At Desiring God, John Piper explains how both the act and product of work are blessings, and that the God-designed essence of work is creativity — “not aimless, random doing, but creative, productive doing.”

In addition to avoiding the hump of idleness, this means being ever diligent, discerning, obedient, and energetic in the work of our hands:

When the book of Proverbs tells us to go to the ant and learn how to work hard and work smart (Proverbs 6:6–11), and when Paul tells us to “work heartily, as for the Lord” (Colossians 3:23), they are not cursing us. They are pointing to our glory and our joy…

…Work is a glorious thing. If you are starting to grow lazy, I summon you back to joy. God made us to work. He formed our minds to think and our hands to make. He gave us strength — little or great — to be about the business of altering the way things are.

That is what work is: seeing the world, thinking of how it could be better, and doing something — from the writing of a note to the building of a boat; from the sewing of what you wear to the praying of a prayer.

Come, leave off sloth and idleness. Become what you were made to be. Work. (more…)

polish moneyPoland’s prime minister, Donald Tusk, announced Wednesday that the government would attempt to cut government debt by taking money from its citizens’ private pension funds. Poland currently has a two-fold pension system: mandatory contributions are made to the state pension fund and then to private funds. It is the state funds, known as ZUS, that the Polish government plans to “transfer” money from. According to Reuters:

…Prime Minister Donald Tusk said private funds within the state-guaranteed system would have their bond holdings transferred to a state pension vehicle, but keep their equity holdings.

He said that what remained in citizens’ pension pots in the private funds will be gradually transferred into the state vehicle over the last 10 years before savers hit retirement age.


Blog author: jcarter
Friday, September 13, 2013

Can a Generation Own the Earth?
Bruce Frohnen, The Imaginative Conservative

“The earth belongs always to the living generation.” These are not Thomas Jefferson’s most famous words, but they are quite famous among students of politics.

Four in Ten College Grads Don’t Need a Degree for Their Work
Walter Russell Mead, The American Interest

A majority of American workers have jobs that do not require a college degree, according to a new Gallup poll.

Large Majority of Catholics Continue To Express Favorable View of Pope Francis
Pew Research

After six eventful months, Pope Francis is rated favorably by eight-in-ten U.S. Catholics (79%). Just 4% of Catholics say they have an unfavorable view of the first Latin American pope, while 17% express no opinion or say they have not heard enough about Francis to have an opinion.

Five Encouragements for Everyday Work
Joseph Scheumann, Desiring God

The Church, in all her glory, is vastly more lawyers, administrative assistants, doctors, construction workers, and mechanical engineers than she is vocational pastors and paid missionaries.

pope-car-2A couple of months ago I teased Pope Francis engaging in a “war on the Vatican’s luxury cars” while driving one of the greatest luxury cars of all time — the Popemobile. Although he probably won’t be able to give up his 160 mph, armor-plated, bullet-proof sedia gestatoria anytime soon, he’s make a bold, symbolic point with the latest addition to his fleet: a 1984 Renault 4.

Vatican spokesman, the Rev. Ciro Benedettini, says Francis accepted the 1984 Renault 4, donated for free by a priest in northern Italy who used it to visit poor parishioners. The four-door car, in papal white, is manual shift and has a new engine. Benedettini told The AP on Wednesday: “The pope intends to drive it.”

The donor, the 79-year-old Rev. Renzo Zocca, says he took Francis for a short drive in the car at the Vatican on Saturday and that Francis told him he knows how to drive it.

Zocca said he thinks Francis will use it for short commutes on Vatican grounds.

Imagine how uncomfortable it must make some of the cardinals to park their new BMWs and Mercedes in the Vatican parking lot next to the thirty-year-old Renault with the license plate “SCV 2.”

Well played, Francis. Well played.

In his latest column, Tyler Cowen points out that whatever economic recovery we’ve experienced has “largely bypassed young people,” arguing that such a development is bound to have an impact for years to come:

For Americans aged 16 to 24 who aren’t enrolled in school, the employment picture is grim. Only 36 percent are working full time, down 10 percentage points from 2007. Longer term, the overall labor-force participation rate for that age group has dropped 20 percentage points for men and 14 points for women since 1989.

This lack of jobs will damage the long-term careers of a big chunk of the next working generation. Not working after you finish school very often means missing out on developing the skills and habits that will serve you well later on. The current employment numbers are therefore like a telescope into the future labor market: a 23-year-old who is working part time as a dog walker, yoga instructor or retail clerk may be having fun, but perhaps will receive fewer promotions as a 47-year-old.

Cowen notes a higher minimum wage as one potential culprit, but argues that “the root causes run much deeper,” ranging from increasing uncertainty to expanding globalization to a newfound pickiness among employers. Arnold Kling offers some additional hypotheses, including the idea that decreases in child-rearing among the young-and-able will likely lead to decreases in a need or desire to work full-time. (more…)

Remember the “fiscal cliff”? It wasn’t a cliff.

Over at Neighborhood Effects, James Broughel asks the question, “Has the Sequester Hurt the Economy?”

So have the sequester cuts hurt the economy? One possible answer comes from a new paper by Scott Sumner of Bentley University. Sumner argues that cuts to government spending don’t have serious deleterious macroeconomic effects when the Federal Reserve is targeting inflation. This is because the Fed ensures that prices stay stable under an inflation targeting regime, which keeps demand stable even in the face of government spending cuts. Similarly, when the Fed stabilizes the price level it also offsets any beneficial effects that fiscal stimulus might have, which helps explain the lackluster results from the 2009 American Recovery and Reinvestment Act (aka the “stimulus”).

Implicit in Sumner’s theory is that expansionary austerity, or the idea that the economy can grow even in the face of large government spending cuts, is indeed possible. Some of my colleagues at the Mercatus Center have described other ways in which expansionary austerity is possible.

First of all, I would like to be clear that I do not disagree that “expansionary austerity” may be possible. Nor do I disagree that the sequester cuts have not significantly hurt the economy. However, while the sequester included spending cuts and, therefore, technically qualifies as “austerity,” it was not what everyone was making it out to be. (more…)

missstateAt least $8 million will be allocated to fund a new parking garage near David Wade Stadium at Mississippi State University. MSU, which is in Starkville, Miss. and far from the Gulf Coast, is 250 miles from Hurricane Katrina’s landfall. Jeff Amy of the Associated Press has more,

Part of a hotel-convention center complex planned around a former cotton mill, it’s blocks from Mississippi State’s football stadium. That’s not unlike the condominiums built for University of Alabama football fans in Tuscaloosa using Katrina-related tax breaks and subsidized borrowing.

Like Tuscaloosa, Starkville was part of the presidentially declared disaster zone, and Edwards said spending is appropriate because it helps fuel “a comprehensive recovery.”

While Mississippi funds the Starkville project and can’t seem to find uses for millions in other available funding, some recovery programs in coastal areas still visibly affected by the storm are out of money.

For example, a $3 million forgivable loan program in Hancock County has committed all its funds to local businesses trying to rebuild. Storm surge was at its most extreme in Hancock County, where Katrina made its final landfall.

“We had far more applicants than we had funds,” said Tish Williams, executive director of the Hancock County Chamber of Commerce. “We were the hardest hit and the last to get.”

Mississippi still has $872 million in unspent federal aid for Katrina relief. The AP story looks into other spending endeavors that seem to be unrelated to Katrina’s aftermath.

Frankly, anybody who witnessed and had to live through the devastation along the Mississippi Gulf Coast should be sickened by the report. Federal disaster relief, especially when we are talking about the billions of dollars given to Mississippi after Katrina, proves just too tempting to mismanage and abuse for state bureaucrats and politicians.