Posts tagged with: economy

We’ve developed a bit of a backlog of audio to release over the course of the summer and fall, so today we begin the process of shortening that list by sharing some recent lectures from the 2014 Acton Lecture Series with you.

On August 26, Acton was pleased to welcome Ron Blue to Grand Rapids for an address entitled “Persistent Generosity.” Ron has spent almost 50 years in the financial services world and the last 35 working almost exclusively with Christian couples. What he has observed is that those who are long term consistent in their generosity exhibit three characteristics that have nothing to do with money: they are content, confident, and able to communicate with each other, their children, and advisors if they use them. In this address, Ron shares his personal experience and impressions drawn from 50 years in the financial sector, gives unique financial advice from a faith-based perspective, and shares the two questions that must be answered and one decision that must be made in order to exhibit the characteristics of persistently generous people.

On October 2, we welcomed Gerard Lameiro to the Mark Murray Auditorium to address an audience on the topic of “Renewing America and Its Heritage of Freedom: What Freedom-Loving Americans Can Do to Help.” In his address, Lameiro commented on what freedom is and what it is not, and then walked through a substantial, solid, and moral case for freedom, acknowledging that God is the author of all liberty and that truth, human dignity, and morality are inextricably linked to freedom. You can find more information on Lameiro and pick up a copy of his latest book (which shares the title of his lecture) at his website, and you can listen to him on the Radio Free Acton podcast right here.

Calvin_Coolidge_and_Israel_Moore_Foster“The Power of the Moral Law” is the title of an address delivered by Calvin Coolidge at the Community-Chest Dinner in Springfield, Massachusetts on October 11, 1921. Published in The Price of Freedom, the text is only available online through Google Books.

Coolidge’s main point in his remarks was to reinforce the truth that it is prosperity not grounded in a deeper meaning that threatens our American Republic. Displaying his conservative thought, he challenges materialism of government interventionists and reminds proponents of business and the market that material success alone is insufficient. True progress must have a deeper foundation.

There are many lines that stand out in his address, but perhaps few stand out more than this simple sentence: “Ideals and beliefs determine the whole course of society.” Currently, we see this playing out powerfully in our culture today. The ideals that have held our Western and American civilization intact for centuries have largely eroded. Ideals and commonly held standards, especially in the academy, are attacked as backwards and oppressive.
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allisgift1 - Copy (2)“All that exists is God’s gift to man, and it all exists to make God known to man, to make man’s life communion with God…God blesses everything He creates, and, in biblical language, this means that He makes all creation the sign and means of His presence and wisdom, love and revelation.” -Alexander Schmemann, from For the Life of the World

In Episode 1 of For the Life of the World, a new series from the Acton Institute, Evan Koons discovers the concept of oikonomia, or, “God’s plan for his whole household of creation,” realizing that the more specific areas and “modes of operation” that God has designed us to work within (families, businesses, governments, institutions) are meant to harmonize with each other.

To illustrate the idea, Koons compares God’s economy to music. Pointing to a xylophone, he notes that a xylophone has its own particular mode of operation — its own rules, its own economy. It works differently than, say, a ukulele or a trombone or an upright bass. Yet played together in proper harmony, each of these instruments coordinate their unique patterns and modes of operation to create something unified yet varied, rich and beautiful.

But Koons doesn’t stop here, eventually moving on to ask the even bigger question: “What is the actual song, anyway?”

The answer, we learn, is gift. We were created to be gift-givers, “crafted in God’s own image, with his own breath, crowned with glory and honor.” And “in that same abundance,” Koons continues, “he blessed us, and he said go, explore my world. Unwrap the gift of my creation. Bless the world with your own gifts.” (more…)

Watch our new conference series live from Rome on April 29 at 10:00 a.m. EST.  The embedded player below will display our conference stream when it becomes available.  You can also visit the event on our Livestream page in order to see more information and to ask questions during the event.

387px-Rifle_RackUpdate (1/31/2013): David Dunn Responds to my post, Fr. Gregory’s post, and others: here.

Original post:

David J. Dunn yesterday wrote an interesting piece arguing for a ban on assault weapons from an Orthodox Christian perspective (here). First of all, I am happy to see any timely Orthodox engagement with contemporary social issues and applaud the effort. Furthermore, I respect his humility, as his bio statement reads: “his views reflect the diversity of Orthodox opinion on this issue, not any ‘official’ position of the church.” The same applies to my views as well.

I take issue with Dunn, in particular, in his use of the Orthodox principle of oikonomia. As he frames it, it would appear that he has not taken the time to understand it in historical context, distorting his application of the principle to the debate of firearm regulation. Indeed, he appears to have entirely misappropriated this principle, applying it in precisely the opposite manner in which it is traditionally intended. (more…)

In today’s culture, there is always an abundance of news stories about the “War on Christmas.” In my commentary this week, I address that concern and the lack of understanding of the deeper meaning of Christmas. Here’s a highlight:

Every December cultural warriors mourn the incessant attacks on Christmas and secularism’s rise in society. News headlines carry stories of modern day Herods banning nativity scenes, religious performances, and even the word “Christmas.” Just as a majority of young people profess they will have less prosperity and opportunity than their parents, many people now expect less out of Christmas. Continual bickering over holiday messaging in corporate advertising itself points to a shrinking and limited Christmas.

Yet these problems are signs on the way to important truths, if we have the eyes to see. Record spending and debt, whether in Washington or the home, allude to a society trying to fill an emptiness of the heart. Even our disappointment in poor leadership in America reminds us that we crave a true King and are expectant of a greater day.

In 2010, I penned a related essay “Why the Nativity?” That post delves even deeper into the theology of the incarnation and the celebration of the birth of Christ.

Christmas is a hard time for many people because expectations for joy and changes in their life are so high. In my own life, I count myself among those that have had a difficult time at Christmas because I’m so reflective and I realize life isn’t always how I want it.

There is a sign in front of the church that I attend that reads, “Jesus is all you want, if Jesus is all you have.” I find that the more I deeply ponder the incarnation of Christ, the more I am amazed and my heart is transformed.

I quoted Charles Wesley in my commentary in where he called Christ the “desire of every nation,” and “joy of every longing heart.” The hymn is of course, “Come Thou Long Expected Jesus.” The words are beautiful and I’ve always loved Wesley’s hymns because they deal with the deepest hopes of the heart and he personalizes the person of Christ for all.

Call for Papers: “Our Entrepreneurial Future: East, West, North, and South”

The Association of Private Enterprise Education Annual Conference, Maui, Hawaii, April 14 – 16, 2013. “Our Entrepreneurial Future: East, West, North, and South.” The Association of Private Enterprise Education (APEE) invites the submission of papers for its 38th International Conference in Maui, Hawaii, April 14-16, 2013. The Association is composed of scholars from economics, philosophy, political science, and other disciplines, as well as policy analysts, business executives, and other educators. APEE’s annual meeting explores topics related to private enterprise in an atmosphere that respects market approaches. Presentations reflect the latest research in fields such as regulation, public choice, microeconomics, and Austrian economics, as well as development of instructional techniques. The submission fee for the society’s journal, The Journal of Private Enterprise, is waived for papers presented at the conference.

Article: “What is the Philosophy of Law?”
John Finnis, SSRN

The philosophy of law is not separate from but dependent upon ethics and political philosophy, which it extends by that attention to the past (of sources, constitutions, contracts, acquired rights, etc.) which is characteristic of juridical thought for reasons articulated by the philosophy of law. Positivism is legitimate only as a thesis of, or topic within, natural law theory, which adequately incorporates it but remains transparently engaged with the ethical and political issues and challenges both perennial and peculiar to this age. The paper concludes by proposing a task for legal philosophy, in light of the fact that legal systems are not simply sets of norms.

Book Note: “Markets and Growth in Early Modern Europe”
Victoria N. Bateman, Markets and Growth in Early Modern Europe

This is the first study to analyze a wide spread of price data to determine whether market development led to economic growth in the early modern period. Bateman compares agricultural data with less abundant information on cloth, candles and olive oil from numerous European cities. Using a range of economic measures applied to a larger set of goods, she shows that market development occurred earlier than was previously believed.

Book Note: “Limited Government and the Bill of Rights”
Patrick M. Garry, Limited Government and the Bill of Rights

What was the intended purpose and function of the Bill of Rights? Is the modern understanding of the Bill of Rights the same as that which prevailed when the document was ratified? In Limited Government and the Bill of Rights, Patrick Garry addresses these questions. Under the popular modern view, the Bill of Rights focuses primarily on protecting individual autonomy interests, making it all about the individual. But in Garry’s novel approach, one that tries to address the criticisms of judicial activism that have resulted from the Supreme Court’s contemporary individual rights jurisprudence, the Bill of Rights is all about government—about limiting the power of government. In this respect, the Bill of Rights is consistent with the overall scheme of the original Constitution, insofar as it sought to define and limit the power of the newly created federal government.

Lectures: “Theology of Mission”
Edmund Clowney, Westminster Theological Seminary

These are 37 audio lectures from Edmund Clowney (1917-2005) of Westminster Theological Seminary from his course, “Theology of Mission,” within a broader biblical and historical study of mission and the “theology for the city.” This is one of the offerings from WTS made available via iTunesU.

French President François Hollande has promised a 75% tax rate on those in his country who earn an annual salary above one million euros ($1.24 million). Not surprisingly, this number has struck fear into the hearts and wallets of quite a few of France’s top earners, including some who are contemplating leaving and taking their jobs with them. The New York Times has the story:

Many companies are studying contingency plans to move high-paid executives outside of France, according to consultants, lawyers, accountants and real estate agents — who are highly protective of their clients and decline to identify them by name. They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them.

They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.

The potential tax increase threatens to handcuff “les Riches” and, ironically enough, undercut France’s prized notion of egalité, taking with it liberté and fraternité, the remainder of the country’s tripartite maxim. In Hollande’s France, these principles may not apply to the wealthy.

Of course, Hollande’s tax initiative is sure to have some beneficiaries. No, not the poor or the middle class. The real winners? Well, they live on the other side of the border. Also from the Times:

“It is a ridiculous proposal, but it’s great for us,” said Jean Dekerchove, the manager of Immobilièr Le Lion, a high-end real estate agency based in Brussels. Calls to his office have picked up in recent months, he said, as wealthy French citizens look to invest or simply move across the border amid worries about the latest tax.

“It’s a huge loss for France because people and businesses come to Belgium and bring their wealth with them,” Mr. Dekerchove said. “But we’re thrilled because they create jobs, they buy houses and spend money — and it’s our economy that profits.”

The entire story reminds me of a passage from Rev. Robert Sirico’s latest book, Defending the Free Market: The Moral Case for a Free Economy. In a chapter titled “The Idol of Equality,” Sirico addresses the unsustainable nature of simple redistribution. Instead, business development and job creation are essential–and lasting–tenets of economic growth. From the book:

When most people picture the 1 percent and their wealth, what comes to mind is designer clothing and jewelry, yachts and limousines, mansions and penthouses—all sorts of alluring and attention-grabbing luxuries. Luxuries so distracting, in fact, that we tend to lose sight of the fact that most of the wealth of the wealthiest is invested. It is put to work in the businesses they own and manage, and in stocks and other financial vehicles that provide the capital for countless other businesses. These are the businesses that provide the 99 percent with the goods, services, and employment that they regularly enjoy and often take for granted.

Whether it’s a big automotive plant or a small bakery on the corner, a microchip manufacturer or a family farm, all businesses that produce goods and employ people are owned by someone. It’s businesses that make up most of the wealth of the 1 percent. Confiscating that wealth and giving it to the other 99 percent would mean shifting much of that wealth from investment and production to consumption, since the poor and middle class consume a far higher percentage of their income than the wealthy do. This sudden shift from investment and production to consumption would demolish the infrastructure that makes jobs, goods, and services possible.

Hollande would be wise to read Defending the Free Market. Doing so might save his nation and preserve liberty, equality and brotherhood in the process.

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.

Online today on the American Spectator is an article by Acton’s president, the Rev. Robert Sirico. In it, Rev. Sirico discusses the phenomenon of “creative destruction,” peculiar to free market systems, wherein newer and better industries and technology gradually replace older, less efficient ones. Rev. Sirico explains that while on the surface creative destruction appears to be harmful, in the long run it is crucial to a healthy, flourishing economy:

“Sometimes what appears to be beaten back and damaged is really healthy and preparing for new growth. This is the case with what economists call creative destruction — the phenomenon whereby old skills, companies, and sometimes entire industries are eclipsed as new methods and businesses take their place. Creative destruction is seen in layoffs, downsizing, the obsolescence of firms, and, sometimes, serious injury to the communities that depend on them. It looks horrible, and, especially when seen through the lives of the people who experience such economic upheaval, it can be heartrending.

But think of the alternative. What if the American Founders had constructed a society where no industry was ever allowed to go under because it would mean a lot of innocent people losing their jobs? I mean, have you ever met a livery yard owner or a stable boy? How about a blacksmith or a farrier? Do you have among your acquaintances any makers of bridles, saddles, chaises, coaches, or buggy whips?

Read the entire article here.