The Just Third Way

A Blog of the Global Justice Movement

Thursday, February 11, 2016

Socialist Delusions, Capitalist Illusions, IX: Capitalism’s False Front

Probably few people today know what a “false front” is — or, more accurately, was.  They do not have the questionable advantage of having been addicted to B Westerns and television cowboy shows.  Otherwise they’d know that as the camera swoops in on the lone hero doing the Trampas walk down the main drag at high noon, one of the things catching the viewer’s eye is the sight of buildings with big fronts and small behinds.
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Wednesday, February 10, 2016

Socialist Delusions, Capitalist Illusions, VIII: What About Collateral?

Yesterday we saw how commercial and central banks acting in concert as intended can create an elastic and asset-backed reserve currency to establish the foundation on which to finance sound industrial, commercial, and agricultural projects.  Not that they actually operate that way in many cases today; the role of the central bank has been completely perverted and hijacked to serve political ends in virtually every country that has a central bank.  And those that don’t?  They rely on the misuse of another country’s central bank, thereby indirectly helping to perpetuate an unjust system.
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Tuesday, February 9, 2016

Socialist Delusions, Capitalist Illusions, VII: Reserves and How to Use Them

We ended yesterday’s posting by agreeing with the old saw that you need money to make money.  Traditionally, this has meant at least one of two things, usually both.  One, that the only way to finance new capital formation is to restrict your (or somebody’s) consumption, accumulate money savings, then use the accumulation to purchase productive capital.  Two, somebody else accumulates savings that you borrow in order to purchase productive capital.
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Monday, February 8, 2016

Socialist Delusions, Capitalist Illusions, VI: Where Does the Money Come From?

Last week we decided that having private property in capital is absolutely essential if someone is to have the power to exercise his or her rights, thereby becoming more fully human.  This is because (as Daniel Webster reminded us nearly two centuries ago), “Power naturally and necessarily follows property.”  You need power — the ability for doing — to exercise rights, and thus private property to have power in order to make your rights effective.
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Friday, February 5, 2016

News from the Network, Vol. 9, No. 05

This has been an interesting week for the Just Third Way.  Work is progressing on our analysis of the 1916 Easter Rising that took place mostly in Dublin a century ago.  We have found a number of original sources most people seem to be passing by, and — of course — are able to put a unique twist on things from the perspective of the principles of economic and social justice.  Now to the news:
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Thursday, February 4, 2016

Socialist Delusions, Capitalist Illusions, V: The Economic Dilemma

Despite the obvious fact that technology produces marketable goods and services better, less expensively, and in greater quantity than human labor ever could, some people continue to insist that human labor is the only “real” factor of production.  Nor is this delusion confined to socialists.  It doesn’t matter where you go, “productivity” is measured in terms of output per labor hour.
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Wednesday, February 3, 2016

Socialist Delusions, Capitalist Illusions, IV: The State from Which All Blessings Flow?

We ended yesterday’s posting with the eternal question, Why, if private property in capital is so important to the establishment and preservation of the rights to life and liberty (to say nothing of pursuing and securing happiness and safety), how is society to survive if so few people have it?  Which leads to another question, Since private property in capital is so important, how are people to get it?
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Tuesday, February 2, 2016

Socialist Delusions, Capitalist Illusions, III: Life, Liberty, and Property

Socialists-Who-Deny-They-are-Socialists (as well as a number of socialists) often reject the claim that socialism can be defined as the abolition of private property.  They will point out that there are differences between Marxist communist socialism, communist socialism, Fabian socialism, National Socialism, Christian socialism, guild socialism . . . etc., etc., etc., and say that proves that anyone who says that (in a sense) socialism can be defined as the abolition of private property doesn’t know what he or she is talking about.
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Monday, February 1, 2016

Socialist Delusions, Capitalist Illusions, II: What is Property?

The reason so many socialists insist either that they are not socialists, or that socialism doesn’t involve the abolition of private property as a fundamental tenet, is that they don’t understand property — private or otherwise.  This, in turn, leads to a misunderstanding of money and credit, and even of “personality,” i.e., having rights — keeping in mind that having rights defines you as a person.
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Friday, January 29, 2016

News from the Network, Vol. 9, No. 04

As of this writing, the stock market is soaring again, apparently on the news that the price of oil is going up.  Translation:  the cost of a basic input to production is going up, which means lower profits and slower (if possible) economic growth . . . so the stock market goes up.  Uh, huh.  Enough of that Keynesian Looking Glass Land, here are the news items for this week:
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Thursday, January 28, 2016

Socialist Delusions, Capitalist Illusions, I: What is Socialism?

Get into an argument with a socialist — any socialist — and you will sooner or later be informed that you just don’t understand, that you don’t know what socialism is, you’re ugly, and your mother dresses you funny.
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Wednesday, January 27, 2016

Conclusion to Three Keys to Common Sense: Where Do We Go From Here?

In Return to Chesterton (1952), the “follow-up” to her biography of G.K. Chesterton, Maisie Ward commented of her subject, “The hardest thing to live with as the years passed must have been the vision growing daily clearer of ultimate failure.” (Maisie Ward, Return to Chesterton.  New York: Sheed and Ward, 1952, 281.)  Evelyn Waugh wrote of Msgr. Ronald Knox’s approaching end, “At first glimpse death appeared neither as an awful summons to judgment nor as a recall from exile, but as the final disruption and frustration of plans.”  (Waugh, Ronald Knox, op. cit., 330.)  Throughout his autobiography, Treasure in Clay, Fulton Sheen made references to his sufferings.
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Tuesday, January 26, 2016

The American Chesterton, XVII: Sheen v. Radical Catholicism

As we saw in the previous posting in this series, what was being taught in the theology department at the Catholic University of America in the 1920s under the auspices of Msgr. John A. Ryan was substandard.  While it cannot be proved, it fits the facts that Bishop Shahan, the rector of Catholic U., brought Fulton Sheen in to counter Ryan and improve the quality of the theology and philosophy taught there.
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Monday, January 25, 2016

Chocopalypse Now, II: Making the World Safe for Chocolate

In our previous posting on this key world issue, we noted we would post a solution to the coming Chocolate Apocalypse.  First, of course, we reminded our readers that a true world shortage of cocoa is not really likely — possible, of course, but not likely . . . if we get to work now to make the world safe for chocolate.  This was essential, because a number of the comments we received on FaceBook indicated that some people intended to kill themselves if chocolate disappeared.
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