Posts tagged with: growth

bourgeious-equality-mccloskeyIn Dierdre McCloskey’s latest book, Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World, she builds on her ongoing thesis that our newfound prosperity is not due to systems, tools, or materials, but the ideas, virtues, and rhetoric behind them.

Much has been made of her argument as it relates to the (ir)relevance of those material features as causes: “coal or thrift or capital or exports or exploitation or imperialism or good property rights or even good science.” But less has been said about her views on the spiritual/material as it relates to the byproducts.

I’m not yet finished with the book, but on page 70, she offers her view on the spiritual dynamics of what’s to come.

Contrary to popular claims that an increasingly prosperous free society will necessarily trend toward greed, envy, and idleness, McCloskey sees a future with more resources, and thus, more time and space for the transcendent. “One would hope that the Great Enrichment would be used for higher purposes,” she writes…”Enrichment leads to enrichment, not loss of one’s own soul.” (more…)

Blog author: jsunde
Thursday, December 10, 2015
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elvesIn “The Elves and the Shoemaker,” the famous fairy tale by the Brothers Grimm, a cobbler and his wife struggle to survive, barely making enough to eat (never mind investing in the future of their business).

One morning, however, they wake to find that their last scraps of leather have been turned into a remarkable pair of shoes. Not knowing the source of such craftsmanship — and apparently incurious — the cobbler sells them off at a higher price, gaining new capital to grow his business. Each night thereafter, the miracle continues, and the enterprise grows in turn.

Months later, they finally take an interest in the source of such help, staying awake through the night to spot two naked elves, each happily laboring to make more shoes. The wife sews clothes for the elves, who, after finishing their work, express their thanks and graciously depart, never to be seen again.

One can find several morals or lessons in the tale, but Jeffrey Tucker does a marvelous job of highlighting its themes on the meaning of work, the gift of exchange, and the glories of capitalism. (more…)

industrial-revolution-1024x665Economist Deirdre McCloskey is set to release the long-anticipated conclusion of the Bourgeois Era trilogy sometime next spring.

The book, Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World, will build on her thesis that our newfound prosperity is not primarily due to systems, tools, or materials, but the ideas and rhetoric behind them.

“The Great Enrichment, in short, came out of a novel, pro-bourgeois, and anti-statist rhetoric that enriched the world,” she writes, in a lengthy teaser for National Review. “It is, as Adam Smith said, ‘allowing every man [and woman, dear] to pursue his own interest his own way, upon the liberal plan of equality, liberty, and justice.’”

In an age where the Left continues to make age-old Marxian arguments about the destructive ju-ju of accumulated wealth, and where the Right is increasingly prone to react on those same grounds, McCloskey reminds us that the premises are entirely different. (more…)

arion_press_printing_san_franciscoThroughout its history, the American economy has transitioned from agrarian to industrial to information-driven.

Given our newfound status, manual labor is increasingly cast down in the popular imagination, replaced by white-collar jobs, bachelor’s degrees, and ladder-climbing. Whether due to new avenues and opportunities or a more general distaste for the slow and mundane, work with the hands is either ignored or discouraged, both as vocational prospect and consumeristic priority.

Amid this sea of new efficiencies, the art of craftsmanship is at a particular disadvantage. Whereas things used to be made with a certain individual artistry (out of necessity, no doubt), so much has become industrialized and systematized. That shift has led to unprecedented blessings, to be sure, whether in time, money, energy, and convenience, and for those fruits we should be grateful and rejoice.

But even in an economy such as this, there remains a need, a market, a knack for the slow and steady. There remains room not just for the magnificence of a well engineered microchip, but for a masterfully carved table and an artfully tailored suit. Creative service comes in all kinds, and God has a plan to both meet our immediate needs and fill our bodies, souls, and spirits with beauty and wonder. (more…)

ehrlichIn a new mini-documentary, the New York Times kindly confirms what we already know about Paul Ehrlich. His predictions about overpopulation have been astoundingly wrong, and his views about humanity are no less perverse.

Author of the famous panic manifesto, Population Bomb, Ehrlich made a name for himself by predicting mass starvation and catastrophe due to over-population. If left to our own devices, Ehrlich argued, we unruly beasts will feast and gorge and reproduce ourselves into an oblivion. His solution? Targeted starvation, abortion, and sterilization of the “selfish” and unenlightened. If the Earth is to endure, we must pay the price for humanity’s ultimate transgression: existence.

The documentary summarizes these views quite well, and includes a series of striking interviews with former disciples who have since rejected his theories. As for Ehrlich, he remains steadfast in his doubts about human value and possibility. “My language would be even more apocalyptic today,” he says. (more…)

globe-fabricIn Leonard Reed’s famous essay, “I, Pencil,” he highlights the extensive cooperation and collaboration involved in the assembly of a simple pencil — complex coordination that is quite miraculously uncoordinated.

Reed’s main takeaway is that, rather than try to stifle or control these creative energies, we ought to “organize society to act in harmony with this lesson,” permitting “these creative know-hows to freely flow.” In doing so, he concludes, we will continue to see such testimonies manifest — evidence for a faith “as practical as the sun, the rain, a cedar tree, the good earth.”

In his book, Work: The Meaning of Your Life, Lester DeKoster explores the theological aspect of this phenomenon, noting God’s grand design in these webs of service and exchange. For DeKoster, this “practical faith” points rather clearly to a Creator, and when we recognize it, we begin to see how His purposes might manifest through our work in ways out of our immediate control or humanistic intent.

Echoing Reed’s essay, DeKoster refers to this web of exchange as the “fabric of civilization,” stitched together with the “countless tiny threads” of human work, each dependent on the other, but each mysteriously guided by an independent source. (more…)

In the United States, we’ve only begun to see how impediments to religious liberty can harm and hinder certain businesses and entrepreneurial efforts. Elsewhere, however, particularly in the developing world, religious restrictions and hostilities have long been a barrier to economic growth.

To identify these realities, Brian Grim of Georgetown University and Greg Clark and Robert Edward Snyder of Brigham Young University conducted an extensive study, “Is Religious Freedom Good for Business?,” which concludes that “religious freedom contributes to better economic and business outcomes.”

Katrina Lantos Swett and Daniel Mark summarize the key findings at Investor’s Business Daily:

Reviewing the GDP growth of 173 countries while controlling for 23 financial, social and regulatory factors, [Clark and Snyder] found that religious freedom not only is associated with global economic growth, but also is one of only three factors carrying that association.

As the study found, 20% of countries with low levels of religious hostilities and 20% nations with low levels of government restrictions on religion were economic innovators, while the figures for nations with high levels of hostilities and restrictions were only 8% and 7%, respectively.

(more…)