THE Global Justice Movement Website

THE Global Justice Movement Website
This is the "Global Justice Movement" (dot org) we refer to in the title of this blog.

Tuesday, July 7, 2020

Job Security for (Personalist) Revolutionaries

A while back in response to an item touting Capital Homesteading as a possible way to bring people together and turn the economy around in our weekly Just Third Way news roundup, someone posted a comment to the effect that the original 1862 Homestead Act was (wait for it) . . . racist!  As a way of refuting our promotion of Capital Homesteading as a way of possibly establishing a little racial harmony and putting the economy back on a sound footing, the Righteous One went on to explain that the 1862 Act was “Whites Only,” and Black homesteaders were completely unheard of.

Monday, July 6, 2020

JYW Podcast: Stevenson on the Just Third Way

This week, as sort of a belated Independence Day celebration (very "sort of"), we have a video presentation of Just Third Way stalwart Guy "the Fulton Sheen Guy" Stevenson.  Sit back, watch, and enjoy:

Friday, July 3, 2020

News from the Network, Vol. 13, No. 27

Frankly, we don’t know what to think.  On one hand the “June Jobs Report” makes it sound as if the economy is booming, and the stock market is rising.  There is also the bit that there is an actual “worker shortage” as people refuse to take jobs as long as their unemployment benefits are paid; it seems that they are better off economically not working at all . . . at least, not that the authorities know about.  At the same time, we’re told the “jobs market” won’t recover for at least ten years.  What are we to believe, and what are we supposed to do?  Well, why not go the Just Third Way:

Thursday, July 2, 2020

Was the State Made for Man, or Man for the State?

In the previous posting on this subject, we addressed the question whether the United States was founded as a “Christian nation,” and came up with the non-answer that it depends on what you mean by “Christian nation.”  We decided — that’s us, not you — that, yes, you could use that term if you didn’t mind saying something misleading, but it would be better to say that the United States was founded as a country that — with certain rather key exceptions — embodied respect for the dignity of the individual human person.

Wednesday, July 1, 2020

What Do You Mean By “Christian Nation”?

A couple of weeks ago an article appeared in The Christian Post on how America was departing from the values of the Founding Fathers of the United States.  The idea was that the principles espoused by the Founders were essentially Christian, and that therefore the United States is properly a “Christian nation.”

Tuesday, June 30, 2020

How to Read a Social Encyclical

Contrary to popular opinion, Rerum Novarum was not the first social encyclical, nor did Catholic social teaching as such begin with Pope Leo XIII.  The social doctrine of the Catholic Church, of course, is as old as the Church itself.  It was not until the early nineteenth century, however, that social teachings were treated as a specialized area of study.

Monday, June 29, 2020

JTW Podcast: Our Global Justice Movement


This week host Dave Hamill has a conversation with Dan Parker of the Global Justice Movement . . . you know, the “Global Justice Movement” we mention once or twice on this blog.  Dan hails from Whitecourt in Alberta, Canada, where he comes out of the social credit movement.

Friday, June 26, 2020

News from the Network, Vol. 13, No. 26

Are you ready yet for a sane economy and social order?  Or do you think you can stick it out with the status quo a little longer?  If your mind still isn’t made up, maybe this will help bring you to a more reasonable frame of mind:

Thursday, June 25, 2020

Distributism and Economic Personalism, Part II

In our last episode (i.e., the previous posting on this subject) we mentioned that when we got around to addressing this subject again that we’d try and get to the point.  So, let’s ask again, “Are distributism and the Just Third Way of Economic Personalism compatible?”  Our starting point for today’s discussion is G.K. Chesterton’s description of distributism as a policy of widely distributed private ownership of capital, with a preference for small, family-owned farms and artisan businesses.

Wednesday, June 24, 2020

A Commons Question

A few weeks ago we had a question about “the Commons” that, prior to the Industrial Revolution and the enclosure movement, were a (if you’ll excuse the term) common feature of everyday life for many people.  We get different forms of this question periodically, so we figured it would be a good time to answer it in a blog posting.  The question?  Were the Commons an example of agrarian socialism, i.e., land owned in common by every member of a town or village?

Tuesday, June 23, 2020

Distributism and Economic Personalism, Part I

Every once in a while those of us who promote what we call the Just Third Way of Economic Personalism are asked whether what we’re talking about is compatible with “distributism.”  The quick and easy answer is, “That depends on what you mean by distributism.”  Frankly, quite a few people see no difference between distributism and Fabian, democratic, or Christian socialism.

Monday, June 22, 2020

Just Third Way Podcast: Economic Democracy

One of the problems associated with the continued lockdown of life (we mean, aside from all the other problems too numerous to mention. . . .) is the difficulty of trying to come up with something new and interesting for the weekly Just Third Way podcast . . . or reasonable facsimile thereof.  Obviously, we'd prefer all new material each week, but that ain't gonna happen with the resources at our disposal.  Fortunately, however, we do have a good supply of interesting material that, if not spot-on the Just Third Way, is related to it.

Friday, June 19, 2020

News from the Network, Vol. 13, No. 25

It is extremely difficult, but we will try to confine our weekly news items to “Just Third Way-specific” matter.  We realize it’s becoming increasingly popular to speak in despairing terms of “the New Normal” and moan about how bad things are going to be from now on, but that’s because people keep insisting on addressing the same old problems in the same old ways, instead of implementing the Just Third Way:

Thursday, June 18, 2020

How Not to End Racism or Be Socially Just

As regular readers of this blog are aware, we have examined the thought and works of noted social justice advocate Msgr. John A. Ryan (1869-1945) of the Catholic University of America.  We wanted to measure the consistency of Msgr. Ryan’s social justice doctrine with the Just Third Way understanding of social justice.  We also looked at Msgr. Ryan’s activities in regard to Ven. Fulton J. Sheen, who seems to have been a special object of attention by Msgr. Ryan.

Wednesday, June 17, 2020

Eternal Vigilance Committees?

Although it’s still being hashed out, the whole “Defund the Police” movement demands some kind of response.  At first glance, it sounds like a typical hysterical overreaction to an injustice or some kind of immoral behavior, i.e., “throwing the baby out with the bath.”  In response to the abuses of private ownership in capitalism, socialism calls for the abolition of private property.  Because some people abused alcohol, the 18th Amendment and the Volstead Act banned alcohol after nearly a century of effort.

Tuesday, June 16, 2020

The Dignity of Ownership

As we saw in the previous posting on this subject, we began this discussion a month ago after seeing an article in a webzine about the dignity of work, phrased in such a way as to suggest that it was work itself, rather than the human person doing the work, that takes priority.

Monday, June 15, 2020

JTW Podcast: The Challenge with Russell Williams

For today's Just Third Way podcast we have a special treat in store for you.  Today we have an episode of The Challenge with your host Russell Williams from December 27, 2012 featuring Dr. Norman Kurland, president of the Center for Economic and Social Justice as his guest.  Enjoy!

Friday, June 12, 2020

News from the Network, Vol. 13, No. 24

We are tempted to form a “Capital Homesteading Pool” to gamble on which leader(s) in which country(ies) will wise up first and implement Capital Homesteading or some other form of economic empowerment legislation instead of figuring out ways to spend more money that doesn’t exist.  We’re not against gambling — as recreation — but the idea of linking proposals for genuinely productive activity in any way to gambling is more than a little off-putting.  After all, we already have Wall Street and Congress, so why have another way to gamble?  Instead, here’s what this week has brought in the way of the Just Third Way:

Thursday, June 11, 2020

The War Against Fulton Sheen (Continued)

As we saw in the previous posting on this subject, Msgr. John A. Ryan was the instigator behind the sabotage of the academic career of Fulton J. Sheen at the Catholic University of America in Washington, DC, in the late 1920s and early 1930s.  Nor (as we shall see) did Msgr. Ryan confine his campaign against Sheen to Academia.  As time went on, he was active in extracurricular activities intended to blacken Sheen’s name.

Wednesday, June 10, 2020

Getting Down to Solutions

A while ago on June 3 there was an interesting piece on the causes of the “civil unrest” following the death of George Floyd.  An article titled “The Solution” by Dale Ahlquist of “The Society of Gilbert Keith Chesterton” appeared in Catholic World Report.

Tuesday, June 9, 2020

The War Against Fulton Sheen

As we saw in the previous posting on this subject, there were two important stages in the development of social justice as understood in Aristotelian-Thomist philosophy.  The first was in the 1830s when, in response to the “new things” of socialism, modernism, and esotericism, Msgr. Aloysius Taparelli developed a principle of social justice.

Monday, June 8, 2020

Podcast: Getting (Meta) Physical, Part II

For today's podcast (or videocast), we present the second part of Mortimer Adler's talk on Aristotle's Metaphysics.  It's not very long and you might learn something:

Friday, June 5, 2020

News from the Network, Vol. 13, No. 23

Can anyone explain to us why, when the economy has been shut down, unemployment is at an all-time high, cities are being torn apart by rioting, looting, and burning, that the stock market is rocketing skyward?  We just checked: as of a moment ago as of this writing, the Dow was up 750 points.  No, you read that right, it’s not a typo.  And yet:

Thursday, June 4, 2020

Interlude: A Short History of Social Justice

As described in the Wikipedia — which, despite its reputation, has its moments . . . this not being one of them — Msgr. John A. Ryan (1869-1945) of the Catholic University of America in Washington, DC “was a leading Catholic priest who was a noted moral theologian, professor, author and advocate of social justice.”

Wednesday, June 3, 2020

A Baffled Response

While the most frequent justification given for the explosion of violence accompanying the protests over the murder of George Floyd is a concern for racial justice, it is difficult for some of us to understand what looting and destroying black- (and white- and yellow- and green- and purple- and . . . ) owned businesses, burning churches, desecrating memorials, etc., etc., etc., has to do with racial justice, or anything else except rage.

Tuesday, June 2, 2020

“A Time of Great Trial”

As we saw in the previous posting on this subject, the rise of Fulton Sheen at the Catholic University of America in the 1920s could only be called meteoric.  Not surprisingly, the advent of someone so obviously intellectually gifted not only shook up the faculty, it seems to have been taken as an actual threat, especially by those of a less orthodox and more modernist bent, such as Msgr. John A. Ryan.

Monday, June 1, 2020

JTW Podcast: Let's Get (Meta) Physical

In today's Just Third Way pod/videocast, we get metaphysical with Mortimer J. Adler, part one of two in which he discusses Aristotle's Metaphysics.  If all goes well, we will have part two of two next week.

Friday, May 29, 2020

News from the Network, Vol. 13, No. 22

It seems the worse things get, the higher the stock market goes.  That’s as may be, however.  What we’re interested in is what’s going on in the real world:

Thursday, May 28, 2020

How Fulton Sheen Viciously Attacked Msgr. Ryan (Not)

As we saw in the previous posting on this subject, Fulton J. Sheen left the Catholic University of America and transferred to the Louvain two years into a three year doctoral program due to the rapidly degenerating level of academic standards under the auspices of the noted Msgr. John A. Ryan.  Not surprisingly for one of his temper, Msgr. Ryan appears to have taken Sheen’s move as an insult or a personal attack of some kind.

Wednesday, May 27, 2020

The American Chesterton Annoys Msgr. New Deal

In the previous posting on this subject, we noted that the Catholic Church’s so-called “Living (or Just) Wage Doctrine” of Msgr. John A. Ryan (or anyone else) is not exactly, er, kosher.  There is, of course, a “Living (or Just) Wage Discipline,” but not a doctrine.  You see, a doctrine is an unchanging principle, while a discipline is a changeable application of a doctrine.

Tuesday, May 26, 2020

The Living Wage and Social Justice

According to the Wikipedia entry on him, Msgr. John A. Ryan (author of A Living Wage, whom we met in the previous posting on this subject) was “a leading Catholic priest who was a noted moral theologian, professor, author and advocate of social justice.  Ryan lived during a decisive moment in the development of Catholic social teaching within the United States.”

Monday, May 25, 2020

JTW Podcast: Dr. Marwane El Alaooui

Today we have a very special Podcast from a CESJ "Fellow" who came to us from the Hubert Humphrey Fellowship program after he decided that CESJ offered the best "professional affiliation" — as did six other Fellows and a student intern from William and Mary!

Friday, May 22, 2020

News from the Network, Vol. 13, No. 21

The Big News this week seems to be the debates about more “stimulus” in the trillions of dollars.  We keep wondering why when we first proposed allocating $2 trillion worth of capital credit to finance new capital formation to be broadly owned and in a non-inflationary way, it was called insanely risky.  Not like issuing $6 trillion or more of new money backed only by future tax collections that might never materialize.  And then there’s this:

Thursday, May 21, 2020

Monsignor New Deal

To hear some people tell it, Monsignor John Augustine Ryan (1869-1945) was not only the greatest social justice advocate who ever lived, he saved the world by inspiring and instituting the New Deal in the 1930s.  Neither claim bears up on even the most cursory examination.  As we saw in the previous posting on this subject, public, academic, and political opinion had shifted away from an ownership system, and was firmly entrenched in the wage system.

Wednesday, May 20, 2020

Some Labor Problems

In the previous posting on this subject, we noted that where Adam Smith said a thing is worth what the customer is willing to pay for it, David Ricardo said a thing is worth the labor it cost to produce it combined with its scarcity.  We then asked the forbidden question, What if it takes immense labor to produce a unique item that nobody wants?  That’s where the “labor theory of value” gets more than a little dicey.

Tuesday, May 19, 2020

The Labor Theory of Value

It is a truth universally acknowledged, that a single man in possession of a good wife, must be in want of a job.”  That, of course, is the famous opening line from fictional author Gianny Austin’s apocryphal novel, Property and Prejudice, a comedy of manners in which ownership of the means of production (except for an economic or political élite) is depicted as being not quite polite, and the characters spend all their time cleverly positioning themselves for higher wages and fixed benefits, and then wondering why prices are so high and why other people keep telling them what to do.

Monday, May 18, 2020

R.M. Hutchins & M.J. Adler on "the Great Books"

Okay, this is not a video with Robert Maynard Hutchins and Mortimer J. Adler, it's a video about Robert Maynard Hutchins and Mortimer J. Adler and the "Great Books" program.  Enjoy!

Friday, May 15, 2020

News from the Network, Vol. 13, No. 20

The latest news is that “the government” (meaning desperate politicians) are considering pumping another $3 trillion so people have something to spend.  Of course, we’re still baffled why an additional $3 trillion backed by government debt that is rising skyward is more secure than the $2 trillion backed by private sector hard assets we propose for Capital Homesteading, but then, we’re not politicians or academics.  All we can do is talk what seems to be common sense:

Thursday, May 14, 2020

Socialism v. Capitalism v. . . . What?

In the previous posting on this subject, we noted that the phrases “the dignity of labor” and “the dignity of work” might be a little ambiguous, even misleading on occasion.  For example, what do we mean by “labor”?  Do we mean work . . . or do we mean the worker?  The dignity of work is substantially different from the dignity of the worker, so it makes a great deal of difference what we mean by “labor.”

Wednesday, May 13, 2020

Dignity of Work or Labor v. Human Dignity

Earlier this week, Catholic World Report, a webzine, ran an article, “Nonessential Workers” and the Essential Dignity of Work.”  Reading through the article, there seemed to be some confusion about different types of work, and even work as work, as well as the concept of dignity.  It seemed to paint the situation as a single issue in black and white, while in reality it is a number of issues that get into some very gray areas.

Tuesday, May 12, 2020

A Measure of Reform

In the previous posting on this subject, we posted another section of our recent CESJ position paper, “Universalizing Capital Ownership.”  Today we get to the final section of the paper, dealing with the short-term emergency measures we believe to be necessary, and a brief outline of the long-term reforms to the system that need to be carried out.  Of course, if you want to read the entire paper without having to go back and read the individual postings, just click on the link above to the full paper.  It’s pretty short.

Monday, May 11, 2020

The Theory of Happiness

In today's video cast, the "Great Books" philosopher Mortimer Adler discusses Aristotle's "theory of happiness" found in Book I of the Nichomachean Ethics.  And what has this got to do with the Just Third Way?  You'll see. . . .

Friday, May 8, 2020

News from the Network, Vol. 13, No. 19

As the lockdown, shutdown, quarantine, or whatever you want to call it continues, so does the scarcity of real and workable ideas on what to do about it.  For example:

Thursday, May 7, 2020

A New Monetary Paradigm

In the previous posting on this subject, we continued posting sections of our recent CESJ position paper, “Universalizing Capital Ownership.”  As we said before, of course, .  Of course, if you want to read the entire paper without waiting for the parts to be posted, just click on the link.

Wednesday, May 6, 2020

The Unacknowledged Right

In the previous posting on this subject, we started posting a recent CESJ position paper, “Universalizing Capital Ownership,” as a series.  Of course, if you want to read the paper in one go, just click on the link; it’s not very long, although putting up the whole thing as a blog posting is a bit much at one time.

Tuesday, May 5, 2020

Possible Steps to Restart the Economy

Okay, when we last addressed this subject in a posting, we were in the middle of helping prepare a “subject paper” (or whatever you want to call it) on the Covid-19 virus and its economic impact.  The preparation of the paper proved to be a bit more involved than originally anticipated (although well worth the effort), so instead of closing this particular series of blog postings with a summary of the paper, we’ll end by serializing the paper itself.  Of course, if you want to read the whole paper at one go (it’s actually pretty short), you can do so by clicking on this link.

Monday, May 4, 2020

Just Third Way Podcast (Sort Of): Natural Law Theory

Today we have a short (ten minute) video on "natural law theory" which isn't bad, but it's not the best.  For one thing, it's poorly edited, with all pauses between thoughts edited out.  It tends to come off like a G&S patter trio after a bit.  There are also a number of factual errors, such as man being a social animal . . . no, political animal; we have determinable, not determinate natures.  On the whole, however, it's not bad, if you ignore the cutesy and clever language and edit out the oversimplifications and errors:

Friday, May 1, 2020

News from the Network, Vol. 13, No. 18

Purely by coincidence, most of the news items this week relate to the benefits of worker ownership.  We say “by coincidence,” for today is the “feast” (holiday in honor of) “Saint Joseph the Worker,” which was instituted in 1955 to counter the communists Numero Uno holiday in the workers’ calendar.  What the communists and everyone else seemed to forget, however, is that Saint Joseph was not just a worker, he was a worker-owner.  He may have been poor, but poor people can own capital, too:

Thursday, April 30, 2020

The “Invisible Hand” Redux

In the previous posting on this subject, we started looking at the “Invisible Hand” of the much-excoriated Adam Smith, and realized that at least some of what Smith was accused of really had no basis in fact.  Interestingly, a fact we didn’t bring up is that, while Smith is generally portrayed as some kind of “High Priest of Capitalism” on the strength of a rather profound misunderstanding of his Invisible Hand argument, it turns out that he was actually far more labor-oriented than people suppose.

Wednesday, April 29, 2020

How to Have UBO (Universal Basic Ownership)

In the previous posting on this subject, we examined the case for Universal Basic Ownership as opposed to a Universal Basic Income.  We decided that Universal Basic Ownership was better on many grounds, one of the chief being the logical question as to where the money is supposed to come from.

Tuesday, April 28, 2020

“A Euphemism for Muddle-Headedness”

As we saw in the previous posting on this subject, the tendency on the part of many people these days is to assume that others are guilty until proven innocent, and even twist — or invent — what somebody said in order to be able to convict them of whatever we want them to be guilty.  Especially if we are guilty of the very thing of which we are accusing others (d’oh).

Monday, April 27, 2020

JTW Podcast No. 62: A Chat With Lisa Saleh

Today your host Dave Hamill has a chat with Lisa Saleh, a Hubert Humphrey Fellow affiliating with CESJ.  Lisa, who is from Yemen, has worked with Doctors Without Borders and other organizations, is interested in applying Just Third Way principles throughout the world, with an emphasis on public health policy.

Friday, April 24, 2020

News from the Network, Vol. 13, No. 17

Yup.  Unemployment claims just increased by another 4.4 million . . . and the stock market is up!  Exactly who (or what) is supposed to be producing the goods and services that make a profit that is allegedly reflected in the value of a company’s shares we don’t know, but, hey, who needs to work when your shares increase in value?  Unless, of course, you happen to undergo a reality check:

Thursday, April 23, 2020

Versus the Virus

As we saw in the previous posting on this subject, there is a slight problem when advancing technology displaces human labor from the production process.  It seems that when a machine replaces a human worker, the human worker loses his or her job and thus has no source of earned income until and unless he or she finds another job.

Wednesday, April 22, 2020

Adam Smith’s “Invisible Hand”

One of the more acceptable ways to make a name for yourself in the more liberal areas of Academia is to go after the moral philosopher Adam Smith (1723-1790).  All you have to do is say the “right” things about Smith, thereby demonstrating you have the “right” attitude about capitalism and its purported high priest, and you will be accepted, or at least acceptable — assuming you don’t transgress any other unwritten law of the Groves of Academe.

Tuesday, April 21, 2020

Pope Francis and UBO

In the previous posting on this subject, we noted that what appeared to be a call by Pope Francis to institute a “living wage” arrangement as an expedient for workers performing essential tasks during the Covid-19 lockdowns somehow got twisted into an endorsement of the Universal Basic Income as a permanent solution to the world’s economic woes.

Monday, April 20, 2020

JTW Podcast: Plato v. Aristotle

Today's pod/videocast is a Clash of the Titans.  In the near corner we have the Athenian Assassin, Plato, student of Socrates, who put words into his teacher's (Socrates's) mouth to give his own ideas credibility.  In the opposite corner we have the Macedonian Madman, Aristotle, teacher of Alexander T. Great and inspiration of St. Thomas "the Dumb Ox" Aquinas, who took the championship from the Manichean Siger the Brabant Battler with his Analogy of Being.

Friday, April 17, 2020

News from the Network, Vol. 13, No. 16

Have you figured out why the stock market surges when things look the worst, and drops when it looks as if the situation might improve?  Neither have we.  So let’s get straight to this week’s news items:

Thursday, April 16, 2020

Pope Francis and the UBI

A couple of days ago the media were once again ecstatic over yet another fundamental change in Catholic doctrine announced by Everybody’s Favorite Pope, Francis™.  It seems that in a radical move, EFPF™ has come down Big Time in favor of the Universal Basic Income, or UBI.  Or so the Usual Suspects very loudly claim. . . .

Wednesday, April 15, 2020

The Idea of Social Justice

Misunderstanding of the development of the concept of social justice to counter the “new things” of socialism, modernism, and the New Age is pervasive in our day.  Briefly, many people confuse the act of social justice with measures directed to the good of individuals, not to the common good.  The act of social justice is not, however, a substitute or supplement for individual justice or charity, but a corrective intended to restructure institutions to make it possible for the individual virtues to function so that individuals can meet their own needs through their own efforts.

Tuesday, April 14, 2020

“It Was Automation”

Years ago — 1963 to be exact — the late and sometime great Alan Sherman (1924-1973) released one of his trademark parodies, “Automation,” to the tune and somewhat twisted lyrics of “Fascination” (music from 1904, lyrics from 1905, featured in a gazillion films).  It was the second cut on the first side of Sherman’s My Son, the Nut album.

Monday, April 13, 2020

JTW Pod/Videocast: "A Student's Perspective"

For a change of pace this week, our Pod/Videocast features one of CESJ's student interns from a few years ago, Leda Kennedy.  This is an interesting take, especially considering the current shutdown of schools at all levels.  (By the way, CESJ is continuing its internship program as well as accepting volunteers; we're doing virtually everything . . . virtual.)

Friday, April 10, 2020

News from the Network, Vol. 13, No. 15

It is baffling how, at a time when 17 million Americans have lost their jobs in a single month, businesses are in trouble, and a few dozen other etc.s, the stock market keeps going up!  The only possible reason we can see is that the speculators expect the massive amounts of money creation proposed for “stimulus” to be channeled into the stock market.  This is after increasing government debt to $30 trillion.  That’s right.  $30 trillion . . . with no mention of how or if it’s going to be repaid.  Are there alternatives available?  Perhaps:

Thursday, April 9, 2020

“Contrary to Sound Popular Feeling”

Back in 1789, Jean-Paul Marat, convicted thief, quack scientist, physician-by-purchase, and a prime mover behind the French Reign of Terror, stated his basic principle of social reconstruction: “When a man is in want of everything, he has a right to take from another the superfluity in which he is wallowing: nay, more, he has a right to cut his throat and devour his palpitating flesh.” (Jean-Paul Marat, as quoted in Warren H. Carroll’s The Guillotine and the Cross. Manassas, Virginia: Trinity Communications, 1986, 36.)  As we saw in the previous posting on this subject, Marat seemed to have the fundamental principle of what became known as socialism down to a T.

Wednesday, April 8, 2020

How to Stimulate an Economy

How much does stupidity cost? $2.2 trillion, evidently.  Frankly, as we saw in the previous posting on this subject, just printing up money will only make things (economically) worse.  What, however, should be done to stimulate the economy if just printing money and handing it out or investing it in the stock market will only make the problem worse?

Tuesday, April 7, 2020

“Never Was Heresy More Subtle”

As we saw in the previous posting on this subject, socialism — whatever it turned out to be (depending on the particular variety espoused, promoted, or worshipped) — did not originally begin specifically as a reaction against capitalism.  Rather, it was against Christianity, most particularly the Catholic Church, although all of the “mainstream” churches, Catholic, Protestant, and Orthodox, were targeted.

Monday, April 6, 2020

Why Do We Need Capital Homesteading?

Aside from what should be obvious by now as the economic shutdown continues and the federal government proposes to print trillions of dollars to buy things that haven't been produced, why do we need a "Capital Homestead Act"?  Norman Kurland, CESJ's President, offers a few reasons in a conversation with Russel Williams of The Challenge:

Friday, April 3, 2020

News from the Network, Vol. 13, No. 14

It is increasingly clear that no one has any realistic idea what to do about making an economy productive again, much less the best way to go about it.  Instead, this is the sort of thing that is going on:

Thursday, April 2, 2020

Good Credit v. Bad Credit

As we may have mentioned one or two . . . dozen times before, we like it when somebody tosses us a question or a comment to which we can respond with a recyclable answer that can be turned into a blog posting.  Like this one regarding the prevalence of consumer credit debt among presumably affluent Americans who have suddenly found themselves bereft of that weekly paycheck they were living on from day to day, grossly supplemented with more than a modicum of consumer credit (edited for anonymity to protect the guilty):

Wednesday, April 1, 2020

Was Jesus the First Socialist?

Quick answer: no.  The idea — in those terms — first appeared in the early nineteenth century, which (as we saw in the previous posting on this subject) was when socialists were trying to garner as many “implied ethical endorsements” as they could to sell their system.  It’s an interesting story.

Tuesday, March 31, 2020

Private Property According to Fulton Sheen

In his 1940 classic, Freedom Under God, Fulton J. Sheen had a few pithy things to say about private property.  Almost nothing in economics, finance, and political economy is more misunderstood than private property.  The sole exception is money and credit, which are simply two different forms of the same thing: promises and the keeping of promises. (“Money and Credit are essentially of the same nature; Money being only the highest and most general form of Credit.” Henry Dunning Macleod, The Theory of Credit. Longmans, Green and Co., 1894, 82.) Furthermore, private property and money are inextricably linked. (Irving Fisher, The Purchasing Power of Money.  New York: Macmillan, 1931, 4-6.)

Monday, March 30, 2020

Stoking the Fire

For a change of pace, we're presenting a video today on a subject we know very little about, but is well-worth considering: weening the United States (and every other country) off of the fossil fuels.  As we said, this is not our area of expertise, so we can't really judge the feasibility of the idea.  It just sounds like a good one:

Friday, March 27, 2020

News from the Network, Vol. 13, No. 13

With the stock market bouncing around like a rubber ball and the rest of the news almost completely focused on the pandemic, it’s hard to find news items directly related to the Just Third Way.  That is why we’re not going to do it:

Thursday, March 26, 2020

More How Not to Stimulate an Economy

In the previous posting on this subject, we gave a few reasons as to why printing up money and handing it out (or even spending it on things that don’t generate a payback) is a really bad idea.  We also mentioned that when we addressed the subject again, we would present what (in our opinion) ought to be done . . . so here goes. . . .

Wednesday, March 25, 2020

How to Argue With a Socialist (If He is G.B. Shaw)

Once upon a time there were two people who liked to argue with each other.  There is nothing wrong with that, except one of them was a socialist and inclined to take any unfair advantage to win an argument.  The other (who was not a socialist) didn’t care about winning the argument as long as he persuaded others of the truth or reasonableness of his position.  Naturally enough, the two managed to argue for nearly twenty years without the one actually winning the argument, or the other persuading him of anything.

Tuesday, March 24, 2020

How Not to Stimulate an Economy

As of this writing, the $1 trillion stimulus package has crashed and burned in Congress.  That’s a good thing.  Not that we can afford to let the economy go its not-so-merry way, but remedial action should alleviate the symptoms and cure the disease, not make matters worse.

Monday, March 23, 2020

Fulton Sheen Rides Again!

Well . . . Fulton Sheen was born in El Paso . . . Illinois, so the "rides again" isn't entirely out of left field.  It's even somewhat appropriate.  In any event, this week we bring you yet another "Catholic-catholic" message from "America's Archbishop" suitable for people of all faiths and philosophies . . . although you do have to do a little "filtering" of the "Catholic language" to get to the universal, small-c catholic message.

Friday, March 20, 2020

Own the Future: A True Cure for an Ailing Economy

Guest Blog by Gary Reber
Michael Bloomberg has penned an editorial column in which he calls for embarking on the largest public investment in infrastructure in generations, with government issuing new money to finance this. This money will be backed, as it is today, by government debt, repayable with future taxpayer dollars.

News from the Network, Vol. 13, No. 12

Giving in to popular demand (and the lack of news in other areas), our Just Third Way news items lean a little bit in the direction of the Covid-19 pandemic . . . but without giving recommendations on how to prevent it.  What we’re concerned with (from the Just Third Way perspective, not personally) is the economic and financial responses being proposed, some of which strike us as possibly unwise:

Thursday, March 19, 2020

A Primer on Panics

Financial panic, that is.  With the stock market going up and down like a yoyo, many people are giving in to panic.  The irony is that while some panic over the effects of the Covid-19 virus is understandable if not entirely rational, the frenzy over the financial markets is completely irrational.  People appear to be confusing the secondary stock market with the primary productive market.

Wednesday, March 18, 2020

What, Then, Does Cardinal Ratzinger Mean?

Back in 1864, the Reverend Charles Kingsley, considered a leader in the Christian socialist movement, a modernist, and a proponent of what he called “Muscular Christianity” (and others called “Sanctimonious Obnoxious Religious Bullying”), accused Saint John Henry Cardinal Newman of both lying and promoting lying as a virtue . . . based on some rather distorted (to put it mildly) versions of Newman’s sermons as a Protestant and one or two false allegations and accusations.

Tuesday, March 17, 2020

Did Cardinal Ratzinger Endorse Socialism?

As we saw in the previous posting on this subject, there has been a veritable tsunami of authorities — usually self-appointed — insisting that “democratic” (or any other kind of) socialism is not merely consistent with Christian social teaching, but is the purest form of it.  The evidence presented . . . okay, asserted without a shred of evidence . . . was that C.S. Lewis “approved” of socialism.

Monday, March 16, 2020

Oh, Look! Another Fulton Sheen Podcast!

The good thing about Fulton Sheen is that although he was a Catholic figure (we avoid the words "intellectual" or — worse — "world's first televangelist"), he appealed to virtually everyone with a basic grounding in common sense and a natural law orientation.  That is why, although CESJ is an interfaith organization, we find Sheen's work very compatible with the message of the Just Third Way.  It's also lucky for us that although the "Catholic Hour" radio show was planned to feature a number of different speakers, it rapidly developed into a "Fulton Sheen Hour."

Friday, March 13, 2020

News from the Network, Vol. 13, No. 11

It seems almost incredible, but the situation today and that of two hundred years ago are so similar as to make it look as if we’re replaying the past with a vengeance.  Society is dissolving in chaos, socialism is being offered as a panacea, and a very bad, even destructive understanding of money and credit virtually rules the world:

Thursday, March 12, 2020

Whence Cometh This Rush of Socialism?

In the previous posting on this subject we looked at the evidence — such as it was — that we could dig up to support the contention that the Christian apologist C.S. Lewis approved of socialism in any form.  Admittedly, the evidence we found was remarkably weak, not to say unconvincing, but we had to do the work ourselves as the individuals making the claim were a trifle shy about providing their own evidence.

Wednesday, March 11, 2020

Did C.S. Lewis Approve of Socialism?

We got into a little argument a short time ago about socialism, capitalism, and Christianity.  Coming across a FaceBook placard or whatever you call ’em that proclaimed, “Capitalism causes socialism”, we made the mistake of putting our two-and-a-half cents in, although you would have thought that by now we would have learned our lesson about trying to argue with people who think assertion is argument and personal insults are proof.

Tuesday, March 10, 2020

The Problem of Social Justice

We come to the final installment of our series explaining the Core Values of the interfaith Center for Economic and Social Justice (CESJ).  If you read the list of CESJ’s Core Values in order you will notice that they go more or less in a logical order, a progression from the Source of it all, to the main goal of CESJ . . . of life itself, as a matter of fact.

Monday, March 9, 2020

Fulton Sheen Again!

"Of Sheen Never Enough"?  We won't go that far, but it's nice to see a Christian clergyman of any denomination in the 20th or 21st centuries who comes out so strong against the "new things" of modernism, socialism, and the New Age . . . without attacking the modernists, socialists, and the New Agers (although that hasn't stopped them from going after anyone who disagrees with them, or who they think disagrees with them, or who will disagree with them, or who might disagree with them, or whose tie they don't like, or. . . .)

Friday, March 6, 2020

News from the Network, Vol. 13, No. 10

Should we mention the stock market gyrations and the effect of the corona virus?  No.  If we do, we’ll just be wrong, as the situation changes so fast that there’s no way to be accurate except in hindsight.  We’ll just ask if you really need that much toilet paper?  Otherwise, let’s see what’s happening on the Just Third Way front:

Thursday, March 5, 2020

A Disagreement or Two

In the previous posting on this subject we began addressing a series of questions and comments, nine in all from a faithful reader.  As we covered the material in depth in previous postings, we answered them with brief clarifications.  Most of the issues seemed to be semantic, so we only needed to give brief responses.  We covered the first five in the previous posting, and get to the remaining four today:

Wednesday, March 4, 2020

Some Questions on Social Virtue

As we may have mentioned once or twice, we occasionally get questions from our readers.  When these are substantive — as most of them are (the complainers just issue, er, complaints and then run away) — we can use our answers as blog postings.  This saves us a lot of work, or at least some brain time trying to think up something that will instruct as well as edify without offending too many people except for modernists, socialists, and New Agers . . . but they’re offended all the time, anyway.

Tuesday, March 3, 2020

Social Justice and the Common Good

In the previous posting on this subject we asked whether a society can maintain itself when the vast majority of people are cut off from participation in the common good by lack of capital ownership — and answered our own question with a “no.”  Some people will object to this, citing the fact that there have been many societies throughout history in which the great mass of people owned nothing but their labor.

Monday, March 2, 2020

Fulton Sheen on the Crisis

Last week to semi-popular acclaim we presented a 1943 "Catholic Hour" broadcast by then-Monsignor Fulton J. Sheen, "The Thing We Are Fighting Against."  This week we follow up on that with another random selection from Sheen's Catholic Hour shows, "War and Revolution," from January 3 (or 31, it's not clear), 1943, the first in the series on "the Crisis in Christendom" . . . not the college in Northern Virginia (necessarily . . . unless they want to admit something!), but what is left of western civilization against the onslaught of the "New Things" against which Sheen struggled his entire career:

Friday, February 28, 2020

News from the Network, Vol. 13, No. 09

All eyes today are on the stock markets of the world instead of the productive, primary markets.  We’ll give in to popular pressure and explain why this is a bad idea, but that’s as far as we’ll go:

Thursday, February 27, 2020

Wednesday, February 26, 2020

Achieving Sovereignty

In the previous posting on this subject — the Core Values of the interfaith Center for Economic and Social Justice (CESJ) we looked at the issue of sovereignty . . . and had to present a great deal of information on what we mean by the term as applied in “liberal democracy,” or “government of the people, by the people, and for the people.”  We discovered that many people had so many different meanings for “people” and even “government” that “liberal democracy” effectively had no meaning at all!

Tuesday, February 25, 2020

A Question of Sovereignty

Although it seems to be upsetting to adherents of various new theories (“new” being very relative in this case, referring to non-Aristotelian ways of thinking), our series explaining the Core Values of the interfaith Center for Economic and Social Justice (CESJ) has proved to be rather popular.  Evidently a significant number of people are pleasantly surprised when the realize there is an ethical alternative to both capitalism and socialism that doesn’t require you to check your brains at the door.

Monday, February 24, 2020

Fulton Sheen on "The New Christianity"

Surprisingly (or not surprisingly), an astonishing number of people have commented favorably on our recent series explaining the Core Values of the interfaith Center for Economic and Social Justice (CESJ).  The posting on "stewardship" was particularly popular, even among a number of people who have previously described themselves as "socialists."  They seemed genuinely unaware that the Just Third Way of Economic Personalism presents a viable alternative to both socialism and capitalism.

Friday, February 21, 2020

News from the Network, Vol. 13, No. 08

Modern politics is a wonder . . . you wonder why no one running for office has picked up on the obvious advantages of adopting the Just Third Way of economic personalism as a main plank of a platform.  That being said:

Thursday, February 20, 2020


Continuing our presentation and discussion of the Core Values of the interfaith Center for Economic and Social Justice, as we saw in the previous posting on this subject there is a difference between work performed to keep body and soul together, and the work of becoming more fully human, i.e., the work of promoting or working for one’s own perfection or completeness as a human being by conforming more closely to human nature.

Wednesday, February 19, 2020

The Highest Form of Work

Continuing our blog series examining the Core Values of the interfaith Center for Economic and Social Justice (CESJ), we follow up on yesterday’s posting on our little explication of “Nothing should stand between God and the human person,” with a dissertation on the meaning of work.  As it says in the CESJ Core Values,

Tuesday, February 18, 2020

God and the Human Person

Continuing our discussion from the previous posting on this subject, a while back — quite a long while, actually — we had a conversation at an organizing meeting of a local writers group with a Catholic attorney who wanted to be a writer.  We didn’t know what sort of writing the fellow wanted to do; from the fact that he didn’t mention any publication record but kept asking about this writer’s credentials we strongly suspect that he thought of writing as a “one day” project, as in “One day I’m going to write something.”

Monday, February 17, 2020

The Green Economy

On today's pod/video cast, we have Martin Smith, who explains why "going green" doesn't have to mean "going without" or "going poor."  It does mean "getting smart" about the choices we and others make:

Friday, February 14, 2020

News from the Network, Vol. 13, No. 07

At the top of the news this week is the Corona virus, but we don’t know better than anyone else what has happened, what could happen, or what will happen, so we’ll stick with other stories until we do know:

Thursday, February 13, 2020

“An Ultimate Source”

In the previous posting on this subject — the reason for having “core values” in the first place — we looked at the link between solidarity and core values.  After all, if solidarity means accepting the principles that define a group as that group and no other, it makes sense that the principles be clearly defined or you won’t know who belongs to that group.

Wednesday, February 12, 2020

Why Have Core Values?

As a follow-up to the previous posting on this subject, we decided to look at the issue of why organizations such as CESJ — or any organization, for that matter — even have core values in the first place.  Obviously, the best place to start looking for an answer is CESJ itself.  Why does CESJ have core values?  Because —

Tuesday, February 11, 2020

Religion and All That

A while back (four years to be vaguely exact . . . to employ a precise estimate) we posted the Core Values of the interfaith Center for Economic and Social Justice (CESJ).  We gave them straight, without embellishment or explanation, as we thought they are pretty much self-explanatory.  The other day, however, we got an email from someone we had referred to the CESJ website.  As he said,

Monday, February 10, 2020

Just Third Way Videocast: Third Party 2020?

We continue our series of "video podcasts" covering subjects of interest to the Just Third Way (if not always from a Just Third Way perspective) with a look at the election of 1912, the last time a "third party candidate" gave the two major parties a serious run for the money.  The "Bull Moose" (Progressive Party . . . which used to mean something good) candidate Theodore "Don't Call Me Teddy" Roosevelt very nearly won over the Democratic candidate Woodrow "In the Pocket of Wall Street" Wilson.

Friday, February 7, 2020

News from the Network, Vol. 13, No. 06

A number of recent events underscore the importance of implementing Just Third Way reforms as soon as possible in order to head off what could be some disastrous events and to resolve a number of existing situations that appear to be without viable solutions.  Still, there are a number of initiatives working to move forward that give a little hope that what seem to be insurmountable problems can be dealt with in an effective and just manner:

Thursday, February 6, 2020

The Facts of Life

As we’ve noted once or twice on this blog, we like to get questions from our readers.  This makes it easy to write the next blog posting.  The only thing we like better is being able to, er, “borrow” somebody else’s answer to a question on some aspect or point of the Just Third Way.

Wednesday, February 5, 2020

Is Keynesian Economics Socialist?

The other day while doing some research into the origins of the “new things” of socialism (which is not all that social), modernism (which is not all that modern), and the New Age (which is not all that new), we came across an article from 1993, “Liberalism and Socialism: The Same Thing?” (Paul E. Corcoran, University of Adelaide, Australian Political Studies Association Annual Conference, Monash University, September 29-October 1, 1993)

Tuesday, February 4, 2020

Paying for Justice

Obviously, if you have to pay for justice, it isn’t justice.  That’s not what we mean.  We’re referring to the fact that meeting the demands of justice can — and does — often incur a cost in terms of time, resources, and money.  This is not “buying justice,” any more than paying a judge a salary or jury members for their time is purchasing a verdict (although, obviously, the system can be subverted and corrupted).

Monday, February 3, 2020

The Frontier Thesis

Today's pod/video-cast takes a look at Frederick Jackson Turner's 1893 "Frontier Thesis."  Frankly, it was difficult to find a video that just reported Turner's thesis and gave the facts . . . and this one is no exception.  As far as the Just Third Way of Economic Personalism is concerned, Turner's key point is that the end of "free" land under the Homestead Act of 1862 meant the eventual end of American-style democracy . . . a conclusion with which we have qualified agreement.

Friday, January 31, 2020

News from the Network, Vol. 13, No. 05

This week we have a number of news items relating to the great Keynesian economic illusion that government creates wealth by issuing debt, and that inflation is essential to economic growth.  Neither assumption is correct and is easily disproved, but you can’t seem to get today’s academics or politicians to understand that:

Thursday, January 30, 2020

Part 2½: What About the Universal Basic Income?

It’s true that no good deed ever goes unpunished . . . sort of.  In the previous two postings on this subject, which we imaginatively called Part I and Part II, respectively, we were asked the burning question whether the Just Third Way of Economic Personalism/Capital Homesteading, etc., could be considered communist.

Wednesday, January 29, 2020

Part II: Is the Just Third Way Communist?

As we noted in the previous posting on this subject, we sometimes get letters asking about the Just Third Way of Economic Personalism, and once in a while we answer them . . . okay, we almost always answer them, except when someone is obviously trolling or trying to start a fight.  It’s even better when somebody else answers them so that we can steal the answer and use it as a blog posting.

Tuesday, January 28, 2020

Part I: Is the Just Third Way Communist?

As we’ve said before on this blog, we like it when people ask us questions (coherent ones, anyway) that we can answer and then “recycle” what we wrote as blog postings.  It’s even better when somebody else answers a question instead of us.  That way we can steal the question and answer and use it as a blog post without actually having to do any work. . . .

Monday, January 27, 2020

The Homestead Act of 1862

This video might help people to understand why the idea of the 1862 Homestead Act should be duplicated today by extending the concept to all forms of capital:

Friday, January 24, 2020

News from the Network, Vol. 13, No. 04

Some interesting items this week on the global justice (or lack thereof) front . . . mostly lack thereof, and the obvious need for the Just Third Way of Economic Personalism.  Of course, getting people to understand that may be another matter, but there is certainly enough evidence that something needs to be done:

Thursday, January 23, 2020

Life, Charity, and Justice

In classic Thomist philosophy, as we saw in the previous posting on this subject, the four natural virtues are temperance, fortitude, prudence, and — above all — justice.  According to Aristotle (and thus Aquinas), the capacity to acquire and develop these virtues is built into human nature.  No one is human without the capacity to acquire and develop these virtues, for that capacity (which is the good common to every human being) is what defines human beings as human beings.

Wednesday, January 22, 2020

The Meaning of Life

A sketch on the old Muppet Show with their very special guest star Harvey Korman had a panel discussion on The Meaning of Life.  Harvey Korman came down on the side of “Life is like a tennis game,” with which Miss Piggy disagreed, while one of the other panelists favored “Life is like a garbage dump.”  The discussion ended with a general exchange of insults and the announcement that the next discussion would cover whether conversation was a dying art . . . whereupon all the Muppets keeled over leaving Korman shaking his head.

Tuesday, January 21, 2020

We the People

It’s an absolute dogma of modern politics and economics.  Everyone has the right to what they need to live a decent life.  If people do not have what they need to do so, it is the responsibility of the State to see that they do, and all efforts are to be directed to the end of providing people with what they need.

Monday, January 20, 2020

Martin Luther King Summit

This week we bring you a repeat of the Summit on Martin Luther King, Jr. and the Just Third Way.  Enjoy!

Friday, January 17, 2020

News from the Network, Vol. 13, No. 03

We didn’t get too much news from our network this week, but there are a number of items of interest to adherents of the Just Third Way.  It’s just a coincidence it’s mostly about food and drink this week:

Thursday, January 16, 2020

A Missing Link

As we saw in the previous posting on this subject, in response to the “new things” of socialism, modernism and the New Age, in 1891 Pope Leo XIII proposed a program of expanded capital ownership.  This would empower people and families, giving them the opportunity and means to overcome the growing social alienation that had led to the development and growth of the new things in the first place.

Wednesday, January 15, 2020

New Things

In case you haven’t noticed, it has become increasingly frequent over the past couple of decades to demonize anyone who disagrees with you on virtually any subject.  We’d say, “on any subject,” but there must be some things that people don’t disagree on.  Somewhere.

Tuesday, January 14, 2020

Backwards It Getting

No, we’re not trying out a bad Yoda impression, although that might not be a bad idea if it brings in readers.  Or maybe a Darth Vader as (apocryphally) done by Tony Curtis in The Black Shield of Falworth?  “Luke, I am yer Fada.”

Monday, January 13, 2020

The Just Third Way on EWTN Live

Okay, admittedly the Just Third Way only comes in around the last quarter of the show, but at least half the studio audience stated explicitly that it was the best part of the show, and a number of other people concurred, judging from the mail we've received.  So, just in case you missed it when it was live or on some of the reruns, here is the January 8, 2020 EWTN Live show with your host Father Mitch Pacwa interviewing CESJ's Director of Research, Michael D. Greaney:

Friday, January 10, 2020

News from the Network, Vol. 13, No. 02

Perhaps the most unusual thing this week from the Just Third Way perspective is how no one seems to be questioning the incredible rise in share values on the stock market that is not linked to any discernible increase in the quantity or quality of marketable goods and services, i.e., “economic growth.”  Instead, the rise in share values is itself taken as “economic growth,” even though shares are not actually marketable goods or services.  Be that as it may, here are the Just Third Way highlights for this week:

Thursday, January 9, 2020

Debt and Taxes

According to an article in the December 27, 2019 Washington Post, in the middle of a presumably booming economy, Americans are drowning in non-mortgage consumer debt. (“Americans Piling Up Near-Record Levels of Credit Card Debt,” A-3.)  Unacknowledged in the story — or anywhere else — is the depressing (and sobering) fact that Keynesian economics and all derivatives, absolutely rely on non-productive spending for consumption, what Jean-Baptiste Say called “multiplying barren consumptions.”

Wednesday, January 8, 2020

Rethinking Saving for Retirement

It’s a truism that has become engrained into American life.  Go to school to get good grades.  Get good grades to get a good job.  Get a good job to get a good pension for retirement.  Be sure to save enough on the side in an IRA or 401(k) to supplement your pension and Social Security so you can afford to do all the fun things you see other people doing on TV.

Tuesday, January 7, 2020

The Idea of “Leisure Work”

In the previous postings on this subject we looked at the effect two key inventions, the cotton gin and the McCormick Reaper, had on society, whether for good or for ill.  The cotton gin made raising cotton profitable, while the McCormick Reaper made it possible to think about ending world hunger and famine.

Monday, January 6, 2020

Norman Kurland on the Harold Channer Show

Here's a video from not too long ago, September 18, 2000, featuring Dr. Norman G. Kurland, president of the Center for Economic and Social Justice (CESJ), having a conversation with Harold Channer on his show.

EWTN Live! and Ten Battles Everyone Should Know

A relatively short time ago the principal author of this blog had a book published by TAN Books.  With the title Ten Battles Every Catholic Should Know (2018), which will be featured — along with the author! — on EWTN Live! January 8, 2020, 8:00 pm EST on the EWTN Television Network, a cable television channel.  Check your local listings for when it airs in your area.  If you miss it or don’t have cable, EWTN usually puts the show up on YouTube within a couple of days.

Friday, January 3, 2020

News from the Network, Vol. 13, No. 01

The big news this week is actually for next week: Michael D. Greaney, CESJ’s Director of Research, is scheduled to appear on the Eternal Word Television Network’s show EWTN Live! with Father Mitch Pacwa, S.J.  In the expanded ownership arena, we kick off the year with the SECURE Act, that puts more power in the hands of participants in qualified retirement plans:

Thursday, January 2, 2020

A Tale of Two Machines, II: The McCormick Reaper

As we saw in the previous posting on this subject, the invention of the cotton gin revolutionized cotton production and, in a horrifying twist of fate, revived what to all appearances was a dying institution at the end of the eighteenth century: human chattel slavery.  Cotton was now phenomenally profitable as the world’s leading fiber, cheap, durable, and economical to produce . . . if you ignored the fact that it provided an excuse to enslave millions of human beings and wore out land at a tremendous rate.  When money talks, human dignity walks.

Wednesday, January 1, 2020