A 20th century wag topped off a famous line from Kipling this way: “If you can keep your head when all about you are losing theirs . . . maybe you just don’t understand the gravity of the situation.”
President Obama promised that he would use science to save the planet from climate change and now he has delivered. His Environmental Protection Agency has reinterpreted a 1970 law section, whose proposed revision was defeated by the Democratic Senate in 2010, into a 645 page rule forcing states to reduce overall carbon emissions in their thousands of fossil fuels power plants 30% by the year 2030, one state by 72%. Obama claims the cost per year will only be $8.8 billion but the U.S. Chamber of Commerce estimates $50 billion because the government assumes alternatives can somehow be found at cheaper costs than technology can produce today.
Scores of textbooks attest that John Locke is the most important intellectual influence on America’s Founding. No other first-tier philosopher can provide a moral and theoretical justification for the United States, its traditional culture, and its form of government. Even the skeptics who question Locke being the only influence concede he was the most significant. The practical problem is that modern experts are confused about what Locke actually thought.
In her first formal appearance as head of the United States Federal Reserve, Janet Yellen obliquely suggested the Fed might not raise its mighty “federal funds” rate to tighten the economy until months after its Quantitative Easing bond purchasing ended completely, coyly portending cheap money indefinitely. The market shuddered but soon calmed at the soothing voice of its controller.
What is wrong with America? It does not seem to work anymore. Low employment, static wages, burdened business, persistent poverty, destructive lifestyles, exploding debt, threatened entitlement bankruptcy, and stagnation generally seem to be its future, following the path to decline set by Old Europe the century before.
It may seem peculiar that a peace treaty signed in 1648 might hold the answer.
The American Enterprise Institute’s Arthur Brooks is probably the most captivating American intellectual leader today on the right. He wows conservative audiences and even elicited a kind word about capitalism from the Dalai Lama, who considers himself a Marxist!
In an excellent article for Commentary magazine, with the Biblical title “Be Open-handed Toward Your Brothers,” Brooks asks about the status of the U.S. five years into the progressive rule of Barack Obama and his promises to lift up the poor, end inequality, and make the rich pay for it.
Friedrich Hayek once noted that “A successful free society will always in large measure be a tradition-bound society.” In pursuit of Hayek's wisdom, this podcast with Donald Devine, author of America's Way Back: Reclaiming Freedom, Tradition, and the Constitution focuses on his attempt to revive fusionism by harmonizing freedom and tradition in the manner once proposed by Frank Meyer. While conservatives and libertarians have long been fractured, Meyer attempted in a series of essays almost fifty years ago to find the principles that would unite them. He observed that individual freedom emerges from the religious and moral heritage of the West.…
So President Barack Obama and the Democratic Congressional leadership are going to end inequality? A half century after President Lyndon Johnson’s attempt to eliminate poverty, progressives aim higher. While cynics may think the real goal is changing the subject from Obamacare, most progressives actually have kept the faith. Eliminating inequality guarantees the moral high ground, especially with a supportive media who also desperately want to believe and who will faithfully transmit whatever theme their political allies send their way.
What would you think of capitalism if you were born in a country that had developed a market economy by the dawn of the 20th Century and was ranked among the ten wealthiest nations per capita in the world—but one hundred years later had dropped to seventieth with little of that wealth having trickled down to the poorest in society? Such was Pope Francis’ experience with capitalism in Argentina and his pastoral letter Evangelii Gaudium cannot be understood without it. We all begin with our culture and his would discourage anyone, especially someone so moved by concern for the poor.
It is impossible to exaggerate the enigma within the term “capitalism.” It is in fact one of those big concepts concocted by its enemies, indeed by its chief antagonist Karl Marx. To this very day its central concepts of market and “trickle down” are questioned from the American president to the pope. Even its supporters cannot agree on what it is or even when it began.