Time again for another round of how much better things would be if we just got our acts together and adopted the Economic Democracy Act as soon as possible . . . otherwise known as the weekly news roundup:
George Mason
• The Virginia Declaration of Rights. Today is the 250th anniversary of the adoption of the Virginia Declaration of Rights, the first article of which states, “That all men are by nature equally free and independent, and have certain inherent rights, of which, when they enter into a state of society, they cannot, by any compact, deprive or divest their posterity; namely, the enjoyment of life and liberty, with the means of acquiring and possessing property, and pursuing and obtaining happiness and safety.” There’s nothing to disagree with here . . . except the phrase “when they enter into a state of society”, which was inserted over the protests of George Mason who drafted the document. Why did it bother Mason? Because the “conservatives” who insisted on the qualification thought — correctly — that Mason (a slaveowner) wanted to abolish slavery . . . and adding “when they enter into a state of society” gave the slaveowners who did not want to abolish slavery an out by claiming slaves are not members of society! Sorry — all human beings are by nature members of society (“political animals”), and automatically have the natural rights to life, liberty, and private property. Frankly, the qualification was directly contrary to both John Locke, who thought human beings outside society in a state of nature have all rights but surrender some of them to gain the advantages of society, and the Aristotelians who thought human beings’ “state of nature” is IN society and thus have all rights automatically, although their exercise is necessarily limited. What is to be done? How about everyone recognizing that every human being has the natural rights to life, liberty, and private property, and that they are (as far as we know) best defined as to exercise in the the Economic Democracy Act (EDA).
• The Vanishing Entitlement. For years people have been complaining that Social Security takes “their” money and fritters it away. Now we have a report that what is somewhat misleadingly called the Social Security Trust Fund could disappear in six years. As reported in Yahoo! Finance, after chanting for years that there is nothing to worry about, the trustees are warning that there could be nothing there in six years. News flash: there is nothing there now. That money paid into the fund? It was used to purchase government bonds. In other words, the government collected the money, replaced it with an IOU, and spent it. It’s the same as if you borrowed $1 million, spent it on wine, women (or men) and song, and replaced it with an IOU and assured your creditor you still had all the money because the IOU just means you owe the money to yourself, so it’s an asset! No, it means you still owe $1 million you don’t have. As for the money paid into Social Security being “your” money . . . no, it’s not. It’s the government’s money. It’s a tax, not a contribution, and the U.S. Supreme Court agrees. The only real solution is as given in the Economic Democracy Act (EDA): keep all existing promises, make the system need-based, merge the special tax into general revenues, and give everyone the opportunity and means to own other income generating capital instead of relying on a government entitlement.
• Why Not Own It? It’s confusing . . . but, of course, these days, what isn’t? Anyway, what to do about AI is consuming people’s brain space and time, and they still don’t know what to do about it. It has gotten to the point that AI is developing AI and human beings are seen as a drag on the system. An AI company is calling for a pause in AI development. Why doesn’t anyone see that the first step in controlling AI is for as many actual human beings as possible to own the AI, and the way to do that is by adopting the Economic Democracy Act (EDA).
• More SpaceX Trauma. In addition to a “few” questionable aspects of Elon Musk’s (in)famous SpaceX IPO — such as not passing through real rights of ownership for a company that has yet to show a profit — it is both the largest IPO in history and quite possibly the most hyped. As that, as noted in the Business Insider, is a problem. As the article states, “that type of anticipation is a double-edged sword. Soaring investor excitement can turn into volatility to chase the hype and cash in early gains. There's also the question of a historic valuation for a company that is not profitable. So, for anyone wondering whether to buy the stock when it starts trading or hold off, we've rounded up the thoughts of eight investing pros to help you decide.” The majority say NO, and the rest say yes . . . cautiously, if you can buy at the offering price and then forget about it for a few years or decades. It will be too volatile to consider doing anything else . . . unless you’re a gambler and think Musk is a financial god sure to win. Fortunately, if the Economic Democracy Act (EDA) were to be adopted, it wouldn’t be affected, because the SpaceX IPO uses existing savings, and the EDA uses future savings . . . and properly vetted companies that actually make a profit.
• Everybody Will Be Rich!! After all, if you live in a house that costs $1 million, you’re rich, right? . . . or does it just mean that inflation is out of control and prices are going so high no one is ever going to be able to catch up unless you’re Elon Musk and have more money than God. As reported in the Business Insider, “For years, prospective buyers have faced a punishing mix of too few homes for sale, high mortgage rates, and persistently high home prices. Those pressures have pushed homeownership out of reach for many Americans. Unfortunately, affordability could get even worse in the years to come. At an economic forum during the National Association of Real Estate Editors conference in June, National Association of Realtors chief economist Lawrence Yun told a room full of journalists that he expects the median single-family home sale price to reach $1 million by 2050.” This graphically illustrates the decay of “the American Dream.” It used to be owning a farm or business, then having a good job, then having a house . . . now it’s whether you can get enough income and a place to live. As usual, of course, the solution is not to shrug your shoulders and wish things were better, but to adopt the Economic Democracy Act (EDA).
• The AI “Boomerang”? They are calling it “the AI Boomerang” but not using Charlie Drake’s little ditty as a theme song. As reported in Gadget Review, “The grand AI automation revolution just hit a speed bump. Two-thirds of companies that laid off workers for artificial intelligence are now rehiring some of those same employees, according to new research from outplacement firm Careerminds. Turns out, replacing humans with chatbots is harder than the press releases suggested.” Well, yes, we could have told them that . . . but it is still a serious danger, because as soon as employers figure out a workaround, those rehired workers are going to be out the door again — or the workers will be gone as soon as they get a better offer. After all, why should they be loyal to an employer who has already proved he/she/it isn’t loyal to them? The answer? You guessed it, adopt the Economic Democracy Act (EDA) and build both loyalty and economic security that are sustainable.
• The Visible Phantom. It’s sort of an economic “ghost who walks” like Lee Falk’s famous cartoon character the Phantom . . . except instead of a reality that becomes myth like Christopher Walker, most of the inflation in the world today is the result of a myth that becomes reality. In Keynesian economics, the myth is that if you manipulate the currency, back it exclusively with government debt, and swear an oath to fight piracy, greed, cruelty, and injustice . . . you’ll end up with a society in which piracy, greed, cruelty, and injustice run rampant . . . but it’s okay, because Keynes assured us if we just lie to ourselves for at least a century, everything will work out okay. We just have to chant that fair is foul and foul is fair. Well, the century is almost up, and things aren’t getting better. In fact, they’re getting worse. As reported in an article in the Associated Press, “U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by a surge in energy prices after the start of the Iran war.” Not surprisingly, the only solution to this mess is not to lie to ourselves for a century — or at all — but to adopt the Economic Democracy Act (EDA).
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• Labor in Lockstep. The problem with “one size fits all” is that usually — like the bed of Procrustes — the one size rarely fits anyone, and virtually everyone pays the price for not being able to fit in. That is why, as reported in Reason, a new piece of pro-labor legislation that recently passed the House and will now go to the Senate may ultimately be one of the most extraordinarily anti-worker measures ever adopted. As noted in the article, the new law would greatly accelerate the collective bargaining process and take away all “right to work” provisions by forcing all workers to be covered by the negotiated contract, even non-union members. Not all bargains reached quickly or in a panic are just or fair, and mandating everyone be covered regardless of their personal wishes can also lead to significant injustices and abuses. Of course, the measure assumes as a matter of course that the government knows better than anyone what is best for everyone, and that workers are utterly helpless unless government takes charge. That may be true in the current state of society, but the solution is not to lock it in, but to reform society so that workers have power naturally — by owning capital. As Daniel Webster noted more than two centuries ago, “Power naturally and necessarily follows property.” The best way we know of to put power back into ordinary people’s hands is not to give all power to government, but 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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