OrthodoxNet.com Blog

Human Events | Dr. Arthur Robinson | June 8, 2009

We are all familiar with various kinds of batteries — batteries that power all sorts of devices such as cell phones, toys, motor starters, and even some automobiles. Electrical energy is easy to make by several methods, but it is difficult to store. This is the reason that most devices that use electricity are stationary, so that they can be connected through the electrical power grid directly to electricity generating plants. Portable batteries and electrical generators are bulky and expensive.

Most of us are not aware, however, that our electrical power plants themselves are also batteries in a sense — huge installations that cost very large amounts of energy to construct. This construction energy comes in various forms, but all of it is fungible — that is to say is inter-convertible with electrical energy when estimating its value and availability. more »

Acton Institute | Anthony B. Bradley Ph.D. | May 6, 2009

Necessity is the mother of invention, said Plato, and the truth of the proverb has been borne out once again. Necessity is generating entrepreneurial energy amid America’s current economic crisis, according to a new study by the Kansas City-based Kaufman Foundation. The study reveals an increase in business startups during 2008, as the recession was taking hold. The rise is consistent with similar previous trends, such as the boomlet occurring after the tech bust of the 1990s. Throughout human history, a nation’s best resource in time of crisis has been the unleashed creative and entrepreneurial spirit of its citizens. more »

Life, Liberty Blog | Daniel | April 22, 2009

Is the Christian Faith compatible with a Free Market economy? Many lay people and most clergy would probably answer that question negatively, especially during these times. But is this really the case?

Kevin Allen, at Ancient Faith Radio, discussed these topics and much more with Chris Banescu. The answers Mr. Allen received are very enlightening. This is a must listen to anyone, not just Christians, who work for a living, which means it is a must listen for everyone. more »

Acton Institute | Hunter Baker | May 27, 2009

Those who promoted the War on Poverty and other grand plans to end poverty, writes Hunter Baker, “had no inkling that these good-hearted strategies would lead to enduring cycles of poverty and family disintegration that threatened to consume entire generations. Wishing for good outcomes resulted in disaster.” more »

Breitbart | Phelim McAleer & Ann McElhinney‏ | May 20, 2009

THE BIG problem with renewable energy is that it just doesn’t renew itself. The sun does not shine enough and the wind doesn’t blow enough to power the towns, cities, factories, hospitals and schools that make our lives so livable.

No environmentalist would ever allow their child to be treated in a hospital fully powered by “renewables”. They would not take the risk that the wind might stop whilst their baby was on the operating table. They would insist that the hospital and the life support systems had a fossil fuel powered back-up. more »

TIP Strategies | May 1, 2009

This animated map provides a striking visual of employment trends over the last business cycle using net change in jobs from the U.S. Bureau of Labor Statistics on a rolling 12-month basis. We used this approach to provide the smoothest possible visual depiction of ongoing employment dynamics at the MSA level. By animating the data, the map highlights a number of concurrent trends leading up to the nation’s present economic crisis. The graphic highlights the 100 largest metropolitan areas so that regional trends can be more easily identified. more »

American Thinker | Jeff Lukens | Apr. 29, 2009

The contradictions between Obama’s words and actions are many. He opposes big government, and then he vastly expands it. He says he favors bipartisanship, but doesn’t practice it. He says he is against earmarks, and then signs the largest pork package in history. And that is just to name a few.

Such inconsistencies are contributing to a lack of confidence in Obama and his economic policies. The budget deficits he proposes are staggering. The trillions of dollars he wants to spend are incomprehensible. There is no evidence that stimulative government spending even works. Obama is apparently racing to remake America in a socialist mold before public sentiment turns against him. One wonders whether his political capital will run out before financial capital of the country runs out. more »

AFR - The Illumined Heart | Kevin Allen | Apr 17, 2009

Writer, attorney, and university professor Chris Banescu discusses the economic, moral and spiritual issues surrounding the “capitalist” economic model and whether it serves the best interests of Christians living the life of the Beatitudes, in this interview with Kevin Allen host of The Illumined Heart podcast on Ancient Faith Radio.

Orthodox Christianity And Capitalism: Are They Compatible? - 4/17/09

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Investor’s Business Daily | John Tamny | March 19, 2009

In his 1942 book, “Capitalism, Socialism and Democracy,” Joseph Schumpeter asked the essential question: “Can capitalism survive?” His unsettling answer was, “No. I do not think it can.”

Schumpeter’s words were in no way meant to denigrate capitalism. Instead, he felt “its very success undermines the social institutions which protect it.” History in many ways proved his views prophetic.

The success of capitalism means that many are allowed to do things that have nothing to do with productivity. And from government and academic elites that frequently seek to undermine the very system that enabled their cushy jobs, to foundations created by capitalist profits that often dismiss same, the commercial success wrought by the pursuit of profit has created an unproductive elite that lives off the very business profits that it regularly casts a skeptical eye on. more »

When a Liberal Democrat, who supported Obama before the election, is saying this in week 6 of his presidency, you know things are bad, really bad, out there.
TheStreet.com | Jim Cramer | Mar. 5, 2009

Jim Cramer: Look at the incredible decline in the stock market, in all indices, since the inauguration of the president, with the drop accelerating when the budget plan came to light because of the massive fear and indecision the document sowed: Raising taxes on the eve of what could be a second Great Depression, destroying the profits in healthcare companies (one of the few areas still robust in the economy), tinkering with the mortgage deduction at a time when U.S. house price depreciation is behind much of the world’s morass and certainly the devastation affecting our banks, and pushing an aggressive cap and trade program that could raise the price of energy for millions of people. more »

Wall Street Journal | Feb. 26, 2009

Take everything they earn, and it still won’t be enough.

President Obama has laid out the most ambitious and expensive domestic agenda since LBJ, and now all he has to do is figure out how to pay for it. On Tuesday, he left the impression that we need merely end “tax breaks for the wealthiest 2% of Americans,” and he promised that households earning less than $250,000 won’t see their taxes increased by “one single dime.”

This is going to be some trick. Even the most basic inspection of the IRS income tax statistics shows that raising taxes on the salaries, dividends and capital gains of those making more than $250,000 can’t possibly raise enough revenue to fund Mr. Obama’s new spending ambitions. more »

Townhall | Dennis Prager | Feb. 24, 2009

From California to the Boy Scouts, It Destroys More Than It Builds

Virtually throughout its history, and certainly in the 20th century, California has been known as the place to go for dynamism and growth. It did not become the richest, most populous, and most productive state solely because of its weather and natural resources.

So it takes a lot to turn California around from growth to contraction, from people moving into the state to a net exodus from the state, from business moving into California to businesses leaving California.

It takes some doing. And the left has done it. more »

The Wall Street Journal | February 17, 2009

If you thought Washington’s stimulus debate was depressing, take a look at the long-running budget spectacle in California. The Golden State’s deficit has reached $42 billion, Governor Arnold Schwarzenegger is threatening to furlough 20,000 state workers (go ahead, make our day), and as we went to press yesterday Democrats who control the legislature had blocked lawmakers from leaving until they finally get a deal. more »

Washington Post | Charles Krauthammer | Feb. 6, 2009

“A failure to act, and act now, will turn crisis into a catastrophe.” — President Obama, Feb. 4.

Catastrophe, mind you. So much for the president who in his inaugural address two weeks earlier declared “we have chosen hope over fear.” Until, that is, you need fear to pass a bill.

And so much for the promise to banish the money changers and influence peddlers from the temple. An ostentatious executive order banning lobbyists was immediately followed by the nomination of at least a dozen current or former lobbyists to high position. Followed by a Treasury secretary who allegedly couldn’t understand the payroll tax provisions in his 1040. Followed by Tom Daschle, who had to fall on his sword according to the new Washington rule that no Cabinet can have more than one tax delinquent. more »

The Wall Street Journal | by Stephen Moore| January 9, 2009

Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read “Atlas Shrugged” a “virgin.” Being conversant in Ayn Rand’s classic novel about the economic carnage caused by big government run amok was practically a job requirement. If only “Atlas” were required reading for every member of Congress and political appointee in the Obama administration. I’m confident that we’d get out of the current financial mess a lot faster. more »

Acton.org | Michael Miller | Jan. 21, 2009

Who would have imagined 20 years ago — when the Berlin Wall fell and we celebrated the death of socialism — that capitalism would begin 2009 under heavy fire. The Cardinal of Westminster, Cormack Murphy O’Connor, reportedly went so far as to say that, as 1989 marked the end communism, 2008 was the year when “capitalism had died.”

What are we to make of capitalism in light of all the crises, fraud, and government intervention, when even some traditional supporters of markets are supporting bailouts and seem to have lost faith in the market order? Is capitalism no longer credible? Is capitalism really to blame for the financial woes we now face? more »

ChrisBanescu.com | Chris Banescu | Jan. 22, 2009

In today’s turbulent financial times and difficult economic conditions, a lot of unjustified criticism and unwarranted accusations have been laid at the doorstep of capitalism. Many in the mainstream press and academia, a majority of politicians, and a large number of Americans have jumped on the bandwagon and unfairly blame capitalistic principles for the huge mess that we are in. Such widespread confusion evidences a misunderstanding by many Americans of how value is actually created in society and what capitalism really represents. more »

FoxNews.com | John R. Lott, Jr. | Jan. 19, 2009

Barack Obama claims that the House of Representatives’ new stimulus plan is needed to save the economy. Democrats promise to be “creating or saving of four million jobs.” News media report in all seriousness: “The democrats vow no earmarks or special projects will be attached to the bill. The focus is on jobs.” Also “more than 90 percent of the jobs created are likely to be in the private sector.”

Unfortunately, though, the $825 billion “stimulus” package has nothing to do with creating or saving jobs — it has everything to do with moving jobs from industries that Democrats don’t like to industries that they do. The “stimulus” package is just a wish list of every government program that liberal Democrats have long wanted. more »

American Thinker | Jim H. Ainsworth | Jan. 16, 2009

A lot of our economic troubles could be solved if we could just keep our emotions in check. Seriously. It seems that fear, greed and the thirst for power have swept the country like an airborne virus. The fear of doing nothing rules the day — not logic, not study, not knowledge or analysis. Certainly not patience. Our leaders, whoever they are, are acting like third grade schoolchildren who have been told by their teacher that a snake is loose in the room. And by the way, wouldn’t you like to know who that teacher is? Who is in charge? more »

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