Economic Doubletalk, III: The Monetary and Credit Critiques

In our previous posting on this subject, we looked at the theoretical complaints of economists the AI engine “Claude” gave to explain why economists reject Louis Kelso’s Binary Economics.  While there was some validity to the theoretical complaints, they were fairly easy to deal with once we identified the differences in assumptions between Kelso’s Binary Economics and mainstream economics.  There was quite a bit of confusion, but that is only to be expected because many of the critics don’t really know too much about Binary Economics . . . and some of them aren’t too clear on their own paradigm, either.

JTW Podcast: The Consequences of Concentrated Wealth

When a handful of people own most of the productive assets in an economy, everyone else pays the price — in stagnant wages, hollowed-out democracy, and a future where AI and automation benefit only those who already own the machines. This video breaks down the consequences of concentrated capital ownership: the demand collapse it creates, the political corruption it enables, and the generational immobility it locks in.

News from the Network, Vol. 19, No. 20

With the signing of Pope Leo XIV’s first encyclical scheduled for today, there is the potential for the dawning of a new day for economic and social justice — and we intend to do what we can.  CESJ is not a Catholic or even a religious organization, and the Just Third Way is not a religious movement, but that doesn’t mean we shouldn’t take full advantage of the efforts of a global leader to bring some sanity and commonsense to the world . . . and (eventually) result in the adoption of the Economic Democracy Act:

Making Sense of Social Justice

FOR IMMEDIATE RELEASE

 

MAKING SENSE OF SOCIAL JUSTICE

A Guide to Understanding Magnifica Humanitas is Now Available in Spanish

 

(Arlington, Virginia, USA, May 15, 2026) Justice University Press, an imprint of the Center for Economic and Social Justice (CESJ), a think tank promoting a free market, private property-based approach to widespread capital ownership without redistribution, is pleased to announce the release of Personalismo Económico: Propiedad, Poder y Justicia para Cada Persona (ISBN: 978-1-60210-011-4), a book applying the personalist thought of Pope John Paul II. Translated into Spanish by Dr. María Teresa Rosón de Pérez Lozano of the Pontifical Catholic University of Argentina in Buenos Aires, Personalismo Económico makes Economic Personalism: Property, Power and Justice for Every Person (2020) by Michael D. Greaney and Dawn K. Brohawn available to a new audience.

A short but substantive work, Personalismo Económico presents a summary of natural law moral principles and sound methods of finance designed to establish and maintain economic justice for all. In English or in Spanish, Personalismo Económico is an essential orientation to understand and advance the message of Pope Leo XIV’s new encyclical for people of all faiths and philosophies everywhere.

Dar Sentido a la Justicia Social

PARA PUBLICACIÓN INMEDIATA

DAR SENTIDO A LA JUSTICIA SOCIAL

Una guía para comprender Magnifica Humanitas ya está disponible en español

 

(Arlington, Virginia, EE. UU., 15 de mayo de 2026) Justice University Press, una editorial del Centro para la Justicia Económica y Social (CESJ), un grupo de expertos que promueve un enfoque de libre mercado basado en la propiedad privada para una propiedad generalizada del capital sin redistribución, se complace en anunciar el lanzamiento de Personalismo Económico: Propiedad, Poder y Justicia para Cada Persona (ISBN: 978-1-60210-011-4), un libro que aplica el pensamiento personalista del Papa Juan Pablo II. Traducido al español por la Dra. María Teresa Rosón de Pérez Lozano de la Pontificia Universidad Católica de Argentina en Buenos Aires, Personalismo Económico pone a disposición de una nueva audiencia Economic Personalism: Property, Power and Justice for Every Person (2020) de Michael D. Greaney y Dawn K. Brohawn.

Una obra breve pero sustantiva, Personalismo Económico presenta un resumen de los principios morales de la ley natural y métodos sólidos de finanzas diseñados para establecer y mantener la justicia económica para todos. En inglés o en español, Personalismo Económico es una orientación esencial para comprender y promover el mensaje de la nueva encíclica del Papa León XIV para personas de todas las religiones y filosofías en todo el mundo.

A New Encyclical . . . So What?

Word on the street is Pope Leo XIV is issuing a new “encyclical” on May 15, 2026.  The document, provisionally titled Magnifica Humanitas (hmmm . . .) is expected to be a follow-up on Pope Leo XIII’s 1891 effort, Rerum Novarum, “On Labor and Capital,” which some (erroneously, if it matters) consider the first “social encyclical.”

JTW Podcast: Magnifica Humanitas and the Just Third Way

A new “encyclical” provisionally title “Magnifica Humanitas” (ouch!) is scheduled for release this coming Friday.   So . . . what has this got to do with CESJ or the Just Third Way?  Well, plenty.  Although CESJ is not a Catholic or religious organization, and the Just Third Way of Economic Personalism is not a religious movement, the “natural law” foundations of Catholic social teaching and the respect for human dignity are common to people of all faiths and philosophies.

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

The stranger things get, the more they seem to stay the same.  This, of course, argues that things are already so strange that they could hardly get more so.  This, if nothing else, is a good reason to adopt the Economic Democracy Act as soon as possible:

Economic Doubletalk, II: The Theoretical Critiques

In our last exciting episode, we looked at a list of reasons the AI engine “Claude” gave to explain why economists reject Louis Kelso’s Binary Economics.  We didn’t think the critiques were very good (or we wouldn’t be writing this blog, obviously) and they are very easily refuted.  This week we take the first group on the list, the “Theoretical Critiques”:

JTW Podcast: William Winslow Crosskey: The Forgotten Originalist

The thought of William Winslow Crosskey (1894-1968) is fundamental to the Just Third Way — and not because CESJ’s president, Norman G. Kurland, was a student of his in the late 1950s at the University of Chicago.  Crosskey took his law degree at a Yale still under the influence of the rigorous Wesley Newcomb Hohfeld (1879-1918, Fundamental Legal Conceptions, 1919) and was brought to Chicago by Robert Maynard Hutchins.

News from the Network, Vol. 19, No. 18

Making a long story short, the conclusion to be drawn from this week’s news items is that it would be better all ’round if the powers-that-be adopt the Economic Democracy Act as soon as possible: