Posts tagged with: economist

“There is only one effective solution to world poverty,” says theologian Wayne Grudem in a recent lecture on his latest book, The Poverty of Nations, co-authored with economist Barry Asmus. That solution, he argues, is a rightly ordered free market, and such a solution, he goes further, is “consistent with the teachings of the Bible about productivity, property, government, and personal moral values.”

Watch the whole thing here:

Grudem’s primary question, “What causes wealth or poverty in the world?,” is not new, but he approaches it from a distinctly Christian perspective. Assessing the question from three distinct angles — a nation’s economic system, government, and cultural beliefs and values — Grudem and Asmus propose 79 factors that “will help nations escape from poverty and move toward prosperity.”  (more…)

A-College-Graduates-Guide-to-Starting-a-Career1Yesterday, Jordan Ballor explored the relationship between money and happiness, referring to money as “a good, but not a terminal good,” and pointing to Jesus’ reminder that “life does not consist in an abundance of possessions.”

Over at Café Hayek, economist Russ Roberts offers a good companion to this, advising college graduates to have a healthy perspective about money and meaning when entering the job market:

Don’t take the job that pays the most money. Nothing wrong with money, but it’s the wrong criterion for choosing if you are fortunate to have a choice in this not-so-great job market. People often confuse economics with anything that is related to money as if the goal of economics is to make you rich. But the goal of economics is to help you get the most out of life. Money is part of that of course, but usually there are tradeoffs–the highest paying job has drawbacks. Don’t ignore those. So take the job that is the most rewarding in the fullest sense of the word. Sure, money matters. But so does how much you learn on the job, how much satisfaction it gives you and whether it lets you express your gifts. The ideal is to find a job you love that still lets you put food on the table and a roof over your head. You spend a lot of time at work. Don’t do something you hate or that deadens your soul just because it pays well.

Time is precious. One of the simplest but most important ideas of economics is the idea of opportunity cost–anything you do means not doing something else. Don’t spend all of your leisure on email and twitter and entertainment. Keep your brain growing. Listen to Planet Money. Read a novel. Take a cooking class or keep working at that musical instrument.

Of course, the Christian must be especially careful that this goal of “getting the most out of life” is properly grounded and directed. (more…)

Today at Ethika Politika, I explore the prospects for a renewed embrace of the Christian spiritual and ascetic tradition for ecumenical cooperation and the common good in my article “With Love as Our Byword.” As Roman Catholics anticipate the selection of a new pope, as an Orthodox Christian I hope that the great progress that has been made in ecumenical relations under Pope John Paul II and Pope Benedict XVI will continue with the next Roman Pontiff.

In addition, I note the liturgical season: “The calling of Lent, for Christians of all traditions, reminds us of the ascetic heart of the Gospel way of life.” I continue to say,

Indeed, how many of our social problems today—poverty, violence, abortion, etc.—would benefit from such personal and relational love? We cannot view such problems with regard to statistics and policies alone (though we ought not to ignore them). On a much deeper level, they show us the suffering of persons in crisis who need the love of those who live a life of repentance from past sin and striving toward the likeness of God, the “way toward deification.”

I have commented in the past on the PowerBlog with regards to asceticism and the free society, but here I would like to explore the other side of the coin. We ought to embrace the radical way of love of the Christian tradition when it comes to the social problems of our day, but as I note above, we ought not, therefore, to ignore statistics and policies.

In his 1985 article, “Market Economy and Ethics,” then Joseph Cardinal Ratzinger writes, “A morality that believes itself able to dispense with the technical knowledge of economic laws is not morality but moralism. As such it is the antithesis of morality.” Heeding this warning means uniting good intentions and sound economics.

Failure to do so, despite having the right intentions and even the right morals, can lead to great error and unintended, harmful consequences. It reminds me of two passages from the readings for the past weekend’s Acton/Liberty Fund Liberty and Markets conference that I had the opportunity to attend. (more…)

Blog author: jballor
posted by on Wednesday, September 19, 2012

Tyler Cowen fielded an interesting topic on his blog last week, focusing on economists who are (or were) clergy.

There’s an interesting list, including notables like the Salamancans, Paul Heyne, and Heinrich Pesch. I didn’t realize that Kirzner is a rabbi. Malthus is named first, but as the initial comment on Cowen’s post notes, anytime you mention Malthus you should mention Anders Chydenius in the following breath.

How about Edmund Opitz of the Foundation for Economic Education, or even Rodger Charles, S.J., or James Schall? It depends largely on how narrowly you define being an “economist,” of course, as the inclusion of the Salamancan theologians indicates. Being a moral theologian who focuses on ethics and economics might not be enough to qualify. Does being a political philosopher/political economist count? But certainly A. M. C. Waterman should be noted.

And of course it also depends on how narrowly you define “clergy.” As Asher Meir notes in the post, how about non-ordained academic theologians, or economists with theological training (or theologians with economic training)? Then the list would start to get very long, indeed.

Any other names come to mind?

Blog author: jballor
posted by on Wednesday, November 23, 2011

Over at the Economix blog, University of Chicago economist Casey B. Mullin takes another look at some of the recent poverty numbers. He notes the traditional interpretation, that “the safety net did a great job: For every seven people who would have fallen into poverty, the social safety net caught six.”

But another interpretation might have a bit more going for it, actually, and fits in line with my previous analogy between a safety net as a trampoline vs. a foam pit:

Another interpretation is that the safety net has taken away incentives and serves as a penalty for earning incomes above the poverty line. For every seven persons who let their market income fall below the poverty line, only one of them will have to bear the consequence of a poverty living standard. The other six will have a living standard above poverty.

Of course, most people work hard despite a generous safety net, and 140 million people are still working today. But in a labor force as big as ours, it takes only a small fraction of people who react to a generous safety net by working less to create millions of unemployed. I suspect that employment cannot return to pre-recession levels until safety-net generosity does, too.

The conclusion ought to be that policies that provide incentives for people to not seek out work as vigorously as they otherwise might, even if such incentives are unintended consequences, are morally suspect and economically questionable.

In a special report, the American Spectator has published Acton Research Director Samuel Gregg’s new article on the “civilizational agenda” of Pope Benedict XVI. Special thanks also to RealClearReligion for linking the Gregg article.

Benedict XVI: In No One’s Shadow

By Samuel Gregg

It was inevitable. In the lead-up to John Paul II’s beatification, a number of publications decided it was time to opine about the direction of Benedict XVI’s pontificate. The Economist, for example, portrayed a pontificate adrift, “accident-prone,” and with a “less than stellar record” compared to Benedict’s dynamic predecessor (who, incidentally, didn’t meet with the Economist‘s approval either).

It need hardly be said that, like most British publications, the Economist‘s own record when it comes to informed commentary on Catholicism and religion more generally is itself less than stellar. And the problems remain the same as they have always been: an unwillingness to do the hard work of trying to understand a religion on its own terms, and a stubborn insistence upon shoving theological positions into secular political categories.

Have mistakes occurred under Benedict’s watch? Yes. Some sub-optimal appointments? Of course. That would be true of any leader of such a massive organization.

But the real difficulty with so much commentary on this papacy is the sheer narrowness of the perspective brought to the subject. If observers were willing to broaden their horizons, they might notice just how big are the stakes being pursued by Benedict.
This pope’s program, they may discover, goes beyond mere institutional politics. He’s pursuing a civilizational agenda.

And that program begins with the Catholic Church itself. Even its harshest critics find it difficult to deny Catholicism’s decisive influence on Western civilization’s development. It follows that a faltering in the Church’s confidence about its purpose has implications for the wider culture.

That’s one reason Benedict has been so proactive in rescuing Catholic liturgy from the banality into which it collapsed throughout much of the world (especially the English-speaking world) after Vatican II. Benedict’s objective here is not a reactionary “return to the past.” Rather, it’s about underscoring the need for liturgy to accurately reflect what the Church has always believed — lex orandi, lex credendi — rather than the predilections of an aging progressivist generation that reduced prayer to endless self-affirmation.

This attention to liturgy is, I suspect, one reason why another aspect of Benedict’s pontificate — his outreach to the Orthodox Christian churches — has been remarkably successful. As anyone who’s attended Orthodox services knows, the Orthodox truly understand liturgy. Certainly Benedict’s path here was paved by Vatican II, Paul VI, and John Paul II. Yet few doubt that Catholic-Orthodox relations have taken off since 2005.

That doesn’t mean the relationship is uncomplicated by unhappy historical memories, secular political influences, and important theological differences. Yet it’s striking how positively Orthodox churches have responded to the German pope’s overtures. They’ve also become increasingly vocal in echoing Benedict’s concerns about Western culture’s present trajectory.

But above all, Benedict has — from his pontificate’s very beginning — gone to the heart of the rot within the West, a disease which may be described as pathologies of faith and reason.

In this regard, Benedict’s famous 2006 Regensburg address may go down as one of the 21st century’s most important speeches, comparable to Alexander Solzhenitsyn’s 1978 Harvard Address in terms of its accuracy in identifying some of the West’s inner demons.

Most people think about the Regensburg lecture in terms of some Muslims’ reaction to Benedict’s citation of a 14th century Byzantine emperor. That, however, is to miss Regensburg’s essence. It was really about the West.

Christianity, Benedict argued at Regensburg, integrated Biblical faith, Greek philosophy, and Roman law, thereby creating the “foundation of what can rightly be called Europe.” This suggests that any weakening of this integration of faith and reason would mean the West would start losing its distinctive identity. In short, a West without a Christianity that integrates faith and reason is no longer the West.

Today, Benedict added, we see what happens when faith and reason are torn asunder. Reason is reduced to scientism and ideologies of progress, thereby rending reasoned discussion of anything beyond the empirical impossible. Faith dissolves into sentimental humanitarianism, an equally inadequate basis for rational reflection. Neither of these emaciated facsimiles of their originals can provide any coherent response to the great questions pondered by every human being: “Who am I?” “Where did I come from?”
“Where am I going?”

So what’s the way back? To Benedict’s mind, it involves affirming that what he recently called creative reason lies at the origin of everything.

As Benedict explained one week before he beatified his predecessor: “We are faced with the ultimate alternative that is at stake in the dispute between faith and unbelief: are irrationality, lack of freedom and pure chance the origin of everything, or are reason, freedom and love at the origin of being? Does the primacy belong to unreason or to reason? This is what everything hinges upon in the final analysis.”

It’s almost impossible to count the positions Benedict is politely assailing here. On the one hand, he’s taking on philosophical materialists and emotivists (i.e., most contemporary scholars). But it’s also a critique of those who diminish God to either a Divine Watchmaker or a being of Pure Will.

Of course none of this fits into sound-bites. “Pope Attacks Pathologies of Faith and Reason!” is unlikely to be a newspaper headline anytime soon. That, however, doesn’t nullify the accuracy of Benedict’s analysis. It just makes communicating it difficult in a world of diminished attention-spans and inclined to believe it has nothing to learn from history.

So while the Economist and others might gossip about the competence of various Vatican officials, they are, to their own detriment, largely missing the main game. Quietly but firmly Benedict is making his own distinct contribution to the battle of ideas upon which the fate of civilizations hang. His critics’ inability to engage his thought doesn’t just illustrate their ignorance. It also betrays a profound lack of imagination.

Dr. Andrea Schneider, recently appointed as an advisor to the office of Germany’s Federal Chancellor, Angela Merkel, is the winner of the 2007 Novak Award and its associated $10,000 prize.

Dr. Schneider studied economics at the Friedrich-Alexander-University of Erlangen-Nuremberg, Germany, where she taught and worked for the Chair for Economic Policy in Nuremberg, Germany. Her dissertation received both the Hermann-Gutmann-Foundation Award and the Wolfgang-Ritter-Award. She went on to work as director of the Konrad-Adenauer-Foundation’s economic policy group.

At the Konrad-Adenauer-Foundation, she advised on topics like labor market, health care, welfare reform, and the significance of human dignity in politics. She is currently an advisor on economic and political reform in the Federal Chancellor’s Staff for Policy Planning.

Dr. Schneider has published and taught on many topics, including the social market economy, welfare reform, and social ethics. Additionally, she is a member of the Central Committee of German Catholics (Zentralkomitee der deutschen Katholiken), the preeminent organization for lay Catholics in Germany.

Named after distinguished American theologian and social philosopher Michael Novak, the Novak Award rewards new outstanding research by scholars early in their academic careers who demonstrate outstanding intellectual merit in advancing the understanding of theology’s connection to human dignity, the importance of limited government, religious liberty, and economic freedom. Recipients of the Novak Award make a formal presentation on such questions at an annual public forum known as the Calihan Lecture. This year’s lecture will be held in Rome this spring.

The Novak award forms part of a range of scholarships, travel grants, and awards available from the Acton Institute that support future religious and intellectual leaders who wish to study the essential relationship between theology, the free market, economic liberty, and the importance of the rule of law. Details of these scholarships may be found at www.acton.org/programs/students.