My older son’s college psychology class was recently assigned the film A Beautiful Mind, about the Nobel Prize winning economist and schizophrenia sufferer John Nash. The assignment was to watch the film, dig into Nash’s biography, and report on how the film altered Nash’s story of mental breakdown and recovery.

78A_Beautiful_Mind

We watched the film together as a family (my second viewing), checked out the biography by Sylvia Nasar from a local library, and generally geeked out on Nash and game theory at the family dinner table over the next few days.

An additional motivation for the interest was that my mom’s engineer brother, my Uncle Milton, was a classmate of Nash’s at Carnegie Tech in the 1940s, with the two reconnecting at their 50th college reunion. In our digging into the Nash’s biography, we learned something of particular relevance to Acton Institute friends and followers, something I probably should have known already but didn’t: Nash’s decisive contribution to game theory likely has Austrian economics in its blood line. (more…)

Blog author: jcarter
Monday, June 9, 2014
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West moves away from Russia as the country returns to Orthodoxy, Lavrov believes
Interfax

Russian Foreign Minister Sergey Lavrov states that Russia returns to traditional spiritual values and it is one of the reasons why the West distances from it.

Pope Francis sacks entire board of Vatican’s financial watchdog
Philip Pullella, The Independent

Pope Francis sacked the five-man board of the Vatican’s financial watchdog on Thursday – all Italians – in the latest move to break with an old guard associated with a murky past under his predecessor.

In Defense of the Phrase “Faith and Work”
Greg Forster, Hang Together

Recently I’ve heard several major leaders in the faith and work movement criticizing the fact that we call it the “faith and work” movement. I rise in defense of the phrase.

A happy epilogue for the Cold War
Phil Lawler, CatholicCulture.org

One of the most enduring visual images of the Cold War—one of the early signs that the Soviet empire was doomed—was the sight of General Wojciech Jaruzelski, the Polish strongman, literally shaking as he addressed the enormous crowd that gathered to greet St. John Paul II on his triumphant return to his homeland.

Unaccompanied minors being held in Texas by Border Security

Unaccompanied minors being held in Texas by Border Security

It has long been apparent that U.S. borders are far from secure. Border patrol agents are stretched thin, especially along the southern states, dealing with illegal immigrants, human traffickers and smugglers, and the drug cartels. Now, there is a new problem with no easy solution: children teeming into the U.S., many under the age of 12. According to The Washington Times,

The flood of young children pouring across the southwestern border is worse than the administration has previously acknowledged, and efforts to deal with unaccompanied minors are overwhelming the Border Patrol, distracting it from going after smugglers and other illegal immigrants, according to an internal draft memo from the agency.

The four-page memo, authored by Deputy Border Patrol Chief Ronald D. Vitiello and dated May 30, contradicts the administration’s argument that the border is secure enough to begin legalizing current illegal aliens already in the U.S.

According to estimates in the memo, about 90,000 children have been apprehended by law enforcement so far in 2014, up from 40,000 in 2013. Of course, these numbers are only the children that were apprehended; there were no estimates for how many unaccompanied minors actually crossed the border. The children are coming from Mexico and Central America and cite poverty and violence as the reason they are seeking life in the U.S. The journey is exceedingly dangerous, especially for girls, who face sexual assault at a much higher rate than boys. (more…)

bankruptcyThe Bible has a lot to say about the principles behind bankruptcy law, says T. Kyle Bryant. In the Old Testament, God gave Moses various laws concerning the poor, lenders, borrowers, and debt forgiveness.

From these passages, we get a glimpse of how God makes provision for people who cannot pay their debt after a certain number of years. Beside discouraging lenders from making “bad” loans (ones that could not be repaid in seven years), the law prevented overwhelming debt from ruining a person’s life forever. In this way, God’s law provided for a type of bankruptcy protection every seven years (and every 50 years for land).

The United States bankruptcy scheme is complex, but the similarities between it and the biblical system are striking. Both systems served to protect the relatively powerless consumers and give predictability and stability to the creditors. For example, in the Israelite law, debtors could be released from their debts every seven years—no matter the amount of the debt, it was gone. This prevented common debtors from having to sell themselves into slavery in perpetuity to pay for their debts. On the other hand, it gave a stable and predictable risk profile to creditors seeking repayment of those debts. Lenders could temper their desire to make risky loans with the knowledge that any chance of repayment after the seventh year was uncertain.

In a similar way, the Bankruptcy Code allows a person freedom from their debt every eight years. Chapter 7 of the Bankruptcy Code governs (in large part) individual debtors and the discharge of a person’s debt. If someone has received a discharge of their debt under Chapter 7, they must wait eight years before they can file for bankruptcy again. This echoes the biblical pattern of debt being wiped away every seven years. (But whether this tempers creditors’ risky lending practices is another question).

Read more . . .

Blog author: jcarter
Friday, June 6, 2014
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Will Catholics Comply?
Michael Gorman, First Things

The Bishops said they couldn’t go along with the HHS mandate. Will they in the end?

More evidence that giving poor people money is a great cure for poverty
Dylan Matthews, Vox

As solutions to global poverty go, “just give poor people money” is pretty rock solid. A recent randomized trial found that Kenyans who received no-strings attached cash from the charity GiveDirectly built more assets, bought more goods, were less hungry, and were all-around happier than those who didn’t get cash.

How to Form a Real Conscience
Anthony Esolen, Crisis Magazine

It is also impossible to admit your need for a master if you won’t accept a truth unless it can be expressed so as to satisfy your intellect, here, now. What seems to be a paradox is easy to resolve once we consider the difference between nobility and what Max Scheler called ressentiment, in his remarkable book of that name.

Is Capital a Blessing or a Curse?
Shawn Ritenour, Institute for Faith, Work, and Economics

“Capital is opposed to labor, and the rich get richer while the poor get poorer” is a phrase heard all too often. It’s often repeated by those who misunderstand the true economic relationship between capital formation and the productivity and real income of workers.

Evan Koons just posted the first video blog, or “vlog,” in support of For the Life of the World: Letters to the Exiles, a new educational video series from the Acton Institute.

The series, which follows Koons on a creative journey to discover “God’s Economy of All Things,” begins by laying the framework that Koons alludes to here.

As he wrote in a recent article for Q Ideas:

We are being called by God to spend the remainder of our days serving our captors, working with them (not fighting them or conforming to them or fleeing from them—but serving them) and compromising nothing. It’s rooted in the belief that all of our vocations (family, work, public service, education, art, and more) matter.

For new vlogs and other resources from Koons & Company, check out the FLOW blog (add it via RSS), subscribe to the YouTube page, and follow FLOW on Facebook and Twitter.

View the trailer and pre-order your own copy here, discounted at 50% off for a limited time, until June 15.

father knows bestNew York Times columnist and Acton University 2014 plenary speaker Ross Douthat is featured in an interview with the Institute for Family Studies. Douthat addresses issues surrounding marriage and family life, pop culture influences and the media.

Douthat says that he had thought that the idea of a mom and dad, living with their biological kids, was a “given” in our culture as the best model for a healthy society. Now, he says, our world has thrown a lot of variables into the mix. Particularly, backers of same-sex marriage (SSM) have successfully created a cultural model of “it doesn’t matter:”

A lot of supporters of SSM have become invested (for understandable reasons) in the idea that married same-sex parenting will produce the same outcomes as married biological parenting—or maybe better outcomes! If they’re right, then the “biological” part of the equation you describe no longer obtains, and the story cultural conservatives have been telling, which seemed close to becoming a consensus just a little while ago, will have to be revised. And if SSM supporters are wrong, and same-sex parenting is associated with somewhat worse outcomes for children—well, it’s going to take a long time and a lot of data to prove it, and there will be tremendous elite cultural resistance even then. So wherever the evidence ultimately takes us, same-sex marriage has probably made consensus on a familial ideal somewhat harder to achieve, and created ripple effects that will be spreading out for years.

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