They always say it’s always darkest before the dawn, although who this “they” are can be a trifle vague at times. In any event, it is easy to see in many of the news items reported this week how the Economic Democracy Act would be of immense benefit:
Louis O. Kelso
• Worsening Jobs Market. Much to the astonishment of people who refuse to recognize labor is not the predominant means of production, the labor-displacing effects of advancing technology, the detrimental effects of Keynesian economic policies and an unstable, government debt-backed reserve currency, and political programs which attack consumption and consumers, the “jobs market” is getting worse. Of course, this comes as no surprise to anyone familiar with Louis Kelso’s work and what he called “the economics of reality.” Reliance on jobs — human labor — for income in an economy in which technology is rapidly advancing and displacing human labor from production is a scenario guaranteed to make jobs obsolete in an economic sense, and an expensive conceit in a political sense. The real solution, as Kelso pointed out more than once, is to make it possible for ordinary people to become the owners of the technology that is doing the bulk of production of goods and services. That can be done by adopting the Economic Democracy Act.
• Your Robot Housekeeper. A few people today still remember the Jetson’s robot housekeeper, Rosie (originally Rosey), who seemed to have something of an attitude and yet often seemed more human than the (other) animated characters on the show. Although lacking the ’tude and the snappy comebacks, it appears science fantasy has finally become reality. As described in the article, “Having a robot housekeeper like Rosie from The Jetsons cartoon isn’t all that far-fetched. In fact, it’s becoming a reality — but with a few caveats. NEO is a humanoid robot designed to take on daily chores like taking out the trash, tidying rooms and offer personalized assistance. It was created by 1X, an artificial intelligence and robotics company based in Palo Alto, Calif. On Oct. 28, the company announced that the robot is now available for preorder from 1X.” The problem? Well . . . you have to be able to afford it in the first place, and you have to be okay with the fact that you’re doing a human being out of a job. What’s the solution? Well, why not make it possible for ordinary people to own the robots so that they get the profits and have an income? This can be done through the Economic Democracy Act.
BubblePlush Yoga Ball Buddies
• More Trump Tariff Trauma. It seems as if it never stops. According to an article in Bloomberg, “Ask Rick Woldenberg why he’s challenging President Donald Trump’s tariffs at the US Supreme Court, and he might mention a furry unicorn yoga ball. Woldenberg, who runs two educational-toy businesses near Chicago, says the BubblePlush Yoga Ball Buddies, designed to help kids control their emotions, has been hit especially hard by Trump’s fluctuating global tariffs. The BubblePlush, which also comes as a penguin or puppy, was slated to be made in China. But when Trump jacked up tariff rates to 145% on imports from that country in April, Woldenberg’s team scrambled to shift production to India, only to see Trump reduce the China duties and slap higher ones on India imports. The company rushed to have the goods arrive before the 50% India tariff took effect, but the shipment arrived six hours too late. ‘We paid a $50,000 penalty for that,’ Woldenberg said.” What is needed is a tax policy that makes sense and does not discourage business, at least too much. That can be achieved by adopting the Economic Democracy Act.
Jamie Dimon, Chairman and
CEO of JPMorganChase
• Bad Money After Worse. According to a press release of October 13, 2025, JPMorganChase is going to be putting tons of cash into something they should be allowing others to participate in without costing them a cent. As the press release states, “JPMorganChase today announced the Security and Resiliency Initiative, a $1.5 trillion, 10-year plan to facilitate, finance and invest in industries critical to national economic security and resiliency. As part of this new initiative, JPMorganChase will make direct equity and venture capital investments of up to $10 billion to help select companies primarily in the United States enhance their growth, spur innovation, and accelerate strategic manufacturing. ‘It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing – all of which are essential for our national security,’ said Jamie Dimon, Chairman and CEO of JPMorganChase. ‘Our security is predicated on the strength and resiliency of America’s economy. America needs more speed and investment. It also needs to remove obstacles that stand in the way: excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need.’” In other words, JPMorganChase is busily engaged in making the rich richer instead of the economy sounder in the interests of natural security. The solution? How about adopting the Economic Democracy Act.
• Household Debt at Record High. According to a report from ABC News, “Americans’ household debt levels – including mortgages, car loans, credit cards and student loans – are now at a new record high, according to date released Wednesday by the Federal Reserve Bank of New York. Total household debt reached $18.59 trillion from July through September of this year, up by $197 billion from the previous quarter. Overall debt levels are up by $4.4 trillion since the end of 2019, just before the pandemic recession.” In other words, ordinary people are drowning in debt . . . yet there is no other way to keep the Keynesian economy going, as Keynes himself admitted and relied on. Yes, it’s right there in his General Theory (1936). Frankly, the only solution is to allow ordinary people to own what is really producing and therefore generating income for the owner instead of redistributing what others produced. One way (perhaps the only way) to do this is to adopt the Economic Democracy Act.
• What is Causing the Divide? People keep talking about a “K-shaped economy.” What is it? More to the point, how did this happen? First the “what.” A “K-shaped economy” is one in which there are a few very rich people, many very poor people, and almost no people who are neither rich nor poor. Thus, a K-shaped economy is one which is top-heavy with a few very rich people, with the amount of wealth per individual is colossal. The amount of wealth is the top part of the K. At the bottom are a huge number of people with little or no wealth — the number of people is bottom part of the K. Right in the middle, where the three lines used to make the K join, are the people who are neither rich nor poor, which in a K-shaped economy means very, very few people. What causes it? Despite what academics and politicians think, a K-shaped economy is one in which a few people are extremely wealthy because they have access to capital credit, and many others are poor because they do not have such access. The solution, of course, is to make it possible for “the rest of us” to acquire and possess private property in capital, and that can be done by adopting the Economic Democracy Act.
• Goodies for Everybody. It’s nice when the government is so generous with its benefits — or in forcing others to bestow benefits (e.g., minimum wage laws, mandated benefits and conditions, etc.) but the question always remains who is going to pay for all of this. Given the already colossal U.S. government debt, which is unrepayable under current economic and financial assumptions, President Trump’s new gift to the American people has a potential $35 billion price tag. As the article states, “The fiscal implications of the new coverage policy are significant. The Congressional Budget Office (CBO) has estimated that covering these anti-obesity drugs through Medicare could increase federal spending by at least $35 billion from 2026 through 2034, with average costs per user around $5,600 in 2026, though competition and negotiations could drive these numbers lower over time. The national debt topped $38 trillion just weeks ago, with budget watchdogs at the Committee for a Responsible Federal Budget and the Peter G. Petersen Foundation decrying the runaway, escalating nature of America’s insolvency.” Who is going to pay? It’s not entirely clear (or clear at all) but one thing is certain. It would not even be an issue if Congress would adopt the Economic Democracy Act.
Final Issue
• Passing of an Era. As reported by CBS News, “Farmers’ Almanac said Thursday that its 2026 edition, which is already available, will be its last, citing the growing financial challenges of producing and distributing the book in today’s ‘chaotic media environment.’ Access to the online version will cease next month.” We’re not sure how the Economic Democracy Act could have helped, but there is probably some way.
• Greater Reset “Book Trailers”. We have produced two ninety-second “Book Trailers” for distribution (by whoever wants to distribute them), essentially minute-and-a-half commercials for The Greater Reset. There are two versions of the videos, one for “general audiences” and the other for “Catholic audiences”. Take your pick.
• The Greater Reset. CESJ’s book by members of CESJ’s core group, The Greater Reset: Reclaiming Personal Sovereignty Under Natural Law is, of course, available from the publisher, TAN Books, an imprint of Saint Benedict Press, and has already gotten a top review on that website. It can also be obtained from Barnes and Noble, as well as Amazon, or by special order from your local “bricks and mortar” bookstore. The Greater Reset is the only book of which we’re aware on “the Great Reset” that presents an alternative instead of simply warning of the dangers inherent in a proposal that is contrary to natural law. It describes reality, rather than a Keynesian fantasy world. Please note that The Greater Reset is NOT a CESJ publication as such, and enquiries about quantity discounts and wholesale orders for resale must be sent to the publisher, Saint Benedict Press, NOT to CESJ.
• Economic Personalism Landing Page. A landing page for CESJ’s latest publication (now with an imprimatur), Economic Personalism: Property, Power and Justice for Every Person, has been created and can be accessed by clicking on this link. Everyone is encouraged to visit the page and send the link out to their networks.
• Economic Personalism. When you purchase a copy of Economic Personalism: Property, Power and Justice for Every Person, be sure you post a review after you’ve read it. It is available on both Amazon and Barnes and Noble at the cover price of $10 per copy. You can also download the free copy in .pdf available from the CESJ website. If you’d like to order in bulk (i.e., 52 or more copies) at the wholesale price, send an email to info@cesj.org for details. CESJ members get a $2 rebate per copy on submission of proof of purchase. Wholesale case lots of 52 copies are available at $350, plus shipping (whole case lots ONLY). Prices are in U.S. dollars.
• Sensus Fidelium Videos, Update. CESJ’s series of videos for Sensus Fidelium are doing very well, with over 155,000 total views. The latest Sensus Fidelium video is “The Five Levers of Change.” The video is part of the series on the book, Economic Personalism. The latest completed series on “the Great Reset” can be found on the “Playlist” for the series. The previous series of sixteen videos on socialism is available by clicking on the link: “Socialism, Modernism, and the New Age,” along with some book reviews and other selected topics. For “interfaith” presentations to a Catholic audience they’ve proved to be popular, edging up to 150,000 views to date. They aren’t really “Just Third Way videos,” but they do incorporate a Just Third Way perspective. You can access the playlist for the entire series. The point of the videos is to explain how socialism and socialist assumptions got such a stranglehold on the understanding of the role of the State and thus the interpretation of Catholic social teaching, and even the way non-Catholics and even non-Christians understand the roles of Church, State, and Family, and the human persons place in society.
Those are the happenings for this week, at least those that we know about. If you have an accomplishment that you think should be listed, send us a note about it at mgreaney [at] cesj [dot] org, and well see that it gets into the next “issue.” Due to imprudent and intemperate language on the part of some commentators, we removed temptation and disabled comments.
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