Posts tagged with: Michael Novak

Blog author: jballor
Wednesday, July 23, 2014
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Giotto di Bondone - No. 27 Scenes from the Life of Christ - 11. Expulsion of the Money-changers from the Temple - WGA09209Last month the New York Times hosted a discussion on the question, “Has Capitalism Become Incompatible With Christianity?” There’s lots to be said about the “Room for Debate” feature, including a note on the caption for the lead image in the introduction.

The image is a rendering of the classic scene from the Gospels, Jesus’ cleansing of the temple. The NYT caption reads thus: “Jesus comes down hard on the bankers of his day.” Perhaps that’s a bit of ideological balance for the phrasing of the debate question itself, which supposes that at least at one time that “capitalism” and Christianity were compatible, even if they are no longer.

Occasioned by the NYT feature, although not a direct response, is a piece today over at Think Christian, in which I introduce what I consider to be some important distinctions to keep in mind when thinking about the Christian faith and economics.
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searching-blindfolded-manIn the latest edition of First Things, Acton’s Director of Research Sam Gregg discusses how adherence to Catholic social teaching does not require a limited economic viewpoint. In fact, such a limited vision, or blindness as Gregg states in the article’s title, is what holds back development in many parts of the world. (Please note that the full article is available by subscription only, but is excerpted here.)

Gregg recounts how the aggressive or “Tiger” economies of East Asia have resulted in positive changes, despite problems such as endemic corruption.

To be sure, not everything is sweetness and light in East Asia. Memories of the region’s severe financial meltdown in 1997 linger. More ominously, China’s mammoth banking system is a hopelessly run extension of its government. The same banks are heavily and rather incestuously invested in propping up thousands of underperforming Chinese state-owned enterprises. That’s a recipe for trouble. Corruption remains an endemic problem, most notably in China and India, which rank an unimpressive 96 and 134, respectively, in the World Bank’s 2014 Ease ofDoing BusinessIndex, while Singapore, Hong Kong, South Korea, Malaysia, and Thailand are ranked in the top twenty.

Nonetheless, the overall benefits of greater economic liberty in East Asia can’t be denied. In 2010, the Asian Development Bank reported that per capita GDP increased 6 percent each year in developing Asian countries between 1990 and 2008. Christians should especially consider how this growth has contributed to the reduction of poverty. The ADB estimated that between 1990 and 2005 approximately 850 million people escaped absolute poverty. That is an astonishing figure.

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Writing for Canada’s National Post, Acton University lecturer Fr. Raymond de Souza calls our attention to the 25th anniversary this year of the defeat of communism and observes that “there are new questions about the unity of liberties.” In the 1980s, he writes, “when in the Gdansk shipyard the workers began to rattle the cage of communism, they demanded economic liberties (free trade unions), personal liberties (speech, the press), political liberties (democracy), legal liberties (against the police state) and religious liberty (the strikers insisted upon public worship in the shipyard itself).”

In continuity with older revolutions and even older political philosophy, he adds, “the liberties demanded were thought to be all of a piece. Liberty was not divisible, it was thought and often said. Today that question is is up for debate.”

For his National Post column, Fr. de Souza interviewed theologian Michael Novak — also lecturing at Acton U. in Grand Rapids, Mich., this week.

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Mark Tooley of IRD highlights a talk by Michael Novak, “Jesus Was a Small Businessman.” Speaking to students at the Catholic University of America, Novak observed:

When he was the age of most of you in this room, then, Jesus was helping run a small business. There on a hillside in Nazareth, he found the freedom to be creative, to measure exactly, and to make beautiful wood-pieces. Here he was able to serve others, even to please them by the quality of his work. Here he helped his family earn its own way. Creativity, exactitude, quality, beauty, service to others, independence – this was the substance of his daily life. In preparation for all that was to come.

Novak’s claims about Jesus being a small businessman may be a bit provocative, as Tooley puts it, but hopefully in a positive sense of provoking greater considered reflection.

John Everett Millais - Christ in the House of His Parents (`The Carpenter's Shop') - Google Art Project

Indeed, Novak’s claims have a clear precedent in CST, as in Laborem Exercens section 26, titled “Christ, the Man of Work,” which reads in part: “For Jesus not only proclaimed but first and foremost fulfilled by his deeds the ‘gospel’, the word of eternal Wisdom, that had been entrusted to him. Therefore this was also ‘the gospel of work’, because he who proclaimed it was himself a man of work, a craftsman like Joseph of Nazareth.”

You can read the whole text of Novak’s address, “For Catholics, the Vocation of Business is the Main Hope for the World’s Poor,” given at CUA this past January.

Philosopher and theologian, Michael Novak recently delivered a speech at the Catholic University of America on the vocation of business and Forbes published the transcript. Novak argues that “capitalism is lifting the world out of poverty.” As many Asian and African economies shift from socialist to capitalist, they are seeing enormous economic growth, and small businesses are the force behind these economic gains:

Even in developed nations, most jobs are found in small business. In Italy, over 80 percent of the working population works in small businesses. In the U.S., the proportion is just about 50 percent, but some 65 percent of new employment is in small businesses.

During the great economic expansion of 1981-1989, the U.S. added to its economy the equivalent of the whole economic activity of West Germany at that time. Sixteen million new jobs were created in the U.S., the vast number of them in small businesses. Startups peaked as new businesses came into being at a rate of 13 percent (as a portion of all businesses) – an all-time high. Much the same happened under Clinton in 1993-2001, but even better – 23 million new jobs were created.

In the creation of small businesses, four factors are necessary. First, ease and low cost of incorporation; second, access to inexpensive credit; third, institutions of instruction and technical help (such as the system of local credit unions in the U.S.), and the steady assistance of the extension services of the A&M universities; and, fourth, throughout the population habits of creativity, enterprise, and skills such as bookkeeping and the organization of work. Economic development is propelled, as John Paul II said, by know-how, technology, and skill (Centesimus Annus 32). Therein, perhaps, lie the greatest entry-points for Americans and others who wish to help poor nations by proffering assistance in economic development from the bottom up. (more…)

oskari-novak

Today the Acton Institute announced the 2014 Novak Award winner. Full release follows:

A rigorous researcher and sound contributor to various academic disciplines and initiatives, Finnish native Oskari Juurikkala has been selected as the recipient of the 2014 Novak Award by the Acton Institute in recognition of his early promise as a scholar.

Educated in both law (London School of Economics) and economics (Helsinki School of Economics), he earned a joint Ph.D. in law and economics from the University of Eastern Finland in 2012.

Before starting his doctoral thesis, Juurikkala was a researcher at the Institute of Economic Affairs in London. He has also worked as economic policy advisor as well as researcher at the Institute of International Economic Law at the University of Helsinki. Much of his time has been spent teaching various university-level courses, including law and economics, intermediate microeconomics, business ethics, and the economics and politics of European integration.

Juurikkala has published on a range of topics including regulation of financial derivatives, venture capital, philosophy of economics, the history of economic thought, and natural law jurisprudence. He has also written a monograph on pension reform, entitled Pensions, Population, and Prosperity (Acton Institute, 2007). He is currently pursuing post-graduate studies in dogmatic theology at the Pontifical University of the Holy Cross in Rome. (more…)

NovakIt is no stretch to say that Michael Novak is a towering figure in 20th century Catholic social thought. His 1982 seminal work, The Spirit of Democratic Capitalism, influenced thinkers in the U.S., Latin America and Soviet-controlled countries. George Weigel has summed up Novak’s vocation and contribution to Catholic social teaching, economic thought and moral culture in an article at City Journal. Weigel begins by stating that Novak’s work wasn’t simple:

Novak has applied his philosophical and theological skills to virtually every consequential aspect of the human condition. He has not followed a preset itinerary but has deliberately charted previously unexplored territories and terrain. That choice—to break out of conventional patterns of thought and become one’s own intellectual GPS—has not always made for an easy life.

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iraqThe National Catholic Register asked prominent Catholic intellectuals Michael Novak and George Weigel to address the current U.S. involvement in Syria and its involvement with Iraq 10 years ago. While both supported the Bush administration’s decision to invade Iraq in 2003, they have a different take on the current situation with Syria.

First, George Weigel;

There were obviously a lot of things that could have been done better in securing the peace after the regime fell,” he acknowledged, in a reference to the Bush administration’s inadequate planning for both an on-going jihadist threat and the costs of rebuilding a battered nation.

“But anyone who thinks that the world or the Middle East would be better in 2013 with Saddam Hussein in power in Baghdad, having re-ramped-up his WMD [weapons of mass destruction], is living in a fantasy world.”

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As David Deavel points out, free market economists and distributists “are often at each others’ throats.” Deavel is attempting to scrutinize distributism – what it is and what it isn’t – in a series at Intercollegiate Review. He claims that while piece of cakedistributism has its flaws, it has some valid points and there is much good to be found in the arguments of distributists.

So what it distributism?

Distributists like to describe themselves as an alternative or third way that avoids what they describe as the pitfalls of both capitalism and socialism.  They also claim that their system (alone, they sometimes say), is faithful to papal social teaching and the Catholic social tradition more broadly.  Their goal, they claim, is a society of widely distributed property and widely distributed wealth and power.  This differs, they say, from both socialism, in which the state owns the means of production, the vast bulk of wealth, and all power, and from capitalism, which is, they say, a system in which a very few private people own the means of production, wealth, and have the lion’s share of power.

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Acton’s enormously exciting FIRE SALE continues in the Acton Audio Store! We’ve marked down prices on our 2012 Acton University audio by SEVENTY-FIVE PERCENT! Talks by luminaries such as Michael Novak, Eric Metaxas and Arthur Brooks are available for the low, low price of fifty cents! You’d have to be crazy not to check it out!

THIS ISN'T A FEVER!

AND… scene.