The Just Third Way

A Blog of the Global Justice Movement

Monday, September 26, 2016

Let Freedom Ring: Principle and Application

One thing we’ve noticed (i.e., had driven home to us like a railroad spike through the skull) is that quite a large number of people are confused about the difference between a general principle, and a particular application of that same principle.  Yet all the sciences, moral philosophy, and even theology are based in some measure on this distinction.
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Friday, September 23, 2016

News from the Network, Vol. 9, No. 36

A number of important irons are in the fire as CESJ approaches the end of its fiscal year (September 30).  A lot of time is taken up with that, of course, but things are also moving forward:
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Thursday, September 22, 2016

Where’s the Recovery?

On the Opinion page in yesterday’s Wall Street Journal, the title, “The Reasons Behind the Obama Non-Recovery” (p. A13) caught our eye.  The argument by a Harvard professor of economics was that because recovery from all past depressions/recessions has always been relatively rapid, President Obama is responsible for a slow recovery because he increased non-productive government spending that made the rich richer, instead of figuring out ways to make business more profitable to make the rich richer.
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Wednesday, September 21, 2016

Religion and the Rise of Capitalism . . . and Socialism

From the point of view of organized religion, the situation in the first half of the nineteenth century was a virtual shambles.  There was a perceived conflict between reason and faith.  The Will (opinion) had replaced the Intellect (knowledge) as the basis for discerning the natural law — the general code of human behavior.
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Tuesday, September 20, 2016

And Another Distributist Question!(!): Distributism

To continue our little discussion from yesterday. . . .
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Monday, September 19, 2016

And Another Distributist Question!(!): Catholic Social Thought

They do seem to keep coming, don’t they?  The questions from distributists, that is.  We’d prefer if they were accompanied by checks with large numbers of zeros to the right of the other digits, but we’ll take what we can get.  Anyway, we just got this question:
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Friday, September 16, 2016

News from the Network, Vol. 9, No. 35

As the world’s central bankers try to figure out what a central bank is supposed to do, and the commercial and mercantile banks follow suit, the stock market continues its wild gyrations.  We believe that this will continue (if it doesn’t crash and burn) until a Capital Homestead Act is passed and the stock market can return to its proper role as a Second-Hand Shoppe for used debt and equity.  To help a CHA along, here’s what we’ve been doing for the past week:
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Thursday, September 15, 2016

Another Taxing Question, IV: The Terror of Taxation

Quite a large number of people would tend to agree that the United States should get rid of the Federal Reserve System and the income tax.  We agree with that goal . . . if to “get rid of” is broadly interpreted as getting rid of the incompatible functions that have been added to these essential if exasperating social tools.
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Wednesday, September 14, 2016

Introduction to Keynesian Wreckonomics: Say’s Law

Last week we mentioned Adam Smith and the possibility that the political-economist-you-love-to-hate might have gotten a bum rap for the past couple hundred years or so.
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Tuesday, September 13, 2016

Distributism, Socialism, and Syndicalism, What’s the Difference?

We’ve mentioned a number of times before on this blog that we like it when people ask questions that are easy to answer.  It makes us look smart, and it doesn’t take too much work to put a posting together.  That’s why we were so delighted last week to get the following question: “I just came across the word ‘syndicalism’.  It sounds very much like distributism.  How do they differ?”
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Monday, September 12, 2016

More Malthusian Madness: Scarcity

Last week we mentioned the Thomas Malthus in a posting or two in connection with the reverend sir’s lamentable effect on economics — he is, after all, credited with getting it labeled “the dismal science.”  Our comments last week, however, had to do with Malthus’s rejection of Say’s Law of Markets, which brought forth Jean-Baptiste Say’s best explanation of the “law” that bears his name . . . and that many people reject flat out without knowing anything about it.
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Friday, September 9, 2016

News from the Network, Vol. 9, No. 34

As of this writing, the Dow is down over two-hundred points, probably due to the various noises about the possibility of the Federal Reserve raising rates, making it more expensive to create money to pour into the stock market.  The possibility of eliminating “interest” altogether for any money that creates new owners of capital instead of to make the rich richer doesn’t seem to have occurred to any of the powers-that-be.
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Thursday, September 8, 2016

Distributism and Population Growth, III: Mean Ol’ Adam Smith

Distributists almost always have one political economist they detest more than all the rest . . . which is saying a lot.  That is that Mean Ol’ Adam Smith, whose “invisible hand” argument has sometimes been characterized as attempting to substitute for the Hand of God.
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Wednesday, September 7, 2016

Why Did the U.S. Go Off the Gold Standard in 1933?

The other day we took a poke . . . or maybe that was a peek . . . at what people mean when they say “gold standard.”  Today we look at why the U.S. abandoned the gold standard in 1933.  It might surprise you.
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