Because it Works…

I have been busy lately both professionally and personally, but I plan to continue posting my reviews of Hart’s book and should have the next chapter up soon.

In the interim, I came across this recently and thought it of some interest. We’ve come to a moment in time (actually we’ve been here for a long time), where the height of wisdom, the almost airy and thoughtlessly tossed out justification, in the area of economics, has become “because it works…” And we are supposed to shake our heads in agreement, bedazzled now by the blinding simplicity of such a justification, and walk off as if with a pat on the head all of our questions had now been answered. Such is our time in the entire area of economics in the West.

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1 Response to Because it Works…

  1. Burk Braun says:

    It is somewhat ironic how the poster, apparently a Texas real estate agent and theologian, enacts precisely what he criticizes- the lack of substance in one’s economics. Wiping away all the blather, one could make the case the the current system embodies the distributist ideal quite extensively, since ownership, in the form of stocks, bonds, and CDS’s, REIT’s, etc, has become so very widely distributed.

    And what has that gotten us? The diffusion of ownership, especially that of investment banks going public, and the securitized distribution of real estate loans, has led to a mismatch of incentives (short-term gain for sellers, long-term losses for buyers) and a dispersion, not to say complete breakdown, of responsibility for critical economic valuation and management.

    Now, I would not say that widely distributed markets and diffused capitalism are necessarily a bad thing, but insofar as < HREF="http://en.wikipedia.org/wiki/Distributism" REL="nofollow">distributists<> have a beef with it, they have to clarify what exactly they would change, since large parts of it are not so far from their ideal. The relation of the state with the economy begins the minute we claim deed to property- economics depends absolutely on the state from the very start, so their ongoing relationship should hardly be a surprise.

    One last question is- since the animating impulse of distributism appears to be dislike of the state and of all large institutions, would it not follow that the Vatican should be abolished in favor of a more distributed theological small-tenancy, so to speak?

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