Again the news items we’ve collected (entirely without prejudice, of course) graphically illustrate what has increasingly become the absolute need for something like the Economic Democracy Act as soon as possible — so why not now?
Robert Maynard Hutchins
• Sha-Na-Na Get a Job. As far back as the 1930s people like Robert Maynard Hutchins and Mortimer Jerome Adler were concerned about the trend of American education away from liberal arts and toward what amounts to job training . . . and not very effective job training at that. As Hutchins said in 1947, “The program of our schools is essentially a vocational program. Vocational training assumes that the boy will work under the geographical and technical conditions under which he has studied. . . . the product of vocational training finds his education a positive handicap to him in his vocation. As the experience of wartime showed, the place to train hands for industry is in industry. The aircraft companies produced better mechanics in a few weeks than the schools could produce in years. . . . The fallacious belief that education can in some way contribute to vocational and social success has done more than most things to disrupt American education.” (Robert M. Hutchins, The Education We Need. Chicago, Illinois: Henry Regnery Company, 1947.) That is why an article in The Guardian is hardly news. It seems that recent college graduates are having trouble finding the “good job” a college degree virtually promised them. As the article notes, “American college graduates are facing the worst entry-level job market since the pandemic, with the underemployment rate reaching 42.5% – its highest level since 2020.” The obvious solution is to take care of people’s income needs by adopting the Economic Democracy Act (EDA), and letting education do what it was always intended to. As Hutchins explained, “What education can do, and perhaps all it can do, is to produce a trained mind. Getting a trained mind is hard work. As Aristotle observed, learning is accompanied by pain. Those who are seeking something which education cannot supply are not likely to be enthusiastic about what it can supply, for the pain to them is excruciating.” (Hutchins, The Education We Need.)
• The Job Seeker Recession. Following up (sort of) on the item above, for far too many generations America’s youths have been told if they go to college, they are virtually guaranteed a job. There is also the idea that circulates constantly that only lazy people can’t find work, or that immigrants are stealing all the jobs and everything else they can lay their hands on. To make things even more confusing, an article from the Business Insider talks about the “job seeker recession.” And that is? According to the article, “More than seven million unemployed Americans are facing a job market that, by hiring measures, looks like a recession. Meanwhile layoffs and unemployment are relatively low, creating a split labor market that is stable for people who have jobs, and recession-like for those trying to find one.” Now, aside from the near-complete . . . we’ll say “naiveté” of the statement — tell us when, as a rule, things weren’t good for people with jobs and bad for those without jobs? The fact is, things can be wonderful for those for whom the system is working and lousy for the other 99.99%. The fact is, the current system is in the paradoxical situation of having been designed for the benefit of all but is being (mis)used for the benefit of a very few, with far too many dependent for their wellbeing on the goodwill of those very few. Obviously, this must change, and the only way we see to do it without bloody revolution or overwhelming social disruption is to adopt the Economic Democracy Act (EDA).
• The “Unexpected” Inflation. Try not to gasp in astonishment, but according to an article in Yahoo! Finance, “Prices Are Beginning to Rise Faster Than Americans’ Wages.” No! We are shocked, shocked to have this pointed out to us. As the article notes, “Underscoring Americans’ deepening concerns about affordability: Their pay gains are on the verge of being overtaken by price increases. . . . ‘Inflation is almost eating up the entirety of Americans’ wage gains already,’ Heather Long, chief economist at Navy Federal Credit Union, said in a note. ‘It will almost certainly mean inflation is above wages by April or May. That is painful. That means many Americans truly are under pressure financially and having to make tough decisions about what to buy and what to skip.’” Frankly, the only surprising thing about this news item is that it is considered news. The prevailing Keynesian economic paradigm assumes as a given that we must have inflation and that there is an essential trade-off between employment and inflation . . . all of which is utter nonsense from the perspective of the Just Third Way of Economic Personalism, especially as applied in the proposed the Economic Democracy Act (EDA). What’s the solution? . . . as if you didn’t know? Adopt the EDA, especially (in this context) the monetary reforms so that inflation is no longer viewed as a governmental policy tool and people can enjoy a stable currency, stable prices, and a rational system of finance, with the people in charge instead of whoever happens to be in government at the time.
• The Sandwich Generation. It’s getting hard to keep up with the generations . . . we fear there is a serious generation gap among the Greatest Generation, the X-Generation, the Millennials, the Biennials, the Z-Generation, etc., etc., etc., and now the “Sandwich Generation.” Much to our surprise (and disappointment) it doesn’t have anything to do with two slices of bread and a filling. Instead, it refers to those people caught between caring for the generations younger and older than they are at the same time. As noted in an article in USA Today, “Sandwich generation caregivers . . . are out tens of thousands of dollars every year in care costs. Some families spend money directly on care, and other families, . . . lose wages by stepping away from work to care for their loved ones. Other families spend on care and simultaneously cut work hours, compounding their losses. The bottom line: Many sandwich generation families' bottom lines are in the red.” As you might expect, we have our standard answer for this and similar situations: adopt the Economic Democracy Act (EDA). Will the EDA solve all problems? No, and we never claimed it would — just the ones we choose to report in these news items.
• Millions of Millionaires. Believe it or not, but according to an article recently published in the Washington Post, “Average net worth in the United States is over $1 million per household, Federal Reserve data shows, with roughly 1 in 6 families surpassing the seven-figure mark.” Given that the number of families (households?) in the United States is estimated at 84.2 million with an estimated population of just under 350 million (or a little over 4 people per family, if you do the math), there are approximately 14 million millionaires — at least (23.8 million in some sources) — in the United States . . . and yet people, even millionaires, are feeling the pinch and don’t feel that a million dollars represents the milestone it used to. As the article explains, “[M]any of the country’s newest millionaires say that even with such wealth, they still feel undeniably middle-class. In many parts of the country, $1 million has become a starting point for the American Dream. . . . ‘It’s a milestone, but having a million dollars doesn’t mean you’re super wealthy anymore,’ said Nathan Winklepleck, 36, a financial adviser with Donaldson Capital Management near Indianapolis who recently passed the millionaire threshold with his wife. ‘It’s not quite what it used to be in terms of rarefied status.’” Well, it’s all sort of relative, because having a net worth of $1 million is still pretty fantastic, even if it means you’re “only” middle class, which is pretty good considering what a few billion other people have to live on. That’s why we don’t foresee increasing the proposed $1 million under the Economic Democracy Act (EDA) for tax-deferred accumulation of qualified shares. The EDA accumulation is intended as a core income, not necessarily a sole source of income. Even multi-billionaires might take advantage of the EDA tax deferral, even though it would be essentially meaningless for them (except to set an example for the rest of us to underscore the truly democratic nature of the EDA) and wouldn’t even be a blip on the radar in its economic effect. The EDA would — if implemented and operated as intended — make a truly economic democracy possible for the first time in history.
• A Boaring Story. The honorable — or at least human — occupation of swineherd has now been taken over by AI. According to an article in Fox Business, “A humanoid robot known as Edward Warchocki was captured on video chasing a group of wild boars in Warsaw, Poland, in a bizarre encounter that has quickly gained traction online. Video of the incident shows the robot moving toward a small group of boars gathered near the roadside, prompting the animals to scatter and retreat as the machine advances. The brief clip highlights the unusual sight of a human-like machine confronting wildlife in an urban setting.” As the voiceover on the video clip notes, wild boars are very intelligent, but it doesn’t mention just how dangerous they are; before firearms, when you went boar hunting you were wise to wear armor and carry a special spear designed to protect the user from a charging boar impaling himself and running up the shaft to chew your arm off. The only feature of this we don’t like is the probability under today’s conditions that the human swineherds “Edward” replaces won’t get to own their own robots and continue to make a living. This, however, could change if Poland — or anywhere else — adopted the Economic Democracy Act (EDA).
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| "That's not MY progressivism!" |
• Yes, But What Do You Mean by Progressivism? And, of course, What do you mean by “America”? Justice Clarence Thomas has come out with a warning against something he calls “progressivism” and how it has the potential to destroy America. By America, we assume he means “the United States of,” and by “progressivism” we assume he means “radical ideological liberalism.” We do not think either of these labels is entirely accurate, but whether you call the USA “America” or “the United States” still begs the question: What does His Honor mean by “America”? In an article in ABC News, he is quoted from a speech he recently gave, which really doesn’t help: “Supreme Court Justice Clarence Thomas on Wednesday delivered a televised broadside against progressivism, a political philosophy he described as an existential threat to America and the principles that founded it 250 years ago. ‘Progressivism seeks to replace the basic premises of the Declaration of Independence and hence our form of government,’ Thomas said in a speech at the University of Texas Austin Law School pegged to the nation’s upcoming milestone birthday. A spirit of ‘cynicism, rejection, hostility and animus’ toward America — by Americans — has taken hold, Thomas said in remarks carried live on CSPAN.” In our opinion, the only way to counter the “existential threat” and quite a few others is to empower ordinary people so that they no longer feel the “spirit of ‘cynicism, rejection, hostility and animus’ toward America” they currently feel is to make certain everyone owns a piece of it. American statesmen of an earlier day told us why; as Daniel Webster noted in 1820, “Power naturally and necessarily follows property.” If you want to stop “progressive” destruction of the United States, turn people into capital owners, and the way to do that is to adopt the Economic Democracy Act (EDA).
• 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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