Rev. Sirico will be on Fox News’ “Your World with Neil Cavuto” at 4:20 EST to discuss the school shooting in Newport, Connecticut.
According to AEI author Mark Perry, there is another education-related “bubble” to worry about: the textbook bubble. He writes that this textbook bubble “continues to inflate at rates that make the U.S. housing bubble seem relatively inconsequential by comparison.” He continues, “The cost of college textbooks has been rising at almost twice the rate of general CPI inflation for at least the last thirty years.” Given that many students use loan money to purchase books as well as pay for classes, we might think of this as one of the many sources pumping air into the student debt bubble. But what choice do students (or professors, for that matter) have than to surrender to the textbook “cartel,” as Perry characterizes it? This bubble popping, while a bad thing for the textbook bubble-boys committed to the old, cartel-style model, could be a small relief and contribute to slowing the growth rate of the student debt bubble. (more…)
In this week’s Acton Commentary, “Spiritual Competition and the Zero-Sum Game,” I examine a standard complaint against the market economy: that it engenders what Walter Rauschenbusch called “the law of tooth and nail,” a competitive ethos that ends only when the opponent is defeated. In the piece, I trace some of the vociferousness of such claims to the idea of economic reality as a fixed or static pie:
The moral cogency of the argument against competition is enhanced in a framework where the goods that are sought after are static. Whether conceived of in terms of market share or the size of a firm, business and political leaders often use language that makes it seem as if economic gain comes at the expense of others.
Where goods are static, or otherwise limited in some way, the competitive stakes are raised. Of course we see this not only in market activities but in other areas of life as well, and perhaps these competitive realities are no better illustrated than in competitive sports. We saw numerous examples of competition in the past fortnight of Olympic coverage that ran the gamut from the good, the bad, and the ugly. One of the most memorable moments for me was the conclusion of the men’s 10k track race, when Mohamed Farah of the UK bested his American friend and training partner Galen Rupp. Here are two fierce competitors who embrace, and Rupp celebrates not only his own silver medal but his friend’s great gold-medal performance.
As I conclude in the commentary, competition that drives us to do and be better, in both spiritual and material terms, “ought to be celebrated rather than scorned.”
Ethical human agency is only possible with freedom. Freely turning to the good, which the Creator has given us, is the highest sign of human dignity. The proper exercise of freedom requires “specific conditions of an economic, social, juridic, political and cultural order”. (Compendium of the Social Doctrine of the Church, n. 137) The free market is one of these institutions. The free market is the most efficient instrument to guarantee the distribution of goods and services in society. Beyond efficiency, however, markets need sound ethical and cultural foundations. Only free markets can be ethical markets, and only ethical markets can function in freedom. One of these primary and universally recognized ethical principles is charity.
Call for Papers: “The State of the Consecrated Life in Contemporary Canada”
We are pleased to announce an extended deadline for the Call for Papers for the “State of the Consecrated Life in Contemporary Canada” Conference to be held on 25-26 January 2013 in Montreal, Quebec. This conference is held as a part of a Social Sciences and Humanities Research Council of Canada research grant that explores the state of consecrated life in contemporary Canada and seeks will bring together leading researchers from Canada and abroad to share research and insights on this important subject. For more information, please see the attached document or the conference website: www.consecratedlife.ca. The new deadline will be 31 July 2012. Please forward this information to any colleagues, students or contacts who might be interested.
International Congress on Medieval Studies, 9-12 May 2013. By the late medieval period, merchants formed an integral part of urban society; among their activities, they facilitated trade between city centers, participated in the governing of cities, and were patrons of churches and monasteries. At the same time, the wealth that they amassed and their sometimes morally dubious activities, such as money lending, often left merchants fearful of what the afterlife would bring, causing them to appeal directly to specific saints for intercession. This session seeks to explore the religious lives of these elite members of urban society, specifically considering the individual saints to whom merchants appealed for their earthly protection and heavenly salvation as well as the manner in which they made these appeals.
Call for Papers: “Technology and Human Flourishing”
2012 Baylor Symposium on Faith and Culture (Thursday, October 25-Saturday, October 27) Technology changes us—and the world around us—in countless ways. It eases our labor, cures diseases, provides abundant food and clean water, enables communication and travel across the globe, and expands our knowledge of the natural world and the cosmos. The stuff of science fiction is now, in many cases, reality, and it can make our lives longer, healthier, and more productive than ever. But technological advance is not without complication, and even ardent proponents of technology recognize that our present age of innovation is fraught with concern for unintended consequences.
Paper: “The Decision to Delay Social Security Benefits: Theory and Evidence”
John B. Shoven and Sita Nataraj Slavov, NBER Working Papers
Social Security benefits may be commenced at any time between age 62 and age 70. As individuals who claim later can, on average, expect to receive benefits for a shorter period, an actuarial adjustment is made to the monthly benefit amount to reflect the age at which benefits are claimed. We investigate the actuarial fairness of this adjustment. Our simulations suggest that delaying is actuarially advantageous for a large subset of people, particularly for real interest rates of 3.5 percent or below.
On Catholic World Report, Carl E. Olson interviews Rev. Joseph F. Naumann, the Archbishop of Kansas City, Kansas, about the HHS mandate, the Ryan budget, and what the Supreme Court ruling means for the religious freedom fight.
“There are always some people who feel that the Church is becoming partisan and political in this,” Archbishop Naumann said, referring to a collective response to the HHS mandate covering provision of contraceptives, abortion-inducing drugs and sterilization services that includes more than 40 lawsuits and the current, ongoing Fortnight for Freedom developed by the U.S. Conference of Catholic Bishops.
“But we try to point out to them that we didn’t pick the time, nor did we pick the fight,” he added. “We’re not trying to advance any agenda other than to protect what has been there. We either have to be silent and acquiesce to the mandate, or we have to make our voices heard at this point.”
Naumann has been an important figure in the U.S. Conference of Catholic Bishops (USCCB) as a member of the Committee on Pro-Life Activities and the Committee on Marriage and Family Life.
“Part of my concern, which I expressed at the bishops’ meeting (earlier this month in Atlanta) is that people – who have good intentions and motivations – have too often looked to massive government programs to help the poor,” he said, “yet we have a history now of almost 50 years with these programs and we don’t have fewer poor and we don’t have more people empowered. But we do have a weaker family life and weaker public morality. And so we have to look at it and ask, ‘Are these really the best ways to go about addressing the problem?’”
Read “We didn’t pick the time, nor did we pick the fight,” an interview with Archbishop Naumann by Carl E. Olson in Catholic World Report.
Acton President Rev. Robert A. Sirico continues to promote Defending the Free Market: The Moral Case for a Free Economy on radio and television across the country. Yesterday, Father Robert spent a full broadcast hour with Al Kresta on Ave Maria Radio’s Kresta in the Afternoon:
And if you missed it, here’s Father Robert’s appearance from yesterday on Your World With Neil Cavuto on the Fox News Channel:
UPDATE: Here’s the audio from Father Robert’s interview last night on the Hugh Hewitt Show:
If you haven’t ordered your copy of Defending the Free Market: The Moral Case for a Free Economy, what are you waiting for? For those who still need some convincing, Rev. Robert Sirico continues to make the media rounds, and we continue to bring you the highlights.
Last night, Rev. Sirico was the guest of Raymond Arroyo on The World Over on the EWTN network; you can watch his 20 minute appearance below:
Father Robert also made a radio appearance last night on WLCR in Louisville, Kentucky:
This morning, Rev. Sirico joined the KZIM Morning Meeting to discuss the book in southeast Missouri:
And then followed that up with a very positive interview with Stuart Varney on Varney & Co. on the Fox Business Network:
Keep checking back on the PowerBlog; we’ll keep posting updates as Father Robert continues his media tour.
Fr. Robert Sirico appeared on Varney & Co. May 24. Here is his interview:
The long and tragic history of government control of property on Indian reservations has led to economic nihilism and moral breakdown. In this week’s Acton Commentary (published April 25), Anthony Bradley argues for a new approach that encourages local control and entrepreneurial business formation. The full text of his essay follows. Subscribe to the free, weekly Acton News & Commentary and other publications here.
Political scientist and criminologist James Q. Wilson, co-author of the influential “Broken Windows” article in The Atlantic Monthly in 1982, which led to shift toward community policing, died today at the age of 80.
In 1999, Wilson spoke to Acton’s Religion & Liberty about how a free society requires a moral sense and social capital: