JTW Podcast: Analytic Philosophy Part 3: Language and Meaning

 Today, we present Part 3 of Professor Dave’s talk on analytic philosophy.  As Professor Dave says, “Continuing with analytic philosophy, after the Vienna Circle had its influence, the tradition continued and grew into several new areas, inspired largely from Wittgenstein and other prominent figures. John L. Austin developed his theory of meaning through speech acts. Noam Chomsky developed his concept of universal grammar. Let's learn about this and more!”:

News from the Network, Vol. 18, No. 46

 This week’s news items seem strangely familiar yet at the same time surreal.  Still, the constant theme is how much better most people’s lives could very well be if we would adopt the Economic Democracy Act:

The Meaning and Purpose of Life, III: What is Social Justice?

 Last week we looked at the question of “justice as love.”  This week we look at the question of “social justice”.  This will baffle many people today, because they think they have already answered the question, and the answer they have is that something called “social justice” replaces and transcends both justice and charity as traditionally understood.

JTW Podcast: Continental Philosophy Part 2: The Frankfurt School

 Today, we return to a sequential order and present the second part of Professor Dave’s talk on continental philosophy.  As Professor Dave says, “Pivoting back to continental philosophy, we must discuss a very important movement in this tradition, and that is the Frankfurt School. This group utilized the ideas of Marx and Freud to advance the field, led by figures like Max Horkheimer and Theodor Adorno. Let's see what they were all about!”:

News from the Network, Vol. 18, No. 45

 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:

The Meaning and Purpose of Life, II: Justice as Love

In Part I of this article, we looked at the question, “Why do I exist?” as answered by the legendary Fulton Sheen.  Admittedly, Sheen’s answer was framed within a specific philosophy and religious faith, but that takes nothing away from its universality.  To summarize, the meaning and purpose of life is to become more fully human by conforming yourself to human nature.

JTW Podcast: Analytic Philosophy Part I: Dewey, Russell, and Whitehead

Today, we present the first part of Professor Dave’s talk on analytic philosophy.  This breaks the sequence a bit, but we think there must be a reason Professor Dave presented the lectures in this particular order.  In any event, as Professor Dave says, “Pivoting from the continental tradition, let's introduce the analytic tradition that also emerged at the beginning of contemporary philosophy. This involved figures such as John Dewey, Bertrand Russell, and Alfred Whitehead. What were they all about, and how did they differ from the continental philosophers?”:

News from the Network, Vol. 18, No. 44

 Boo.  Happy Halloween, whatever a “happy” Halloween consists of.  You want something really scary, though, take a look at today’s economy without the Economic Democracy Act:

The Meaning and Purpose of Life, I: The Burning Question

If we believe media hype and the typical behavior of other people, the answer to the question as to the meaning and purpose of life is to be better, have more, or do more than someone else.  If we believe philosophers and spiritual leaders, however, we tend to come up with a different response, and one that argues a fundamentally different orientation than treating other people as either competition or accomplices.

JTW Podcast: Continental Philosophy Part I: Husserl, Bergson, Heidegger, and Jaspers

Today, we present the first part of Professor Dave’s talk on continental philosophy.  As Professor Dave says, “With modern philosophy covered, let's cross over into contemporary philosophy. And let's begin by introducing the continental tradition in this time period. This included philosophers like Husserl, Bergson, Heidegger, and Jaspers. Let's see what they were all about!”:

News from the Network, Vol. 18, No. 43

 Rising national debt, job loss, AI bubble . . . is there any good news this week?  Yes — the good news is that there is a solution: the Economic Democracy Act:

The Blind Leading the Blinder

We may have mentioned one or two dozen (or hundred) times how much we like it when people ask us questions we can answer and then use as a posting on this blog.  What we like even better is when someone takes the bull between the teeth or the bit by the horns and writes the entire blog posting for us, with only a little bit of editing and formatting to make it fit our needs.

JTW Podcast: Logic in Late Modern Philosophy

Today, we present Professor Dave’s talk on logic in late modern philosophy.  As Professor Dave says, “How did logic continue to develop as the modern period in philosophy progressed? Mill and Comte discussed the inverse deductive method. But then a huge figure arose, George Boole. He innovated new logical symbology that got us closer to reducing logic to pure mathematics. Then Peirce developed abductive or retroductive logic. Let's get a closer look at these figures now!”:

News from the Network, Vol. 18, No. 42

 Believe it or not, there is an alternative to debt and taxes . . . it’s debt or taxes, and for a government, it’s better to go with taxes and live within its means as proposed in the Economic Democracy Act:

The Economic Answer to AI, II: The Spread of the Problem

In the previous posting on this subject, we noted — consistent with the Past Savings and the Sole Ownership assumptions combined with the Labor Theory of Value — most of “the rest of us” in the present day are constrained to wages and welfare for our subsistence.  Government policy has thus been focused on (as one of the founders of the Center for Economic and Social Justice used to put it while mimicking playing a cello) “jawbs, jawbs, jawbs” . . . with no thought as to what was behind the, er, “jawbs.”

JTW Podcast: Logic in Early Modern Philosophy

Today, we present Professor Dave’s talk on (obviously) logic in early modern philosophy.  As Professor Dave says, “With modern philosophy somewhat understood, it's time to pivot and see how logic developed during this time period. First, in the early part of this period, Pascal's wager was an important development, which was followed by the Port Royal Logic. There were also important developments by Kant, Bacon, Hume, Mill, and Llull. Let's see how Aristotelian logic developed during this time!”:

News from the Network, Vol. 18, No. 41

Again, much of this week’s news items wouldn’t be news items if the Economic Democracy Act: had been adopted.  Keep that in mind as you read:

The Economic Answer to AI, I: The Problem

 Recently we re-read New America (1983) by the late Poul Anderson, a compendium of four related science fiction novellas tied together into a coherent whole.  It was, as is typical of Anderson’s work, well-written, fitted within known science and social trends at the time it was published, and dealt with serious themes in a thoughtful yet entertaining manner.

JTW Podcast: Late Modern Philosophy Part 2: The Roots of Analytic Philosophy

 Today, we present “Part 2” of Professor Dave’s talk on Late Modern Philosophy, this one on “Analytic Philosophy.”  He doesn’t mention Comte’s reliance on Henri de Saint-Simon and socialist theology (“modernism”), but what the heck.  As Professor Dave says, “We just introduced continental philosophy, so let's take a look at the analytic tradition that arose around the same time, as the modern era was drawing to a close. Of the two schools, this was the one more concerned with philosophy of science and epistemology, which came about through figures like Comte, Spencer, Peirce, and others. Let's get a sense of this school now”:

News from the Network, Vol. 18, No. 40

 As usual, much of this week’s news items wouldn’t be news items if the Economic Democracy Act: had been adopted.  Keep that in mind as you read:

Why Economists Reject Binary Economics, VI: “Limited Academic Influence and Institutional Support”

 After a brief hiatus, we are returning to our series on “Why Economists Reject Binary Economics.”  Unfortunately, the reasons the so-called experts refuse to give Binary Economics consideration do not improve with age.  Binary Economics, however, continues to advance and refine its theories and applications and ages like wine, while so-called “mainstream economics” (i.e., Keynesian, Monetarist, and Austrian) continues to degenerate and ages like milk. 

JTW Podcast: Late Modern Philosophy Part 1: The Roots of Continental Philosophy

 Today, we present “Part 1” of Professor Dave’s talk on Late Modern Philosophy.  As Professor Dave says, “Modern philosophy began to approach its final stages in the early 19th century as two important groups began to form. These are the continental and analytic traditions, and these two groups will guide our investigation for the next significant portion of the series. Let's start out by examining the roots of continental philosophy, by focusing on figures like Schopenhauer, Kierkegaard, Emerson, and Nietzsche.”:

News from the Network, Vol. 18, No. 39

 Much of this week’s news items wouldn’t be news items if the Economic Democracy Act: had been adopted.  Keep that in mind as you read:

The Trumpet Must Sound

 Today we have a guest blog from Mr. G.C. Stevenson, a regular reader who was the “prime mover” behind the republication of Fulton Sheen’s “long lost” classic, Freedom Under God.

Fulton Sheen’s Warning for a Nation in Moral Freefall

By G.C. Stevenson

JTW Podcast: Political Philosophy Part 2: Wollstonecraft, Bentham, Mill, and Marx

 Today, we present “Part 2” of Professor Dave’s talk on Political Philosophy.  As Professor Dave says, “We just got an introduction to modern political philosophy, so let's continue by looking at some additional important figures approaching the contemporary era. These are Mary Wollstonecraft, Jeremy Bentham, John Stuart Mill, and Karl Marx. This was a time when humanist ideas began to shape society, as marginalized groups began to seek rights, and critiques of capitalism arose. How did these figures come up with the ideas that would underscore much of the changes to come in the 20th century?”:

News from the Network, Vol. 18, No. 38

As has become usual, this week’s news items reflect the chaos of both Keynesian economics and contemporary politics.  Naturally, we think the way to correct the situation is to adopt the Economic Democracy Act:

What’s So Great About Louis Kelso?

 Louis O. Kelso is today best known as the inventor of the Employee Stock Ownership Plan (ESOP).  Despite the near-total global hegemony of Keynesian economics which assumes nothing can be done unless wealth is concentrated and government must be in charge of everything, the ESOP remains important to broaden the base of capital ownership.

JTW Podcast: Political Philosophy Part 1: Machiavelli, Rousseau, and Smith

Today, we present “Part 1” of Professor Dave’s talk on Political Philosophy.  As Professor Dave says, “With an understanding of the most important movements in modern philosophy, those being rationalism, empiricism, and idealism, we are ready to see how these modes of thought influenced politics, by examining the political philosophy of the era. Key early figures in this time were Niccoló Machiavelli, Jean-Jacques Rousseau, and Adam Smith, among many others. What ideas were they working with at the time?:

News from the Network, Vol. 18, No. 37

 There seems to be a focus this week on how a combination of AI and Trump’s tariffs are taking jobs.  Naturally, the solution is to adopt the Economic Democracy Act, which we may have mentioned once or twice:

The Rich are Different

 Ordinary people’s reactions regarding the possibility of getting the Economic Democracy Act adopted soon — or at all, for that matter — often take the form of asserting “they” won’t go for it or allow it.  And who are “they”?  The rich, the powerful, those who rely on the rich and powerful or want to, or who are afraid of them.

What Would Trajan Do? Part II

 As we saw last week, Ancient Rome had a problem with slaves convicted of crimes doing the work of honest municipal slaves, receiving pay and benefits, and generally causing scandal by taking jobs from other slaves and foreigners.  Still, rather than simply get rid of the illegal slaves (which would have exacerbated the chronic labor shortage), the Emperor Trajan came up with a solution.

JTW Podcast: Idealism Part 2: Fichte, Schiller, Hegel, and Schelling

Today, we present “Part 2” of Professor Dave’s talk on Idealism.  As Professor Dave says, “We introduced the movement of idealism and discussed its most important early proponents, such as George Berkeley and Immanuel Kant. Now let's examine the key figures that were to follow, including Johann Fichte, Friedrich Schiller, Georg Hegel, and Friedrich Schelling. Where did they take these ideas? Let's find out!”:

News from the Network, Vol. 18, No. 36

 The global economic and political situation remains such that we could pretty much just run the News from the Network from the previous week, and some people wouldn’t even notice.  If you want to see something different, then, get Congress to adopt the Economic Democracy Act:

Who Will Own America?

Back at the dawn of the 20^th century, Judge Peter Stengar Grosscup (one of Theodore Roosevelt’s “Trust Busters”) published a series of articles on the importance of ordinary Americans becoming owners of the commercial, industrial, and agricultural productive wealth.  One of these articles was titled “Who Shall Own America?”, published in the December 1905 issue of The American Magazine.

JTW Podcast: Idealism Part 1: Berkeley and Kant

 Today, we present “Part 1” of Professor Dave’s talk on Idealism.  This starts to get into the area of what Catholic social teaching evolved directly to counter; in a sense, Emmanuel Kant did to Protestant Christianity what Félicité de Lamennais did to Catholic Christianity: remove individual intellect and make everything faith-based (to grossly oversimplify).

News from the Network, Vol. 18, No. 35

 Heavy sigh.  One of the problems with reporting on what is going on economically and how it affects the Just Third Way of Economic Personalism is that the basic situation doesn’t seem to be changing because too many people keep making the wrong assumptions about the way the world really works economically — and only adopting the Economic Democracy Act will resolve the issue:

What Would Trajan Do? Part I

 Once upon a time, in the glory days of the Roman Empire, Pliny the Younger had a problem.  It seems certain slaves of the lesser sort — those who had been condemned to slavery for criminal activities — had managed to insinuate themselves into the ranks of municipal slaves.

JTW Podcast: Empiricism Part 2: Locke, Hume, and Voltaire

Today, we present “Part 2” of Professor Dave’s talk on Empiricism.  As Prof. D. says, “We’ve learned about the early figures in the empiricist movement, so let’s continue along the timeline to examine John Locke, David Hume, and Voltaire, among other key figures in the late 17th century. Empiricism helped set the tone for contemporary philosophy, so let's see what these philosophers had to say!”:

News from the Network, Vol. 18, No. 34

 Quite a bit about how AI is replacing human labor from the production process and none of the so-called experts or the powers-that-be appear to be understanding the implications of this.  In the Keynesian universe, all production is due to human labor . . . but what do you do if human labor is completely removed from the production process?  Do we eliminate the excess people?  Or turn people into the owners of the technology that is replacing them?  The latter is the solution in the Economic Democracy Act:

Own or Be . . . What?

 AI — Artificial Intelligence — has been in the news a lot recently.  Possibly this is because the powers-that-be and so-called world leaders seem to exhibit so little of the natural kind.  That purportedly being the case, a regular reader of this blog began asking questions of AI (who better to ask?) about what people who have always worked for a living or who expected to have to work for a living are going to do when AI has taken all the jobs, the Universal Basic Income bites the dust, and the government can no longer fund welfare or even Social Security.

JTW Podcast: Empiricism Part 1: Da Vinci, Bacon, and Hobbes

Today, for our 400^th podcast, we return to Professor Dave who “knows a lot of stuff.”  We don’t always agree with him, but at least we can figure out what those disagreements are!  This podcast is about empiricism.  As Professor Dave says,

News from the Network, Vol. 18, No. 33

 It appears that the somewhat delayed effect of the Terrible Trump Tariffs will soon be kicking in, and “the average American” — despite all the promises made — will soon be kicked in the teeth by rising prices and disappearing jobs, neither of which will be fixed by trying to change reality.  The only real solution is to adopt the Economic Democracy Act as soon as possible:

Why Economists Reject Binary Economics, V: “Perceived Policy Risks and Inflation Concerns”

The four previous postings on this subject — why so-called mainstream economists reject Binary Economics — we have looked at 1) Lack of Empirical and Econometric Support, 2) Heterodox and Non-Conventional Framework, 3) Criticism of Core Concepts, Particularly “Productiveness”, and 4) Negative Reception by Prominent Economists.  This last, the “negative reception” by prominent economists, is possibly the weakest reason given.

JTW Podcast: The Social Program of Pope Leo XIV

Many people are intrigued by the first U.S.-born pope’s choice of regnal name and his declaration that he would take Pope Leo XIII’s 1891 encyclical, Rerum Novarum as his guide.  What does this mean not merely for Catholics, but for everyone?  Dawn Brohawn and Michael D. Greaney give their thoughts on the matter:

News from the Network, Vol. 18, No. 32

 It continues to be difficult to report on news items relating to the Just Third Way when the media are filled with the economic chaos being spread without regard of anything connected to reality.  As always, however, we believe the solution to the chaos and quite a few other things is to adopt the Economic Democracy Act:

Why Economists Reject Binary Economics, IV: “Negative Reception”

 In the three previous postings on this subject, we have been examining (as the title of this posting suggests) why mainstream economists reject Binary Economics.  So far, we have looked at 1) Lack of Empirical and Econometric Support, 2) Heterodox and Non-Conventional Framework, and 3) Criticism of Core Concepts, Particularly “Productiveness”.  Today we look at perhaps the weakest reason, even though some in the modern world give it the greatest weight: Negative Reception by Prominent Economists: the “Non amo te, Sabidi” (“I do not like thee, Doctor Fell”) syndrome:

JTW Podcast: Louis Kelso on 60 Minutes

Mike Wallace interviews the inventor of the ESOP (Employee Stock Ownership Plan), Louis O. Kelso. They discuss ESOP Pros and Cons, ESOP detractors, and Kelso answers the question: “What is an ESOP?”

News from the Network, Vol. 18, No. 31

 With an appalling sameness, this week’s news items strongly resemble those of last week . . . and the week before . . . and the week before that, and so on.  Some of the reasons are given below in the items listed, but frankly, this situation is going to continue until the Economic Democracy Act is adopted:

Why Economists Reject Binary Economics, III: “Particularly ‘Productiveness’”

 One of the many things conventional mainstream economists find annoying (i.e., incomprehensible) about Binary Economics is the idea of “productiveness.”  In Binary Economics, productiveness is not a synonym for productivity.  It is, rather, an acknowledgement that there is more than one factor of production and that each makes a definable and independent (although not autonomous when the factors are combined) contribution to production.

JTW Podcast: Capital Credit Insurance and Reinsurance

Economic Democracy Act: Expanding Capital Credit and Ownership for All

 

Discover how “the Economic Democracy Act” aims to democratize access to capital ownership through reforms like capital credit insurance and reinsurance.  This video delves into how the Act would make acquiring productive capital a fundamental right, facilitated by interest-free loans and paid off through tax-deductible dividends. Key topics include the establishment of commercial loan default insurance, the role of a Capital Credit Reinsurance Corporation as a backup insurer, and the benefits of commercial portfolio insurance in protecting retirement assets. Learn how this initiative could transform economic opportunities and ensure financial security for every citizen.

News from the Network, Vol. 18, No. 30

 The news items this week reflect the same problem we noted last week: that under the current administration the term “developing story” has ceased to have any real meaning.  Chaos, both political and economic, seems to be the order of the day.  We do have to wonder when the powers that be are going to wake up and adopt the Economic Democracy Act:

Why Economists Reject Binary Economics, II: Heterodox and Non-Conventional

 As John Maynard Keynes famously declared in the conclusion of his General Theory of Employment, Interest and Money (which is not general or much of a theory, and — being obsessed with the Fabian socialist doctrine of “full employment” — has little to do with the real meaning of interest and money),

JTW Podcast: The Economic Democracy Act

 The Economic Democracy Act: Universal Path to Wealth and Economic Power In the first part of our series on the Economic Democracy Act, we delve into the economic disparities rooted in concentrated capital ownership. Historically, wealth and power were tied to land ownership, but today's wealth is generated by technology and income-producing assets. The Economic Democracy Act proposes groundbreaking national legislation to democratize ownership by providing every citizen, from birth to death, equal access to capital credit to invest in profitable, growing businesses. By breaking down barriers in the money system, this act aims to create an economically independent and powerful citizenry, reducing reliance on wages and welfare. Learn how this transformative proposal could grant you a second income and financial freedom through universal access to capital ownership.

News from the Network, Vol. 18, No. 29

 One of the ongoing problems with trying to report news items of the Just Third Way is that under the current administration the term “developing story” has ceased to have any real meaning.  Chaos, both political and economic, seems to be the order of the day.  We do have to wonder when the powers that be are going to wake up and adopt the Economic Democracy Act:

Why Economists Reject Binary Economics, I: Lack of Empirical Evidence

Just for fun the other day, we asked AI why mainstream economists reject Binary Economics, and it came up with nine reasons, some of which are not so good, and others which are terrible.  In this series we will look at the reasons and see if there are any responses, or if the reason is even valid.

JTW Podcast: Are Human Beings Angelic?

Today’s podcast is another appearance by “Great Books” philosopher Mortimer J. Adler on William F. Buckley’s Firing Line.  Again, we could summarize the video, but it’s better just to watch it yourself:

News from the Network, Vol. 18, No. 28

 We have sad news this week, the passing of one of the pioneer generation of the ESOP movement, Patricia Hetter Kelso.  As co-author with Louis Kelso, she helped present many of the ideas embodied in the Economic Democracy Act:

The Big Beautiful Boondoggle

 The trouble with even the biggest and most beautiful bill is that eventually you have to pay your bills, and the beauty of what you bought may have dimmed a bit by then.  We realize we’re committing a slight “fallacy of equivocation” by using a word meant in one sense in a different sense, but in this case it works.  We think.

JTW Podcast: Adler on Great Books, Religion, Literature and Education

Today’s podcast is another “long-lost treasure” from the legacy left by “Great Books” philosopher Mortimer J. Adler.  We would say more, but it would be better simply to watch or listen to the video:

News from the Network, Vol. 18, No. 27

The Big News this week is the Big Beautiful Bill . . . which as far as we can tell doesn’t do anything to get the Economic Democracy Act: adopted.  Other than that (and including that), here’s what’s been happening that affects the Just Third Way:

The Wedding of the Century

 Back in 1951 MGM released Royal Wedding, one of the movie musicals for which the studio was noted.  Famous for the scene that has Fred Astaire dancing on the walls and ceiling (done by having a rotating set and a fixed camera . . . with the cameraman strapped into his seat), the film — which is now in the public domain — was a riff on the marriage of then-Princess Elizabeth and Phillip Mountbatten in 1947.

JTW Podcast: Labor’s Great Mistake

 Today’s podcast is about “Labor's Great Mistake: The Economics of Full Employment and Wealth Production.”  In this writing, Kelso challenged the conventional belief that full employment is a societal ideal, arguing instead that true economic advancement comes through increased participation in production facilitated by capital ownership. He critiqued the Keynesian approach of pump-priming the economy to create jobs and illustrates the inefficiency and inherent issues in such policies.

News from the Network, Vol. 18, No. 26

 Some of this week’s news items might come across as a trifle surreal but we can assure you they are drawn from today’s headlines.  The stories are true.  None of the names have been changed because there are too few innocents to protect.  Of course, many of the non-innocents would lose their opportunities to inflict themselves on others if legislatures would adopt the Economic Democracy Act:

Muddling Through to Servility

 The election of Pope Leo XIV has aroused renewed interest in “Catholic” social teaching . . . which is not “Catholic,” but “catholic” with a small c, as it is based on the natural law common to every human being.  Unfortunately, there is a flaw in how these teachings have been presented.  This is not a flaw in the teachings, mind you, but in how they are applied, which is a mistake anybody, even a pope or president, can make.

JTW Podcast: Mortimer Adler and The Capitalist Manifesto

 Today’s podcast is the Preface to The Capitalist Manifesto: Revolutionizing Democracy and Economy by Mortimer J. Adler and Louis O. Kelso.

Mortimer J. Adler wrote this preface to The Capitalist Manifesto, co-authored with Louis Kelso. Adler disclaimed credit for the underlying capitalist theory, attributing it to Kelso's extensive research. He elucidated the inseparable link between political democracy and economic freedom and equality.

News from the Network, Vol. 18, No. 25

As usual, there is nothing new under the sun with the news affecting the effort to get legislators to adopt the Economic Democracy Act.  Still, the effort goes on.

Some Thoughts for the Present and Future

 Pope Leo XIV, the newly elected leader of the Catholic Church, faces many challenges in applying Catholic social doctrine to solving today’s problems such as the growing wealth, income and power gap in every nation; widespread poverty; destruction of the environment; conflict-driven immigration; growth of State power; the decay of families, and many others.

JTW Podcast: Why Are So Many Americans Poor?

 Today’s podcast delves into the causes of poverty in America, as examined by Louis O. Kelso and Patricia Hetter.  The discussion debunks common misconceptions about why people are poor, such as lack of education, laziness, or living in impoverished areas, and argues that the main reason is the lack of accumulated wealth and productive capital.

News from the Network, Vol. 18, No. 24

 This week’s news items are a replay of past weeks that suggest the only way to solve a lot of the problems affecting the economy is to adopt the Economic Democracy Act:

The Issue is Power

 Everyone needs power.  It’s essential if you want to take control of your own life and become virtuous, as Aristotle pointed out.  The problem is how to get it legitimately and how to use it to control your own life and not others.

JTW Podcast: The Who . . . What . . . Why

Today we present a very brief overview of the career of Louis Orth Kelso, the lawyer-economist and corporate attorney who developed the theory of binary economics.  This podcast, “The Revolutionary Ideas of Louis O. Kelso: ESOPs, CSOPs, and Binary Economics” dives into Kelso’s groundbreaking work which transformed economic theory with his invention of the Employee Stock Ownership Plan (ESOP) and Consumer Stock Ownership Plan (CSOP).

News from the Network, Vol. 18, No. 23

 Admittedly there is a depressing sameness about the news items these days, but with a little hard work and a lot of luck (or maybe the other way around) we might be able to change that in the coming weeks.  In any event, a lot of the chaos which has been spreading throughout the global economy would be dramatically lessened and perhaps even completely eliminated by adopting the Economic Democracy Act:

Saving or Investing for Retirement?

 According to a recent article in Fortune magazine, “Boomers” are being forced to “unretire” due to inadequate savings.  That’s bad, of course, but the real point of the article is a wonderful (wunderbar?) new proposal in Germany.  The idea is for the government to fund retirement accounts for children between age six and eighteen.  Cash would be deposited, and the interest would compound.  As described by Fortune,

JTW Podcast: The Thoughtful Rebel’s Guide to Economics

Today we present “The Thoughtful Rebel's Guide to Economics: A Lecture by Louis Kelso.”  This 1969 lecture delivered by Louis Orth Kelso at the College Editors’ Conference scrutinizes the inefficiencies and injustices of the world's economic institutions.  “Rebelling” against conventional economics, Kelso argued that the prevailing economic systems operate under several false assumptions, such as the belief that only labor produces wealth, and full employment should be the ultimate goal.

News from the Network, Vol. 18, No. 22

Admittedly, there is a depressing sameness in the news items this week and the previous weeks, but a lot of that is due to the extreme uncertainty of economic and monetary policy under political regimes existing in the world.  That being the case, we still present some of the more important or at least the least repetitive news items affecting the Just Third Way, many of which could be solved or at least ameliorated by adopting the Economic Democracy Act:

Fight Fiercely, Harvard

 Those of you who remember the very early songs by Tom Lehrer will be familiar with the gentlemanly fight song he wrote for his alma mater, Harvard.  If not, well you can listen to it here, if you are (or ah) really anxious to hear it.  That, however, is not the point of today’s posting.

JTW Podcast: What Louis Kelso Knew

Today we present “The Revolutionary Economic Insights of Louis Kelso.”  In this comprehensive exploration of Louis Kelso's economic thought, Patricia Hetter Kelso delves into the dichotomy between thinkers characterized as foxes and hedgehogs, referencing philosopher Isaiah Berlin’s taxonomy.

News from the Network, Vol. 18, No. 21

 Economic chaos continues to reign supreme.  This will continue to be the case until people realize that something different is possible and push for Congress to adopt the Economic Democracy Act:

The End of Private Equity Firms? No Way!

A few years back a member of the CESJ board of directors expressed concern over the Economic Democracy Act and the necessity of shifting new capital formation from past savings to future savings.  There was also the issue of phasing out governments monetizing deficits by emitting bills of credit (the constitutional form of “creating money” out of nothing).

JTW Podcast: Labor’s Great Mistake

The full title of this podcast is “Labor’s Great Mistake: Rethinking Full Employment in a Capitalist Society.”  In this video, we explore Louis O. Kelso's seminal 1960 article, “Labor's Great Mistake: The Struggle for the Toil State.”  In the face of the fixed belief human labor is the only true factor of production and thus a “job” is the only way to gain income, Kelso argues against the conventional wisdom that full employment is an ideal societal goal.

News from the Network, Vol. 18, No. 20

Although some of the experts seem to be acting as if everything is going to be fine, this week’s news items suggest disaster is in the offing and it’s only a matter of time.  We, of course, think that adopting the Economic Democracy Act: will go a long way to correcting the problem and providing a foundation for genuine sustainable growth:

Where is Pope Leo XIV Coming From?

The election of a new pope has repercussions far beyond the Catholic Church, Christianity, and even all religion.  Especially since the Catholic Church became a truly international organization with the loss of the Papal States in the 19^th century, people of goodwill everywhere look to the head of the Catholic Church as a voice for good, even if they do not always agree with what he says.

JTW Podcast: A Martyr to Economic Justice

Today’s podcast is more than a little different from what we’ve been presenting.  It is an original twelve-and-a-half-minute video about Blessed Pauline Jaricot, a nineteenth century “martyr” to economic justice.  Anticipating the work of Pope Leo XIII which the new pope, Leo XIV, has taken as his guide, Pauline struggled to achieve justice for the working classes of her day.

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

While the world situation seems to be getting more surreal by the hour, at least there may be a break coming with the election of a new pope . . . who might be open to hearing about the Economic Democracy Act:

Egocentrism, Tariffs, and the Single Tax, Part IV

Concluding our discussion of tariffs, as we noted previously there are three badly flawed economic principles which many people hold as absolute, unquestioned dogmas.  Two of these flawed principles are general, but applied specifically in the third, regarding tariffs, which we looked at last week.  The principles are:

JTW Podcast: The Case for 100% Dividend Payout

If there is one thing which upsets people enmeshed in the fallacy Louis O. Kelso called “the slavery of [past] savings, it’s the systemic necessity of full dividend payout if Say’s Law of Markets is to be restored.  In this article, Kelso recommended changes such as corporations paying out 100% of earnings as tax-deductible dividends.

Paying out all earnings would force corporations to compete in the market for new capital rather than retain earnings as reserves for expansion — concentrating ownership in fewer and fewer hands, distorting market equilibrium.

The audio-visual presentation was created in “Descript”, using an AI-generated voice for narration. Visit CESJ.org for more information.

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

With the political chaos being spread by the current administration in Washington, it is difficult to discern what principles are driving policy decisions — if any.  This makes the case for the adoption of the Economic Democracy Act even more urgent:

Egocentrism, Tariffs, and the Single Tax, Part III

As we noted in the first posting on this subject, there are three badly flawed economic principles which many people hold as absolute, unquestioned dogmas handed down from . . . well, it’s not entirely clear where they come from.  In any event, that’s not important when one’s own ego and self-interest are the only fixed points in the universe.

JTW Podcast: Binary Economics in a Nutshell

This article by Norman Kurland presents the basic components of what Louis Kelso called "Binary Economics", that the factors of production can be identified as either Labor or Capital.

News from the Network, Vol. 18, No. 17

As the economic and financial world descends deeper into utter chaos, it becomes increasingly difficult to select news items that even make sense.  Of course, we want to see the adoption of the Economic Democracy Act, but the question is when the powers-that-be will realize its wisdom:

Egocentrism, Tariffs, and the Single Tax, Part II

Last week we looked at how a distorted idea of one’s own importance can lead to treating anyone who opposes you as an enemy to be eliminated, and supporters as tools to be discarded once their utility is over.  This week we look at the implications of the Ricardian (as opposed to the Smithian) Labor Theory of Value.

JTW Podcast: Kelso Before the Citizens’ Crusade Against Poverty

Louis Kelso made this Statement before the Forum on Economic Policy and Poverty, Citizens' Crusade Against Poverty, 2nd Annual Meeting-April 13-14 1966.

News from the Network, Vol. 18, No. 16

As time goes on, it becomes increasingly difficult to find news items that can be understood as anything rational, whether we’re talking economics, politics, or war, which is the failure of politics.  Naturally, we believe the solution to all of this is to adopt the Economic Democracy Act, but the problem is to get the powers-that-be to realize it:

Egocentrism, Tariffs, and the Single Tax, Part I

Understanding certain of today’s trade policies, while difficult, even baffling at times, is nevertheless possible once one identifies some basic assumptions and ascertains a possible approach to life.  Although he didn’t write it, The Art of the Deal (1987) under President Trump’s name exemplifies an orientation which appears widespread today, as do some of his otherwise incomprehensible actions, possibly accounting for his popularity.

JTW Podcast: Questions on Kelso’s Second Income Plan

The full title of today’s podcast is “Questions Most Often Asked About Louis Kelso’s Second Income Plan,” a question-and-answer paper Kelso developed about his “Second Income Plan” back in the 1960s.

News from the Network, Vol. 18, No. 15

 As they say in the journalism biz, no news is good news . . . and none of the news items we have this week are good, and not even all that new.  It has become a depressing and endless round of trying to figure out what a certain U.S. president has done and what he is going to do next and then reverse himself completely before he throws his next ally under the bus so fast you can hear the bones crunch and then goes back to whatever he was doing in the first place.  Or second.  Would you believe third?  Why doesn’t Congress adopt the Economic Democracy Act so the rest of us can get back to real life and the rich and powerful can perform their antics for our entertainment instead of to our detriment:

Dignity, Sovereignty, Faith, and Reason

In today’s posting, we’re taking a look at some basic principles of the Just Third Way of Economic Personalism.  As we understand it, the Just Third Way begins and ends with the dignity and sovereignty of the human person. Any plan, program, activity, or thought contrary to or which undermines the dignity or sovereignty of the human person must be rejected or reformed to the point where it either enhances human dignity or at least does no material harm.

JTW Podcast: Uprooting World Poverty: A Job for Business

Today’s podcast is an essay by Louis Kelso and Patricia Hetter Kelso in which the Kelsos conclude that reimagining capital finance—not charity—can break poverty cycles while preserving democratic ideals. Their plan leverages market tools to broaden ownership, arguing that “industrial power to produce” must align with “economic power to consume” for sustainable development. The authors propose financing industrialization via future savings instead of past capital accumulation.

News from the Network, Vol. 18, No. 14

On July 27, 1923, during the chaos at the height of the German hyperinflation, Germania, a large Berlin newspaper, editorialized, “It is a situation for a dictator.  The conditions call for a Mussolini in bullet-proof armor with a revolver in either hand.”  Unfortunately, that’s exactly what they got, only worse.  Not that we’re saying the rise of a new Hitler is inevitable . . . if people can organize and demand the adoption of the Economic Democracy Act as soon as possible.  Otherwise, we can expect more of this sort of thing:

Personalism and Justice

Recently we got an enquiry regarding a misunderstanding about our use of the term “Economic Personalism” and some potential confusion with the virtue of justice.  Someone (Person A) had expressed disagreement with our using the term Economic Personalism to describe a type of economic democracy and then asked if we were trying to change the name of the Center for Economic and Social Justice to the Center for Economic Personalism.  Quick answer: No.