Posts tagged with: economics

Blog author: jballor
posted by on Friday, August 31, 2012

Conference: “Global Commodities: The Material Culture of Early Modern Connections, 1400-1800″

Global History and Culture Centre – University of Warwick – 12-14 December 2012. This International conference held at the Global History and Culture Centre of the University of Warwick seeks to explore how our understanding of early modern global connections changes if we consider the role material culture played in shaping such connections. In what ways did material objects participate in the development of the multiple processes often referred to as ‘globalisation’? How did objects contribute to the construction of such notions as hybridism and cosmopolitanism? What was their role in trade and migration, gifts and diplomacy, encounters and conflict? What kind of geographies did they create in the early modern world? What was their cultural value vis-à-vis their economic value? In short, this conference seeks to explore the ways in which commodities and connections intersected in the early modern world.

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Blog author: jballor
posted by on Friday, August 24, 2012

Book Review: “Ferguson on Green, Pauper Capital
David R. Green. Pauper Capital. Farnham, Surrey: Ashgate, 2010. Reviewed by Christopher Ferguson (Auburn University)

The Poor Law Amendment Act of 1834, more commonly known as the New Poor Law, is arguably the most notorious piece of legislation in British history. Deeply controversial in its day, it has unsurprisingly generated a dense and diverse scholarly literature ever since, yet one in which the national capital has played a remarkably minor role. Indeed, David R. Green’s study is the first to attempt to explore the history of the Poor Law in nineteenth-century London in its geographic and administrative entirety. One need not read far to understand why, for the history of the Poor Law in London prior to and post 1834 is enormously complex. Green is to be commended both for undertaking a difficult task and for producing a study that is remarkably easy to read, despite the intricacies of its subject matter. His study makes the arcane history of poor relief in nineteenth-century London accessible to the non-specialist, while simultaneously yielding significant insights about this history for specialist scholars of poverty, policy, and the nineteenth-century British state.

Job: “Assistant Professor, History of Capitalism in Modern America, Brown University”

The Department of History at Brown University invites applications for a tenure-track assistant professorship in the history of capitalism defined broadly to encompass candidates working in labor history (free and unfree), business history, economic history, history of economic thought, history of consumer society, and the political economy of the nineteenth and/or twentieth-century US.

Article: “Economics Education and Greed”
Long Wang, Deepak Malhotra, and J. Keith Murnighan, Academy of Management Learning & Education

The recent financial crisis, and repeated corporate scandals, raise serious questions about whether a business school education contributes to what some have described as a culture of greed. The dominance of economic-related courses in MBA curricula led us to assess the effects of economics education on greed in three studies using multiple methods. Study 1 found that economics majors and students who had taken multiple economics courses kept more money in a money allocation task (the Dictator Game). Study 2 found that economics education was associated with more positive attitudes toward greed and toward one’s own greedy behavior. Study 3 found that a short statement on the societal benefits of self-interest led to more positive ratings of greed’s moral acceptability, even for noneconomics students. These effects suggest that economics education may have serious, albeit unintended consequences on our students’ attitudes toward greed.

Panel: “Christian Civic Engagement: Right, Responsibility, Opportunity”

Talking Points, October 15, 2012, Grand Rapids Theological Seminary, with Amy Black (Wheaton College), Timothy Gombis (GRTS), and George Marsden (Notre Dame). The thrust of Talking Points 2012 is to generate reflection on how we might restore civility in America as a model for restoring and fostering civil discourse around the world. The last half-century has seen the emergence of evangelical Christians as a significant force in national elections and debates over domestic and foreign policy. Unfortunately, Christian civic engagement has been hijacked by polarizing voices and unimaginative choices. It isn’t simply the case that in order to be “politically engaged” we must choose to vote for party A or B. Christian civic responsibility and political engagement can be more creative and redemptive, and more civil and gracious, than has been modeled by leading figures over the last several decades. Grand Rapids Theological Seminary has invited three leading scholars to help us reflect upon how “Christian Civic Engagement” has taken shape in America, and to imagine how we might take up these rights and responsibilities as new opportunities emerge.

Call for Editor: Enterprise & Society Editor Search”

The Business History Conference announces its search for editor of Enterprise & Society: The International Journal of Business History. Published by Oxford University Press, Enterprise & Society is one of the world’s leading journals in business history. Interdisciplinary in approach and international in scope, it offers a forum for research on the historical relations between businesses and their larger political, cultural, institutional, social, and economic contexts.

Blog author: jballor
posted by on Friday, August 17, 2012

Article: “Catholicism, Human Rights and the Public Sphere”
Christopher McCrudden, International Journal of Public Theology

This article suggests that the scope and meaning of human rights, and its relationship to religion, is anything but settled, and that this gives an opportunity to those who support a role for religion in public life to intervene. Such intervention should address four main issues. First, it should ensure that judges engage in attempting to understand religious issues from a cognitively internal viewpoint. Secondly, it should articulat a justification for freedom of religion that fully captures the core of the significance of religious belief, and the importance of the religious principles in the public sphere. Thirdly, it should ensure engagement and dialogue between the churches and others on the meaning of human dignity, given its centrality to religious and secular perspectives on rights. Lastly, the churches should consider more carefully what it means to give ‘public reasons’ in the political and cultural context, and how it can engage in the process of ‘public reasoning’ regarding human rights.

Article: “New Challenges for Catholic-Inspired NGOs in Light of Caritas in Veritate
Jane Adolphe, Catholic Social Science Review

The non-governmental organization (NGO) is perceived not only as a disseminator of information, monitor of human rights, or provider of services, but also as a shaper of national, regional, and international policy. Many members of the lay faithful, working with others from various Christian denominations, have established NGOs to monitor and to promote the rights of the unborn, the natural family, and many other topics of common interest. These NGOs lobby at the national, regional, and international levels. This paper discusses the role of the Catholic-inspired NGO on the international level with reference to the thought of Pope Benedict XVI in his encyclical, Caritas in Veritate.

Call for Papers: “Governance and Sustainable Development: Building Commerce and Communities”

International Conference on “Governance and Sustainable Development: Building Commerce and Communities,” Coimbatore, India 10th-13th December, 2012. With increasing calls for greater accountability and efficient management of sustainable development, there are also greater demands for more effective governance in this area. The overarching aim of the conference is to provide a forum for stimulating debate and exchange of ideas by exploring the latest developments in the governance of sustainable development from a variety of perspectives including environmental sustainability, social enterprise, corporate governance, legal pluralism, and social investment. The conference will appeal to academics, professionals from both business and non-profit entities, and policy makers.

Call for Editors: Operations Editor and Media Review Section Editor
Journal of Biblical Integration in Business

The Operations Editor would work with the JBIB editor to identify data bases and journal listings that the JBIB should be in, to assist with printing and other logistics, and to help guide the future of the JBIB in the fast-paced academic journal industry.

The Book and Media Editor would work with the editorial staff of the JBIB to manage media reviews for the journal. The Editor should understand the nature of media in the 21st century, be organized, be experienced in the classroom, and be of an inquiring mind.

Syllabus: “State, Society, and Economics”
Michael Moreland, Villanova University School of Law, University of St. Thomas School of Law, Rome Summer Program

The course I taught was a survey of some major themes in the Catholic social tradition, with readings from Augustine, Aquinas, Maritain, and the modern papal encyclicals and conciliar documents. Interested readers can see the syllabus here. Guest speakers Father Robert Dodaro, OSA and Father Stephen Brock brought their great expertise to bear on our discussions of Augustine and Aquinas, and I took the class on a side trip to the magnificent Augustinian mother church in Rome, the Basilica Sant’Agostino, which includes the tomb of St. Monica and a wonderful Caravaggio (Madonna di Loreto).

Blog author: jcarter
posted by on Thursday, August 16, 2012

While the economy of America is influenced by old British economists like Smith and Keynes, Germans are still being influenced by an even older, homegrown economist: Martin Luther.

Even today Germany, though religiously diverse and politically secular, defines itself and its mission through the writings and actions of the 16th century reformer, who left a succinct definition of Lutheran society in his treatise “The Freedom of a Christian,” which he summarized in two sentences: “A Christian is a perfectly free Lord of all, subject to none, and a Christian is a perfectly dutiful servant of all.”

Consider Luther’s view on charity and the poor. He made the care of the poor an organized, civic obligation by proposing that a common chest be put in every German town; rather than skimp along with the traditional practice of almsgiving to the needy and deserving native poor, Luther proposed that they receive grants, or loans, from the chest. Each recipient would pledge to repay the borrowed amount after a timely recovery and return to self-sufficiency, thereby taking responsibility for both his neighbors and himself. This was love of one’s neighbor through shared civic responsibility, what the Lutherans still call “faith begetting charity.”

How little has changed in 500 years. The German chancellor, Angela Merkel, a born-and-baptized daughter of an East German Lutheran pastor, clearly believes the age-old moral virtues and remedies are the best medicine for the euro crisis. She has no desire to press a secular ideology, let alone an institutional religious faith, on her country, but her politics draws unmistakably from an austere and self-sacrificing, yet charitable and fair, Protestantism.

Read more . . .

(Via: Gene Veith)

Blog author: rnothstine
posted by on Monday, August 6, 2012

In continuing with the work of highlighting Calvin Coolidge at Acton, Marc Vander Maas and I recently spoke with Amity Shlaes. Shlaes’s biography of the 30th president will be out in early 2013. She is a big fan of the Acton Institute and praised our work saying, “Acton has been all over the Coolidge case.”

Shlaes is also interviewed in the Fall 2009 issue of Religion & Liberty. Listen to the podcast below:

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Marc and I also recorded an earlier podcast on Coolidge in June for Radio Free Acton.

Blog author: John MacDhubhain
posted by on Thursday, August 2, 2012

The Affordable Care Act, more commonly known as “Obamacare”, is a strange law from the perspective of economic theories of insurance markets. Still, one can see where its designers were starting from. The individual mandate may be onerous from a liberty standpoint, but it makes sense if you understand that insurance markets are vulnerable to a phenomenon known as the “death spiral.”

The idea behind the death spiral is based on the recognition that insurance is a risk management scheme. Insurance companies, despite their best efforts, are less knowledgeable about its customers’ health than are their customers. As such, the prices an insurance company charges are based on the average risk that a customer will need care. (more…)

One of the most basic forms of entertainment that friends and families share together is playing board games, such as Monopoly or Risk. While we may not realize is how much these games are teach us about economic ideas such as trade or scarcity.

I must confess I’m a bit of a board game snob. I don’t really care for common games like Monopoly as I prefer so-called “designer” games such as the Settlers of Catan or Power Grid. In an article for the Washington Post, Blake Eskin calls Settlers the “board game of our time.”

Eskin explains that Monopoly had an appeal in the depression-era because it allowed poor kids the opportunity to feel rich and successful for a day. He also mentions several of the reasons I do not care for Monopoly: It takes several hours to play; the outcome is too dependent on luck; it can often become clear who is going to win far before the game actually ends, etc. It is also an elimination game, meaning that an early loser can be stuck with nothing to do for hours while their friends finish the game.

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Blog author: jballor
posted by on Thursday, July 19, 2012

I belong to the Christian Reformed Church, and our synod this year decided to formally adopt a report and statements related to creation care and specifically to climate change. I noted this at the time, and that one of the delegates admitted, “I’m a skeptic on much of this.”

He continued to wonder, “But how will doing this hurt? What if we find out in 30 years that numbers (on climate change) don’t pan out? We will have lost nothing, and we’ll have a cleaner place to live. But if they are right, we could lose everything.”

Over at Think Christian today, I reflect on the delegate’s question and try to begin to answer it in “Climate change and the church.” I do so primarily by attempting to inject the idea of opportunity cost into the discussion about climate change and specifically ecclesial responses.

This recognition of opportunity cost is closely identified with a central insight of economics, and it is informative to see how natural scientists and social scientists, like economists, approach the question of climate change. It’s also intriguing to see whether and how these two different groups are given platforms to speak to (and sometimes for) the church. Robert Murphy has a lengthy and worthy entrance into this broader discussion, which includes this critical observation about the insights of economists on the climate question:

The general public has no idea that the “consensus” (if we wish to use such terminology) of economic studies shows net benefits from anthropogenic climate change for decades.

Are the conclusions of such economic studies relevant to the question of how churches, groups of Christians, and individuals address the question of climate change? I submit that they are. And I also submit that Murphy’s general conclusion should chasten the confidence with which non-experts (which includes nearly everyone involved in church leadership) engage these issues:

The scientific modeling of climate change, and its possible impacts on human welfare, are very technical areas requiring years of study to master. When experts try to summarize the fields for the layperson, they sometimes present matters in misleading ways, however inadvertent.

Blog author: aknot
posted by on Wednesday, July 18, 2012

That’s the question asked at the “Economics for Everybody” blog. The answer? A resounding yes:

Work is important to God. It’s so important that He put Adam in the garden “to work it and keep it.” God took His creation and assigned it to Adam “to fill and subdue.” That sounds like work to me.

So, what does this have to do with economics?

The Bible shows us economics begins with work. God demonstrated this with His own creative action, then told Adam to follow His example. But it’s not work for work’s sake, or even work for Adam’s sake. It’s work for God’s sake.

This is the point of God commanding Adam to do specific things. Theologians often refer to these initial commands as the “creation mandate.” They are binding for everyone in the world. You could say the creation mandate is pressed into our DNA. We were designed to follow God’s commands. It’s our purpose in life.

Now when you follow someone’s commands, it means you’re ultimately working for them. In other words, with the creation mandate, God made us stewards of the creation. According to Genesis 1 and 2, our primary job as stewards is to have families and manage God’s property for their provision, all the while enjoying a close relationship with Him.

The article goes on to note that stewardship necessitates choices, and choices are foundational to economic thinking. Be it naming animals, investing, farming, or leading a family, daily tasks of stewardship are marked by the choices they demand. These choices require a broadened sense of economic thinking and force us to reckon with economics as a serious field of thought and study in the created world.

The article concludes:

This means economics starts with work, is driven by choices, and is guided by God’s commands. We could sum it all up by saying ‘economics is the study of the choices we make while using our limited resources in order to be good stewards before God.’

Complete article here.

Blog author: jballor
posted by on Friday, July 13, 2012

Conference: “Free Markets with Solidarity and Sustainability: Facing the Challenge”

Ethical human agency is only possible with freedom. Freely turning to the good, which the Creator has given us, is the highest sign of human dignity. The proper exercise of freedom requires “specific conditions of an economic, social, juridic, political and cultural order”. (Compendium of the Social Doctrine of the Church, n. 137) The free market is one of these institutions. The free market is the most efficient instrument to guarantee the distribution of goods and services in society. Beyond efficiency, however, markets need sound ethical and cultural foundations. Only free markets can be ethical markets, and only ethical markets can function in freedom. One of these primary and universally recognized ethical principles is charity.

Call for Papers: “The State of the Consecrated Life in Contemporary Canada”

We are pleased to announce an extended deadline for the Call for Papers for the “State of the Consecrated Life in Contemporary Canada” Conference to be held on 25-26 January 2013 in Montreal, Quebec. This conference is held as a part of a Social Sciences and Humanities Research Council of Canada research grant that explores the state of consecrated life in contemporary Canada and seeks will bring together leading researchers from Canada and abroad to share research and insights on this important subject. For more information, please see the attached document or the conference website: www.consecratedlife.ca. The new deadline will be 31 July 2012. Please forward this information to any colleagues, students or contacts who might be interested.

Call for Papers: “Mighty Protectors for the Merchant Class: Saints as Intercessors between the Wealthy and the Divine”

International Congress on Medieval Studies, 9-12 May 2013. By the late medieval period, merchants formed an integral part of urban society; among their activities, they facilitated trade between city centers, participated in the governing of cities, and were patrons of churches and monasteries. At the same time, the wealth that they amassed and their sometimes morally dubious activities, such as money lending, often left merchants fearful of what the afterlife would bring, causing them to appeal directly to specific saints for intercession. This session seeks to explore the religious lives of these elite members of urban society, specifically considering the individual saints to whom merchants appealed for their earthly protection and heavenly salvation as well as the manner in which they made these appeals.

Call for Papers: “Technology and Human Flourishing”

2012 Baylor Symposium on Faith and Culture (Thursday, October 25-Saturday, October 27) Technology changes us—and the world around us—in countless ways. It eases our labor, cures diseases, provides abundant food and clean water, enables communication and travel across the globe, and expands our knowledge of the natural world and the cosmos. The stuff of science fiction is now, in many cases, reality, and it can make our lives longer, healthier, and more productive than ever. But technological advance is not without complication, and even ardent proponents of technology recognize that our present age of innovation is fraught with concern for unintended consequences.

Paper: “The Decision to Delay Social Security Benefits: Theory and Evidence”
John B. Shoven and Sita Nataraj Slavov, NBER Working Papers

Social Security benefits may be commenced at any time between age 62 and age 70. As individuals who claim later can, on average, expect to receive benefits for a shorter period, an actuarial adjustment is made to the monthly benefit amount to reflect the age at which benefits are claimed. We investigate the actuarial fairness of this adjustment. Our simulations suggest that delaying is actuarially advantageous for a large subset of people, particularly for real interest rates of 3.5 percent or below.