Happy Labor Day

We must first of all recall a principle that has always been taught by the Church: the principle of the priority of labor over capital. This principle directly concerns the process of production: in this process labor is always a primary efficient cause, while capital, the whole collection of means of production, remains a mere [Read More...]

Brian Moynihan and Empress Eudoxia

Where does Brian Moynihan go to church? And how is it that he still feels comfortable there? Moynihan, the CEO of Bank of America, “plans to cut at least 3,500 jobs in the upcoming months, with the possibility that thousands of additional positions could also be eliminated.” In a memo to the bank’s senior management [Read More...]

Don't lay off 120,000 postal workers in the middle of a jobs crisis

First, do no harm. I appreciate that the U.S. Postal Service is facing a world of reduced revenue due to the Internet. But right now, in the middle of a yearslong jobs emergency, is not the time for talk of layoffs. Until the jobs crisis is resolved — i.e., for the foreseeable future — the [Read More...]

Unlike conservatives, I'm in favor of economic growth

A handful of items worth repeating, and worth following the links to read in full: Nobel laureate Peter Diamond: Infrastructure spending is not a vehicle for dealing with a normal recession. But once you recognize this recovery will be slow, you realize this is a time when we should be doing major spending on infrastructure. [Read More...]

The greatest degeneration

I’m a big fan of these homefront propaganda posters produced by the U.S. government during World War II. There’s a peppy, can-do spirit about them. The posters convey what folks back then might have called “moxie.” And they presumed that the people reading them would share that spirit. The assumption was that Americans were full [Read More...]

Player's Union: The Movie

After sharing my pipe-dream plea for the professional athletes’ unions to show more solidarity with other, less elite, workers in other unions (see: “Workers of the world unite“), I got quite a few responses pointing out the many real and daunting reasons it’s not likely to ever be more than a pipe-dream. I really do [Read More...]

Jobs. Jobs. Jobs. And, also, Jobs.

Joe Gagnon points out that the Obama Administration and the Federal Reserve have plenty of tools available to boost hiring and generate growth — tools that could not be held hostage by the Teaocrats in the House of Representatives: Many actions that would be helpful — extension and enlargement of the payroll tax cut, extension [Read More...]

A prayer for infrastructure investment

From The Atlantic: “Another Dust Bowl?” After a spring filled with reports of devastating floods and tornadoes, another climatological disaster is taking shape. Fourteen states across the south, particularly Texas, are facing a lethal combination of record heat and low precipitation.  The Office of the Texas State Climatologist reports that this past June was the [Read More...]