Acton Research Director Samuel Gregg is featured on the July 29 episode of Liberty Law Talk. The conversation, which focuses on the too-often forgotten free-market economics of Wilhelm Röpke, can be downloaded online at the Library of Law and Liberty website. Gregg has written extensively on Röpke in the past and the conversation meets expectations as enlightening and thought-provoking. Be sure to check it out.
The Acton Institute’s staff is heavily featured in the July/August issue of Legatus Magazine. First, there is a brief review of the Rev. Robert Sirico’s new book, ‘Defending the Free Market’:
He shows why free-market capitalism is not only the best way to ensure individual success and national prosperity, but is also the surest route to a well-ordered society. Capitalism doesn’t only provide opportunity for material success, it ensures a more ethical and moral society as well.
Next is Samuel Gregg, Acton’s Director of Research. His Ethics column for Legatus focuses on the vocation of the Christian business person, as outlined in the document ‘The Vocation of the Christian Business Leader’ (VCBL), from the Pontifical Council for Justice and Peace:
This means that business leaders confront, often on a daily basis, enormous ethical and economic difficulties. The subsequent choices they need to make are not simple. While VCBL suggests that the state has a role in addressing many of these issues, it wisely refrains from entering into detailed policy recommendations about how governments should act in these areas. Instead, it indicates that in many instances the primary responsibility for addressing many such challenges lies with business leaders themselves.
Finally, Gregg is extensively quoted in the feature “Benedict: The ‘Green Pope’, which notes not only Benedict’s strong commitment to the preservation of natural resources, but the misguidance of the Green Movement:
“The Greens’ view of humanity is that we are just another aspect of the natural environment,” said Gregg. “Most are grounded in pantheistic ideology. Within the Greens’ ideology, human beings are bad and it’s better if there are fewer of us. This is why they are so adamant about mandatory contraception for developing countries and why they are so pro-abortion.”
The Catholic Church teaches that human beings are made in the image and likeness of God — and that they are intrinsically good and capable of innovation.
“What’s distinctive about Pope Benedict is that he asks the Greens why there is this degree of disrespect for the human person, which comes out in Green policies,” Gregg said. “They have a false conception on anthropology. Within deep Green writings on the environment, you see a certain ‘humanophobia’ at work, which is materialistic and paganistic.”
Read the July/August issue of Legatus Magazine here.
Have a new book, or one not so new, that you’d like to recommend to PowerBlog readers for packing away to the beach and vacation spot? Add your picks to the comment box on this post.
Let’s begin with five books selected by Acton Research Director Samuel Gregg, who was a contributor to National Review Online’s symposium, “Got Summer Reading?”
By Samuel Gregg
For those who sense we’re presently reliving the 1930s (sigh), this is the book Paul Krugman and the other high priests of the economic left don’t want you to read. Anyone searching for an account of the New Deal that simply tells the truth about how and why it failed will benefit from reading Amity Shlaes’s The Forgotten Man (2008). Her well-written narrative of the Roosevelt administration’s failures and arbitrariness as it wrestled with the Great Depression not only reveals the New Dealers as truly out of their depth; it also indirectly raisesquestions about some disturbing trends in contemporary American political and economic life.
Another book that gets beneath superficial commentary on a subject that needs further discussion is David Satter’s It Was a Long Time Ago, and It Never Happened Anyway (2012). As we all know, the Left in America and Europe (in fact, everywhere) has never really acknowledged the full barbarity of Communism. Satter’s text, however, underscores just how much denial and downplaying of the sheer moral and physical destruction wrought by the Soviet experiment continue to poison contemporary Russian politics and culture. (more…)
In response to the Supreme Court ruling on Obamacare’a individual mandate, National Review Online launched a symposium — a roundup of commentary — which posed the following question: “What’s next for both conservatives and the Republican party on health-care reform?” Acton Research Director Samuel Gregg contributed this analysis:
Leaving aside the arguments that will continue about the SCOTUS ruling on Obamacare, one response of those who favor free markets and limited government must be for them to start preparing themselves for what will eventually happen, regardless of the results of the 2012 presidential election. And that’s Obamacare’s eventual economic demise. The economic track record of socialized medicine is very clear. Sooner or later, it implodes. Britain’s National Health Service is a perfect example. Even Sweden has realized that socialized medicine (and generous welfare states more generally) are unaffordable in the long term, and it has begun allowing private providers into its health-care market. In short, Obamacare’s essential economic unfeasability and extensive bureaucratization of health care (not to mention its disproportionately negative impact on the poor) will become all too clear in time. When that happens, conservatives must have off-the-shelf plans ready to go in order to restore sanity to the asylum of socialized medicine.
However, it’s also plain that conservatives, beyond citing the raw economics of real health-care reform, must ballast their case against socialized medicine with moral and cultural arguments. Far too many conservatives and free marketers critique socialized medicine almost solely in terms of efficiency and effectiveness. Economic analyses and arguments are important, but not many people will put everything on the line for a calculus of utility. Instead, critics must draw attention to the ways in which socialized medicine (1) saps personal responsibility, (2) facilitates the spoiled-brat entitlement mentality presently reducing much of Europe to an economic laughingstock, and (not least among such concerns) (3) creates an impossible situation for those of us who on grounds of faith and reason cannot and will not participate in schemes that legally require us to cooperate in other people’s choices for moral evil.
We can win numerous economic arguments. In some respects, that’s actually the easy part. But until we decisively shift — and win — the moral debate, the battle will be uphill all the way.
Read other viewpoints on NRO’s “What’s Next for the Opposition?”
In short, the EU’s transactions-tax scheme reflects a long-standing desire to “throw sand” in the wheels of financial globalization. Its origins lie in what’s called the “Tobin tax,” named after the American economist James Tobin, who argued in 1972 for the levying of a 0.5 percent tax on all spot-currency conversions. The point, for Tobin, was to discourage “speculators” who “invest their money in foreign exchange on a very short-term basis.”
Unfortunately for its advocates, there’s considerable evidence that Tobin-like taxes on financial transactions don’t reduce volatility. In the midst of financial crises, long-term and short-term investors behave in very much the same way — they get out, and transaction taxes don’t prevent them from abandoning ship. Greece, for example, currently applies a transaction tax to the sale of Greek-listed shares. That, however, isn’t doing much to prevent the present exodus of capital from Greece.
Taking the broader view, it’s hard to avoid concluding this latest EU harmonization boondoggle is about two things. First, it’s a way for EU officials and governments to appear to be punishing European financial institutions for their contributions to Europe’s economic crisis. Second, it reflects the general European failure to come to grips with some of the deeper problems contributing to Europe’s debt crisis.
Read “Financial Fiddling while the Euro Burns” by Samuel Gregg on NRO.
… Capaldi and Malloch are—refreshingly—unabashed American exceptionalists. One of this book’s strengths is the way that it brings to light a critical element of that exceptionalism through the medium of spiritual capital. Part of the American experiment is its commitment to modernity—but a modernity several times removed from that pioneered by the likes of the French revolutionaries, Karl Marx, and modern social democratic movements in Europe. Capaldi and Malloch underscore how America’s spiritual inheritance permeated the political and economic habits and institutions associated with the emergence of its democratic and capitalist order, and in ways that avoided the challenges of theocracy as well as moral relativism. (more…)
“The truth, however, is rather more complex. One factor at work is economic globalization. Businesses fed up with unions who think that their industry should be immune from competition are now in a position to move their operations elsewhere — ranging from the southern states of America, to China, India, and other developing countries — where people and governments enthusiastically welcome the influx of knowledge, capital, and jobs. In this regard, it’s always struck me as ironic that unions in developed countries regularly act in ways that essentially hamper economic and employment growth in developing nations. So much for the “international solidarity of workers.” Comradeship apparently stops at the Rio Grande. (more…)
Writing on The American Spectator website, Acton Research Director Samuel Gregg looks at the strange notion of European fiscal “austerity” even as more old continent economies veer toward the abyss. Is America far behind?
Needless to say, Greece is Europe’s poster child for reform-failure. Throughout 2011, the Greek parliament passed reforms that diminished regulations that applied to many professions in the economy’s service sector. But as two Wall Street Journal journalists demonstrated one year later, “despite the change in the law, the change never became reality. Many professions remain under the control of professional guilds that uphold old turf rules, fix prices and restrict opportunities for newcomers.” In the words of one frustrated advisor to German Chancellor Angela Merkel, “Even when the Greek Parliament passes laws, nothing changes.”
Politics helps explain many governments’ aversion to reform. Proposals for substantial deregulation generates opposition from groups ranging from businesses who benefit from an absence of competition, union officials who fear losing their middle-man role, to bureaucrats whose jobs would be rendered irrelevant by liberalization. The rather meek measures that Europeans call austerity have already provoked voter backlashes against most of its implementers. Not surprisingly, many governments calculate that pursuing serious economic reform will result in ever-greater electoral punishment.
In any event, America presently has little to boast about in this area. States such as Wisconsin have successfully implemented change and are starting to see the benefits. But there’s also fiscal basket-cases such as (surprise, surprise) California and Illinois that continue burying themselves under a mountain of debt and regulations.
Read “Why Austerity Isn’t Enough” by Samuel Gregg on The American Spectator.
Is it “game-over” for so-called cafeteria or dissenting Catholics? In a Crisis Magazine article, Acton’s Samuel Gregg, Director of Research, says it is.
The demographic evidence for impending extinction is striking. The average age of members of female religious orders that are moving “beyond Jesus” into an alternative spiritual universe is over 70. This contrasts with those orders who joyfully embrace Catholic faith in all its fullness. They’re positively flourishing. Similarly, it’s very hard to find dissenters among seminarians – also growing in numbers – and priests below 50.
Gregg points to the internal crisis within “liberal” Catholicism: they’ve raised children who care little or nothing about the Church and therefore have no one to carry forth their banner, and their reliance on “feelings” to guide their efforts to change immutable truths. They never learned reason, only skepticism.
To evangelize modernity, however, means Catholics not only need to understand but also critique it and convert it to the fullness of the truth of which the modern world is but a pale shadow. Fortunately, in the teachings of Vatican II, Paul VI, Blessed John Paul II, and Benedict XVI, we have a road-map for precisely such an engagement: a path obscured for decades by the dissenting generation’s equivocations and hang-ups. Embracing this way of proceeding is crucial, especially if the Church is to reach those nominal Catholics who are in many ways the victims of three generations of non-catechesis in the faith.
In the meantime, watch for escalating incoherence from dissenting Catholics as they fade from the scene. Judging from the “beyond Jesus” nuns’ reaction to some simple home-truths about just how far they have wandered from the Catholic faith, it won’t be pretty. But that’s all the more reason to pray for them. For no matter how great our intellectual and moral errors, the Truth can set anyone free.
Read more here.
In a recent speech, President Obama invoked Scripture to justify his ambitious spending plans. In this week’s Acton Commentary (published May 25), Acton Research Director Samuel Gregg notes that the president said nothing about the role of private communities and associations in helping our brothers and sisters in need. What’s more, “our leader hasn’t noticed that even some European governments, many of whom have been handing out as much pork as possible to politically-connected, politically-correct crony-capitalists over the past 15 years, are concluding many of these projects aren’t likely to be economically-viable either now or in the distant future,” Gregg writes. The full text of his essay follows. Subscribe to the free, weekly Acton News & Commentary and other publications here.