednesday, May 8, 2013

As commencement ceremonies once again are being celebrated around the country, I was reminded again of the moral crisis of US education.

Elise Hilton recently surveyed the dismal employment rate among young adults in the US, writing that we have moved in twelve years from having the best rate in the developed world to being among the worst, following the path of Greece, Spain, and Portugal.

She highlights two possible solutions. The better one is from Acton’s director of research Samuel Gregg:

Gregg says we must rely on free markets rather than redistribution of wealth, economic liberty, rule of law, entrepreneurship and the ability to take risks economically – all things that have made America great in the past.

The second comes from David Leonhardt, who, among other ideas, suggests, “Long term, nothing is likely to matter more than improving educational attainment, from preschool through college.”

Notice the language he uses? Not educational quality, nor even job-training, but “educational attainment.” With no intended disrespect to Mr. Leonhardt, it is precisely this well-meaning, widespread, but ill-informed mentality that has led, in large part, to our current educational crisis. (more…)

Prof. Giovanni Patriarca, recipient of the Acton Institute’s 2012 Novak Award given recently in Rome at the Pontifical University of St. Thomas Aquinas, was interviewed by RomeReports Television News Agency in a video released Friday.

Articulating the main points of his lecture “Against Apathy: Reconstruction of a Cultural Identity,” Patriarca told RomeReports that Western democratic society is abandoning its traditional values and, therefore, its very culture of responsible freedom and creativity. He placed part of the blame of the West’s moral decline and widespread apathy on an ever-increasing “fast-paced, digitalized and materialistic lifestyle.”

Patriarca told RomeReports the problem of apathy in Western culture is really centered on the “fundamental role religion plays” in restoring man’s civic responsibilities and altruistic desire to freely choose creative magnanimous action in the service of God and society—the Judeo-Christian moral and vocational platform on which a free and enterprising Western culture is founded. Therefore Patriarca also warned that the Western culture’s “openness of religion,” its so-called  “spiritualism a la carte” which has led to a relativistic, hashed religious culture that is fundamentally unmotivated and too radically self-centered to sacrifice altruistically to overcome the immense challenges of the world’s current economic crisis.

In religion, he says, “we regain lost hope and rebuild from [it] a sense of charity, respect, reconciliation, and forgiveness … to find solutions to problems that will be difficult, but will be positive and creative … to stimulate our growth together.”

Blog author: dpahman
posted by on Monday, December 3, 2012

Pin not actual size.

I commented last week on the “textbook bubble” (here) and have commented in the past on the “higher-ed bubble” and the character of American education more generally (see here, here, and here). To briefly summarize, over the last few decades the quality of higher education has diminished while the cost and the number of people receiving college degrees has increased. The cost is being paid for, in large part, through government subsidized loans. But with the drop in quality and increase in quantity, a college degree is not as impressive as it used to be; in many cases it no longer signals to employers what it used to. When a critical mass of those loans goes into default, we will have another housing-bubble-esque crisis on our hands. At the same time, government loans, which are largely indiscriminate with regard to the risk of the applicant and guaranteed on the backs of taxpayers, have incentivized colleges and universities to raise the costs to students for the sake of increased expenditures, inflating the bubble even more. Now, Alex Williams of The New Times reports last Friday,

The idea that a college diploma is an all-but-mandatory ticket to a successful career is showing fissures. Feeling squeezed by a sagging job market and mounting student debt, a groundswell of university-age heretics are pledging allegiance to new groups like UnCollege, dedicated to “hacking” higher education. Inspired by billionaire role models, and empowered by online college courses, they consider themselves a D.I.Y. vanguard, committed to changing the perception of dropping out from a personal failure to a sensible option, at least for a certain breed of risk-embracing maverick.

An increasing number of students are realizing that they, to quote Good Will Hunting, do not want to be $150,000 in debt for an education that they could have gotten “for a $1.50 in late charges at the public library.” (more…)

Blog author: mhornak
posted by on Friday, October 19, 2012

Is the “secular vs. sacred” worldview struggle just another first-world problem? Join us in a discussion of this topic in the AU Online series Freedom and Virtue in the Developed World. The first lecture of this AU Online series will be held on Tuesday October 23 at 6:30pm EDT. Don’t miss your chance to explore this important topic!

In the Freedom and Virtue in the Developed World series, Acton’s Director of Research, Dr. Samuel Gregg, will lead us through a theoretical and practical reflection of the far ranging economic, social, and political causes and impacts of the West’s identity crisis.

If you’re interested in participating but might not have the extra time in your schedule, don’t worry! Everyone who registers for an AU Online series will have access to recordings of the live online lectures to view at their convenience. Visit the AU Online website for more information or to register. For further questions about AU Online, please contact the AU Online team at auonline@acton.org.

Blog author: rnothstine
posted by on Tuesday, October 18, 2011

Louisiana’s Governor Bobby Jindal received high praise for his handling of the BP disaster in the Gulf in 2010. Even political foes like Democratic strategist and Louisiana native James Carville called Jindal’s leadership in times of crisis as “competent,” “honest,” and “personable.” Jindal was a powerful image of leading by example and presence as cameras followed him around the Gulf, marshes, and bayous. The media spent days and nights on the water with a governor who declared the cleanup up was a war “to protect our way of life.”

In the summer of 2010, I published a commentary on the disaster in the Gulf titled “Spiritual Labor and the Big Spill.” Along with the vast connection the waters hold to the heritage and way of life of those on the Gulf Coast, I addressed some of the disillusionment of the elected leaders in the state with the federal response:

Many in Mississippi and Louisiana are also understandably weary of an often unresponsive federal bureaucracy. United States Congressman Gene Taylor (D-Miss), who represents the seacoast, said of the federal response, “I’m having Katrina flashbacks,” and called the current administration’s efforts “incompetent.” In a particularly harsh quip Florida Senator George Lemieux (R-Fla) added: “It’s not just oil that’s washing ashore Mr. President, it’s failure.” Asked about the biggest frustration with the federal response, Governor Bobby Jindal (R-La) on day 73 of the spill lamented, “There’s just no sense of urgency.”

In his 2010 book Leadership and Crisis, Jindal declared of the local initiative,

If the oil spill crisis teaches us one thing, it is that a distant, central command and control model simply didn’t work with the fast-moving and ever-changing crisis that was unfolding. Frankly, some of the best leadership and advice we got was from local leaders, like the parish presidents and fishermen. As far as I can tell, none of them has yet to win a Nobel Prize, but they know these waters. And some of the best ideas for cleanup came from locals.

Because the federal government was failing to provide the boom we needed, we came up with creative ideas – Tiger dams, Hesco Baskets, sand-drop operations, and freshwater diversions. It was local initiative that gave us one of the best techniques for cleaning up: vacuum trucks. The federal government was having workers clean up the marsh grasses with the equivelant of paper towels. We thought of the bright idea of putting a large vacuum truck, like the kind that they use to clean Port-a-Potties, on top of a National Guard pontoon boat. They were highly effective in sucking up the oil. (p. 12, 13).

Local initiative, local government, and especially church based charities and agencies are proving to be the best tools for assisting and leading in a crisis. For an overview of how Christian charities served during the 2011 tornado disasters in the South and in Joplin, Missouri, take a look at “The Church and Disaster Relief: Shelter from the Stormy Blast” in Religion & Liberty.

The Public Discourse recently published my article, Rethinking Economics in the Post-Crisis World. Text follows:

In the wake of the financial crisis, we need an economics with greater humility about its predictive power and an increased understanding of the complicated human beings who, when the discipline is rightly understood, lie at its center.

Apart from bankers and politicians, few groups have received as much blame for the 2008 financial crisis as economists. “Economists are the forgotten guilty men” was how Anatole Kaletsky, former economics editor and current editor-at-large for the London Times, put it earlier this year when explaining why “a bank with just $1 billion of capital [would] borrow an extra $99 billion and then buy $100 billion of speculative investments.”

Greed and sheer imprudence played a role, but so too, Kaletsky argued, did those (unnamed) economists who posited that their models proved that events such as the collapse of Lehmann Brothers in 2008 or Long Term Capital Management in 1998 were mathematically likely to happen once every billion years.

Kaletsky’s broader point was that contemporary mainstream economics had been sufficiently discredited by the financial crisis that the entire discipline required what he called an “intellectual revolution,” or it risked being dismissed as a rather suspect sub-branch of statistical analysis and mathematical modeling.

Kaletsky is hardly alone in arguing that economists need to rethink key aspects of their discipline. Though unwilling to call for a total paradigm shift, the Economist recently opined that the financial crisis has raised profound questions of coherence about two areas of economics: macro-economics and financial economics. “Few financial economists,” the Economist observed, “thought much about illiquidity or counterparty risk, for instance, because their standard models ignore it.” Likewise, the Economist commented, “Macroeconomists also had a blindspot: their standard models assumed that capital markets work perfectly.”

All this is certainly true. But the key expression to note here is “their standard models.” (more…)