Episodes
Monday Jan 11, 2021
Episode 117 - Aida Ramos on Debt and Spending
Monday Jan 11, 2021
Monday Jan 11, 2021
- Aida Ramos, Ph.D., is an associate professor of economics at the University of Dallas. She returns to TSSM, in this episode recorded early in the week of January 4, 2021, to discuss Catholic perspectives on United States policy efforts to stimulate the economy.
- During the discussion, Bill recalled a class he took at the Princeton School of Public and International Affairs that outlined a rigorous process of federal budget management. It included multiple annual authorization and appropriations bills covering various agencies and governmental functions. He could not remember immediately the name or previous budget-leadership role of his professor from those years as a student, but he commented in general that, over time, the discipline planned for maintaining quality control over program specifics via this legislative routine gave way to habits of less regular and detailed Congressional oversight on specifics of spending.
- Ramos noted that the Citizens United case decided by the US Supreme Court in 2010 had a major effect on campaign finance which in turn greatly increased the influence of corporate lobbyists over Congressional decision-making and thereby contributed to changes in legislative practices regarding federal budget management. The multi-trillion-dollar spending bill passed by Congress in late 2020 offers examples of how management rigors, at least as they maintain a focus on common-good and fiscal-responsibility duties, changed in ways that lessened Congressional and White House priorities integrating social justice into year-end spending plans; concerns about the primacy of addressing broad, basic needs of the population, as described by goals of solidarity and subsidiarity in Catholic social thought, have not been served by enactment of policies like tax deductions for the so-called “three-martini lunch.” That policy, which economists judged to be primarily a benefit for the wealthy, favors spending practices seen in corporate and lobbying circles, Ramos said.
- The need for responsible approaches to economic management within government is an area of profound moral concern that has arisen consistently present and past policy-making. Different policy actions, including the Covid-19 relief legislation, which is separate from the aforementioned multi-agency spending bill, represent differing approaches to deficit spending in the federal budget. Deficit spending can be justified during an economic crisis if it is limited and focused fairly on necessary remedies and investments. But the US has run up deficits in various years when they were not necessary, and the national debt has exploded. The need to pay interest on the national debt to investors squeezes out spending that could go toward meeting urgent needs such as food and poverty relief in the general population. This again raises concerns through the lens of Catholic values about human dignity and the preferential option for the poor.
- The major tax cut passed during the Trump administration had components that added hugely, unnecessarily, and unfairly to the deficit, Prof. Ramos said. A morally informed discussion about taxation has to be conducted among Americans to help influence government decision-making in legislation like this.
- An absence of responsive and responsible fiscal policy, legislated by Congress, has required more action by the Federal Reserve in recent years, taking the form of quantitative easing. This is monetary policy, whose technicalities can stir misguided fears among people. One bottom line in the different forms of policy-making is the need to serve the common good and human dignity; actions which support the economic stability and participation of families and households at the local level are an example of the Catholic call to respect subsidiarity as a means toward solidarity, Prof. Ramos said.
- Pope Francis has been outspoken about the need for populations to respect Catholic social values like these in policies and relationships widely and consistently. Certain budgetary responses to Covid-19 relief for people are in keeping with the Pope’s call. The application of a moral lens to budget management that meets public needs is nothing new; indeed, the field of political economy arose out of moral philosophy, a connection personified by Adam Smith, according to Prof. Ramos.
Monday Dec 14, 2020
Episode 115 - Aida Ramos: How the Big Picture Sheds Light on Economics
Monday Dec 14, 2020
Monday Dec 14, 2020
- Our guest, economics professor Dr. Aida Ramos, returned for further conversation after Episode 114. She pointed to wisdom in papal encyclicals from the past that we still need to tap into today—for the sake of just and reasonable arrangements in society and the economy. The granddaddy of these encyclicals is Rerum Novarum, from Pope Leo XIII in 1891. Forty years later, Pope Pius XI issued Quadragesimo Anno.
- Words are important, we noted in our discussion. The root for the word subsidiarity, which is a key concept in Catholic Social Thought, comes from the Latin for assistance or help. The origins of the word economics trace back to the management of a household, which incorporated a sense of stewardship, seeking the good for all persons connected with a household.
- Ramos pointed out that the appeal of Catholic Social Thought is by no means limited to Catholics or the Church. This wisdom is compatible with a broader legacy of insights deep in the Western intellectual tradition. She discussed economic insights embodied in the Acts of Union of 1707 in Great Britain, as described in her book, Shifting Capital.
- Historical figures who helped to shape ideas of economic justice through their expertise and their advocacy regarding the Acts of Union included Sir James Stewart. Dr. Ramos also mentioned Adam Smith, the 18th century economist and moral philosopher whose book The Wealth of Nations argues for the wisdom of free market capitalism. Henry George, a 19th century economist, also contributed to the secular intellectual trends which ran counter to the individual-utility principles of today’s neoclassical economics.
- Echoes of the notions more inclined toward common-good thinking are expected to receive attention in a new introductory economics textbook now being written by development economist Jeffrey Sachs. This will integrate concepts of subsidiarity and common-good motivation, which have a long history in secular discussion and are outlined cogently in Catholic Social Thought.
Monday Nov 23, 2020
Episode 114 - Aida Ramos and A Church Where Economics Counts—For People
Monday Nov 23, 2020
Monday Nov 23, 2020
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Paul and Bill spoke with Aida Ramos, Ph.D., an associate professor of economics at the University of Dallas. Prof. Ramos’ research and teaching at that private Catholic university include topics in economic development and Catholic Social Thought and their implications for public policy. She is the author of a book (Shifting Capital: Mercantilism and the Economics of the Act of Union of 1707 ) in the “Palgrave Studies in the History of Economic Thought” series.
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The Vatican’s first direct foray into issues of justice in economics and the relationship of capital and labor came from Pope Leo XIII in 1891 in his encyclical Rerum Novarum. Pope Pius XI added to the Church’s economic analysis 40 years later in the encyclical Quadragesima Anno; it focuses on the different systems of economic organization. The Vatican has spoken out about economic organization and justice in various additional ways over the years, including such encyclicals as Saint Pope John Paul II’s Centesimus Annus. In general, both capitalism and socialism have received mixed reviews in terms of their virtues and problems.
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At the core of economic decision-making—discernment about the systems from which we choose and how we implement them—is the balancing of rights and responsibilities. The Church strongly proclaims a variety of economic rights held by human persons. It also insists that humans and corporations go beyond a limited notion of responsibility focused only on maximization of income and wealth. The Church asks, what is the economy for? What is my duty to God and other human beings as it is to be exercised through human economic behavior?
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The universal destination of goods is a Catholic principle that the reason the economy exists is for the good of all human persons. The preferential option for the poor is a principle which states: If any action makes the poor worse off, do not pursue it. The Church also teaches that we all have a responsibility to uphold the common good. The Catechism of the Catholic Church says, the totality of social and economic conditions is intended for human beings to achieve fulfillment and authentic happiness.
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Pope Franics’ new encyclical, Fratelli Tutti, reminds the faithful to pursue fraternal relationships of compassion and love with people all over the world, which helps the human ecology to reflect and build the common good. This taps into principles of Catholic Social Teaching including solidarity and respect for the dignity of each unique individual created by God. This global consciousness coexists with a local consciousness guided by the principle of subsidiarity—which instructs that people at the level of smaller communities should have responsibility and authority to address all issues they can address, free of intervention by higher authorities unless those greater resources must be called upon.
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Catholic Social Thought, or Catholic Social Teaching, has been called the Church’s best-kept secret, partly because its principles are prospective meeting grounds for broader public consensus; they are drawn from the Gospel and Church wisdom through the ages, but they have rarely been proclaimed as a package to be consistently understood, discussed and applied in unison.
Monday Nov 09, 2020
Episode 113 - US Election 2020
Monday Nov 09, 2020
Monday Nov 09, 2020
Your TSSM coverage of the 2020 US election with the unique perspective Bill and Paul provide. Be sure to let us know your ideas for the presidential hopeful cage match reality show that we clearly need to augment or replace the primary election system here in the 21st century... hit us up with your proposed names and formats using the links to the right. As always, God bless America (all of it, not just the US...).
Wednesday Oct 28, 2020
Episode 112 – A Happy Medium: By What Means?
Wednesday Oct 28, 2020
Wednesday Oct 28, 2020
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Paul and Bill focused on the 2020 elections as a point of tragically little focus in discourse or reasoning—but a good starting point for wide-ranging conversation about humanity’s desperate search for balance, hope, and sustainability in our hearts and minds. The desire for a higher wisdom—a happy medium, a golden mean—has always been complicated by our focus on ourselves and our temptation to believe that we know best, the co-hosts pointed out. Bill pointed out that “fake news” was said to have made its first appearance in the Garden of Eden, courtesy of the serpent; that comment was made by Pope Francis in his 2018 reflections for World Communications Day.
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Society is operating in a state of radical uncertainty and unsustainable indebtedness among persons, but we forget the stabilizing recognition that we share an indebtedness to God—a responsibility to Him as our source and our only reliable resource. We have forgotten a lot about this, leaving us not only lost, but facing a steep price to pay as God’s children, Paul said. He referred to the story of King Josiah’ realization that he and his people had strayed from the laws of the Torah.
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People seeking personal goodness and the common good know we have made serious mistakes on our journeys and have perpetuated ignorance and poor judgment. Each successive generation has been left unprepared and unable to make difficult decisions that would point toward healing. Bill recalled G. K. Chesterton’s call for a nation’s responsibility to wisdom that whatever wisdom was being handed down via what he called “the democracy of the dead.”
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But such respect for tradition is not one of humanity’s strong points. Paul pointed out that our podcast’s name points to a second millennium whose second half was marked by major departures from tradition for the sake of greater human creativity. The co-hosts discussed how any attainment of a golden mean has been lost in the pursuit of collaborative innovation—even though we fail to hone our ideas as humble learners and listeners. Meanwhile, any instinct to hold fast to the tried and true only traps us in cocoons of misguided, comfortable assumptions. The artificial “communities” we belong to through our digital culture are places not of roots which allow us to grow, but of simplified labels which mimic understanding, Bill said. He was drawing upon concerns about internet trends voiced by Pope Francis in his 2019 message for World Communications Day.
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Our political system does not encourage any sustained, constructive dialogue between the old and the new or between fresh, authentic perspectives. Paul pointed out that we are not presented with real choices despite the fact that parties and partisans paint themselves as sharply different. And Bill pointed out that one are of common ground so many leaders share is the use of pessimism and fear. He recalled the presidential campaigns where candidate Biden spoke of a dark winter ahead and candidate Trump portrayed himself as the alternative to anarchy and economic despair.
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When an incomplete knowledge of history leads to despair about the past and present of a society, it can seem like the structures undergirding that society are held up more by mass psychology than real accomplishments or aspirations, the co-hosts said. Our culture likes to exalt creativity in principle, but have we made it easier to see connectivity and possibilities, Paul asks. Bill, proving his fascination with papal teachings for World Communications Day, would point out that the 2020 message of Pope Francis highlights our need to pass along hopeful stories from generation to generation that begin with our dynamic, hopeful relationships with God. Paul reflected on how our childhoods do not always prepare us for the kinds of pursuits entailed in the career pursuits and panoramic interests of adulthood. In a world of limited, utilitarian perspectives, it is hard to find happy wanderers with big ideas looking for life’s happy mediums.
Tuesday Sep 29, 2020
Episode 110 - To Solve Big Problems: Let’s Get Small!
Tuesday Sep 29, 2020
Tuesday Sep 29, 2020
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In this episode, Paul and Bill are back together for a conversation that catches up on past episodes which pondered big problems in science, government, the economy, personal well-being, and more. The pondering focused on solutions as matters of step-by-step processes, but as our conversation starts, we’re feeling a bit overwhelmed by the enormity of the problems, their quantity and complexity. Society relies more and more on government, which has proven it does not perform long-term planning very well. And it doesn’t really have the needed resources and insights it claims to have.
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Ultimately, the solutions are at the individual level and in communities and communion. Paul recommends Chesterton’s biography of St. Thomas Aquinas. The Church does have amazing resources for building up faith and hope in ourselves and others—with insights at the local and global level. Of course, the Church too is in a vulnerable and broken position in its circumstances as a human institution. Paul and Bill wonder how the Church can exercise influence in the nature of evangelization and civic duty at a time when the world needs better problem-solving that respects but transcends our various individual differences and weaknesses. Collectively, intellectuals are a tiny minority, and God must love rednecks (literally with red necks) because these are the working people. Here’s an inspiring story about rednecks. We must aim to do much of our work, with God’s help, in small steps and initiatives that growing corporations and growing empires of power will consider small and off-the-radar. The reference to “Let’s Get Small” looks to Steve Martin and an old “Saturday Night Live” performance in which he left a message that stuck with Bill.
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A big part of the answer is Catholic Social Teaching. These principles can give us approaches and motivation and starting points for conversations about a sense of purpose to unite us. Again, it entails humility, not pontification, because at the individual level we need to act in our families and communities to get involved in bringing these principles to life—perhaps by going into politics, or getting involved in a civic organization, or simply accepting responsibility to assist some kind of repair work on one of society’s obvious wounds. This may involve joining groups, like the Knights of Columbus, to fight for many causes including racial justice. If we join the Democratic Party, our role would be to push for reform and renewal—but then again, the Lord would require us to do the same thing in the Republican Party.
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Hilaire Belloc said the defining feature of the self-proclaimed “practical man” is his inability to reason back to first principles or forward to final consequences. Our politics are likewise defined by politicians thrashing about myopically trying to win individual elections. We need to provide our own grass-roots strength for each other, through solidarity, that gives us confidence to approach the public square with the particular abilities we may have to help. Often, this participation is best done at the local level, through family and community and small groups where we can make a distance and experience people’s needs, strengths, and dignity. This is the principle of subsidiarity.
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Overall, the solutions and principles point us toward small, not huge solutions. Paul and Bill have talked in the past about how the fields of science and government, for instance, are hobbled in handing us solutions because there is little capacity for long-term planning or even long-term thinking at those grander scales. Many gaps appear in such an entrepreneurial macro-setting: Why did we fail to plan for this or that? Why did we not see this coming? We must be thinking small but thinking big. This is the economy of God and a strength of the Catholic Church, whose purview is local and global, individualistic and cosmic.
Monday Sep 14, 2020
Episode 109 - Psychology & Spirituality of Crisis
Monday Sep 14, 2020
Monday Sep 14, 2020
A solo episode from Paul. These are the notes I used... the audio is balanced differently.
Insight by Bernard Lonergan and 20/20 hindsight.
What else (besides the coronavirus and similar epidemics) are we not preparing for? Can we? We can't know all the unknowns, and it is somewhere between difficult and impossible to quantify the risks even for the things we can anticipate. Yet quantification is reasonable and laudable because individual lives do matter... the 1,000,001st victim of a tragedy just as much as the first.
Problem areas:
Education and the bureaucratic / engineering mentality "we already know everything we need to make a decision" and "let's do something to make it look like we're doing something."
Finance and the herd mentality. Bullwhip chains of overreaction in the face of unknown risks. A reacts semi-rationally to the situation, B overreacts to A's reaction, C overreacts to B, etc. Federal forgiveness, however good in itself, has the side effect of blinding banks to their own internal information channels regarding default rates, etc. Banks are looking around at employment figures and other data, guessing what to do, overreacting, looking at their peers and emulating the most extreme.
There are a lot of really tired people working in logistics right now.
Job seekers giving up due to pessimism and the difficulty in thinking statistically. It's hard for me to go ahead and spend the effort to do something when I know its individual success rate is well under 50%. Now things are worse. All that means is that more repetitions will be needed to achieve success. However, it is easy to fall into the fallacy of "it was hard before but worth trying; now it's harder and therefore not worth trying," making an all-or-nothing qualitative proposition out of something that in its nature is gradational and quantitative.
Hope really is a virtue.
Audio editing by Morgan Burkart.
Monday Aug 10, 2020
Episode 107 - Dick Garrett on Kids, Schools, and Teachers
Monday Aug 10, 2020
Monday Aug 10, 2020
This is part 2 of our interview with Richard Garrett, author of The Kids Are Smart Enough, So What’s the Problem?
Find an overview of his distinguished career in this story about Dick’s zeal for researching and promoting education reform. (The story was written for Purdue’s College of Engineering by Bill last year.)
Dick’s book traces his growing concerns about problems in public elementary education. Those concerns led to extensive research from a business executive’s perspective, applying systems analysis skills from his background in engineering. Our interview probed not only the findings from that research, but even more current knowledge of education reform efforts which Dick continues to harvest and share. He has created an online gallery of videos for the general public, explicating what he has learned about educational-outcome statistics and various efforts to improve the outcomes. The videos are part of his “Elevate Teachers” website, which champions robust investments to help both teachers and students succeed.
Monday Jul 13, 2020
Episode 105 – Dick Garrett: The Kids Are Smart Enough
Monday Jul 13, 2020
Monday Jul 13, 2020
- Paul and Bill welcomed Dick Garrett to our podcast. Find an overview of his distinguished career in this story about Dick’s zeal for researching and promoting education reform. (The story was written for Purdue’s College of Engineering by Bill last year.)
- Dick’s book, The Kids Are Smart Enough, So What’s the Problem?, traces his growing concerns about problems in public elementary education. Those concerns led to extensive research from a business executive’s perspective, applying systems analysis skills from his background in engineering. Our interview probed not only the findings from that research, but even more current knowledge of education reform efforts which Dick continues to harvest and share. He has created an online gallery of videos for the general public, explicating what he has learned about educational-outcome statistics and various efforts to improve the outcomes. The videos are part of his “Elevate Teachers” website, which champions robust investments to help both teachers and students succeed. .
- Observed as systems established to give students the knowledge and skills they need, elementary schools face a number of challenges, Dick said. They include segments of young people whose daily classroom behavior is a major burden, requiring teachers to pull away from educating in order to focus on discipline during sizable portions of the school day. He says the lack of self-discipline stems from parenting experiences and other factors tied to low-income community conditions.
- Students exhibit the combination of discipline problems and poor academic achievement not because of low intelligence—there is no doubt that they are smart enough to perform well—but because educational systems don’t appropriately respond to gaps in their non-cognitive abilities, according to Dick. He says schools must get better at forming general traits he summarizes as character and grit. His book presents examples of educational approaches that have aimed to enhance those traits, making classroom success more likely for all students and teachers.
- Where that success is lacking, schools fall behind in graduating students with key competitive metrics—especially a grasp of reading and math skills. This shows up in poor rankings for United States schools in statistics tallied by the Program for International Student Assessment, the US Department of Education’s National Assessment of Educational Progress, and other oversight mechanisms.
- A 2004 Public Agenda survey found that 85 percent of teachers felt new teachers were particularly unprepared to deal with disciplinary problems in their classrooms.
- A recent study by the Kirwan Commission yielded a comprehensive report on problems and prospective solutions in elementary education, and this became the basis of a legislative action plan for Maryland schools. The state government acted in early 2020 to approve funding for preliminary implementation of a major initiative based on Kirwan Report recommendations. Dick said one part of the plan envisions hiring 15,000 teachers. A major thrust of the plan is improved education of low-income children, including a cadre of teachers for smaller class sizes.
- One of Dick’s aspirations is to help in spreading the word about the Kirwan recommendations so that educational and governmental leaders elsewhere, such as his home states of Wisconsin and Indiana, will consider and implement similar proposals.
Episode 107 of “That’s So Second Millennium” next month will include part two of the interview with Dick Garrett. If you find the audio quality for this episode a little lacking, don't blame Morgan... she's on vacation this week. It's all Paul's fault (as usual).
Monday Mar 30, 2020
Monday Mar 30, 2020
In this episode, Bill and Paul discuss the coronavirus, economics and risk, and the L'Aquila earthquake trial.
- Paul and Bill continued a discussion that began in the previous episode. They allowed the sense of gravitas they felt in the face of the COVID-19 pandemic to push them along a path through many uncertainties—where it’s tempting to rely on one’s GPS guidance system and, if possible, an autonomous (self-driving) vehicle. But should human beings relieve themselves of all responsibilities for self-guidance, and if not, how should they accept and address those responsibilities?
- Underlying this discussion was the perception that society has chosen to confront the pandemic through the wisdom of science, which boils down to a healthy use of reason, which of course is a God-given gift. But we are also blessed (and cursed?) with the gift of sensing that reason is not enough. Can we put ourselves on automatic pilot by trusting completely in calculations of risk and probability and a in human understanding that can’t take all possible values and outcomes into consideration?
- Paul cited observations by Hilaire Belloc, a great British writer and Catholic commentator from the early 1900s. Belloc argued that being “practical” and “realistic” is not enough, especially if a human being seeks to make decisions with Godlike precision, effectiveness, and comprehensiveness. For example, Paul pointed out that “social distancing” and related policy weapons being utilized against the spread of the Coronavirus are not enough to say that we are systematically reducing the risk of death or harm in an easily calculable way. For example, forbidding public gatherings of any significant size can be seen as a wise precaution against certain people becoming infected, but little thought is given to the fact that all the cancelled meetings of twelve-step programs means people who were being helped to address their own particular issues and risks might suffer tangibly from losing their support network.
- At some point, there is a need to acknowledge that some risks, like human death, cannot be eliminated, and a perfect society cannot be achieved. This meshed with Bill’s concern about whether “social distancing” might push man people further toward the phenomenon of social polarization, characterized by isolation, indifference and marginalization in many instances. Or will the experience of being distanced wake us up to the unhealthy results of these characteristics and rein us back from the precipice of thinking we can define and enforce the right answers that will yield the best outcomes?
- Ultimately, Bill and Paul agreed that humans seeking to provide humane, prudent leadership in a crisis must be “all in” as participants in a robust civic life in a well-ordered civil society that respects the many sides of individual experience. Can we put all our faith in the decision-making of a political system, especially if we have not made an equivalent commitment to enrich the body politic—and indeed to contribute in ways that go beyond mere gestures of political participation, such as voting?
- We must take into account a larger part of the story of human challenges, not risk management alone. At the time of this writing, for example, Bill learned that the Governor of Pennsylvania, after having ordered the shutdown of all liquor stores in order to slow the spread of the virus, was reconsidering his decision. According to news reports, experts had told him that a sizable portion of the alcohol-dependent population could suffer severe consequences from suddenly withdrawn access to hard liquor, meaning harm would be done by other means.
Image by Angelo Giordano from Pixabay.