Posts tagged with: Michael Novak

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.

Does the free market encourage moral behavior? Virgil Henry Storr, Research Associate Professor in the Department of Economics at George Mason University, recently wrote a report called “The Impartial Spectator and The Moral Teachings of Markets.” He addresses critics’ concerns that the free market brings out and nurtures human vices.

Countless commentators have stated that “engaging in market activity can be corrupting.” Storr highlights two notable quotes. Aristotle “believed that there was something unnatural about the kind of wealth getting that occurred in the market.” Karl Marx “believed that the market could transform man into a ‘spiritual and physical monster.’”

Storr, who is also Director of Graduate Student Programs in the Mercatus Center, addresses these famous claims with quotes from those who have “made the point that markets are moral training grounds where virtues are rewarded and cultivated.” Michael Novak stated that engaging in trade “teaches care, discipline, frugality, clear accounting, providential forethought … fidelity to contracts, honesty in fair dealings, and concern for one’s moral reputation.” Deirdre McCloskey, Distinguished Professor of Economics at the University of Illinois at Chicago, says:

Capitalism has not corrupted the spirit. On the contrary, had capitalism not enriched the world by a cent nonetheless its bourgeois, antifuedal virtues would have made us better people than in the world we have lost. As a system it has been good for us.”

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As Michael Novak observes in The Spirit of Democratic Capitalism, “A successful corporation is frequently based upon the principle of subsidiarity. According to this principle, concrete decisions must be made on the level closest to the concrete reality. Managers and workers need to trust the skills of their colleagues. A corporate strategy which overlooks this principle–and many do–falls prey to all the vices of a command economy, in which all orders come from above.”

According to a study by Melba J. Duncan in the Harvard Business Review, such delegation makes economic sense: “Generally speaking, work should be delegated to the lowest-cost employee who can do it well.”

A recent BusinessWeek article updates the case for executive assistants. Anyone who has had significant contact with corporate settings knows that the EAs are the ones who really get things done. But for such delegation to be effective and efficient, it must be empowering. As Duncan writes, “The most effective executives think deeply about the pieces of their workload that can be taken on—or restructured to be partially taken on—by the assistant.”

Even the “lowest-cost employee” has a stewardship responsibility.

Of course, delegation can go too far, too.

Today the Acton Institute announced the 2013 Novak Award winner. Full release follows:

Although he has only recently obtained his doctorate, David Paul Deavel’s work is already marking him as one of the leading American scholars researching questions of religion and liberty. In recognition of his early promise, the academic staff at the Acton Institute has named Deavel the recipient of the 2013 Novak Award.

Deavel is an associate editor of Logos: A Journal of Catholic Thought and Culture and a contributing editor for Gilbert Magazine. He is also currently a Fellow of the Center for Catholic Studies at the University of St. Thomas (Minn.), where he teaches courses in the Department of Catholic Studies and the St. Paul Seminary.

Deavel pursued his undergraduate degrees in philosophy and English literature at Calvin College in Grand Rapids, Mich., and earned a Ph.D. in historical theology from Fordham University in New York.

Much of Deavel’s research and writing has been on topics related to the Catholic intellectual tradition, most often reflecting his acquaintance with John Henry Newman and G.K. Chesterton. His writing has appeared in numerous books and a wide variety of popular and scholarly journals including America, Books & Culture, Catholic World Report, Chesterton Review, First Things, Journal of Markets and Morality, National Review, Nova et Vetera, New Blackfriars, and Touchstone.

He is a native of Bremen, Ind., and a 1992 graduate of Bremen High School. Deavel currently lives in St. Paul, Minn., with his wife, Catherine, a philosopher at the University of St. Thomas, and their five children.

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. The Novak Award comes with a $10,000 prize.

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 here.

JMM_15.2_WebThe newest issue of the Journal of Markets & Morality has been published. The issue is available in digital format online and should be arriving in print in the next few weeks for subscribers. This issue continues to offer academic engagement with the morality of the marketplace and with faith and the free society, including articles on economic engagement with Pope Benedict XVI’s encyclical letter Caritas in Veritate, biblical teaching on wealth and poverty, schools as social enterprises, the Reformed philosopher Herman Dooyeweerd’s economic theory, and much more.

As we have done in the past, Jordan Ballor’s editorial is open access, even to non-subscribers. In “Between Greedy Individualism Editorial and Benevolent Collectivism” he examines the enduring impact of Michael Novak’s The Spirit of Democratic Capitalism, writing,

At the time of its publication, Novak’s work must have been like a window thrust wide open in a dank room, introducing a breath of fresh air and the sanitizing rays of sunlight. Against ideologies that posit state power as a neutral or even benevolent force arising of necessity against the rapaciousness of the market, Novak observed instead that it was democratic capitalism that arose first as a system designed to check the invasiveness of state tyranny. The “founders of democratic capitalism,” wrote Novak, “wished to build a center of power to rival the power of the state.” Indeed, “they did not fear unrestrained economic power as much as they feared political tyranny.” Still more would they fear the union of economic and political power that we find all too often today in corrupt and cronyist regimes.

You can read his full editorial here. (more…)

Rome contributor to ZENIT, Stefanie DeAngelo, recently interviewed the Acton Institute’s 2012 Novak Award winner, Professor Giovanni Patriarca. During the interview Prof. Patriarca speaks candidly about some of his academic influences, including Michael Novak and Benedict XVI. He also offers his reasons for hope in overcoming the prolonged global economic crisis.

Some Contemporary Reflections: An Itinerary from Novak to Benedict XVI

by Stefanie DeAngelo

2012 Novak Award Winner Prof. Giovanni Patriarca

ZENIT: You have recently received the Novak Award. What are some of the major contributions of the American philosopher and theologian to our thinking about the current state of the world?

Patriarca: The work of Dr. Michael Novak is so rich that it is not easy to summarize it in a few thoughts. In addition to his famous works on economics, a number of his articles published in the last few years, especially in the journal First Things, explores some of modernity’s contradictions regarding individual and social responsibility and the demise of traditional values that were held by previous generations. As Alexis de Tocqueville also warned, the loss of a metaphysical perspective, leads to materialism and the absurdity of nihilism. (more…)