Editor’s note: This essay appeared in Capitalism and the Common Good According Michael Novak: A Law and Liberty Symposium on First Things
In his recent essay on the legacy of Michael Novak, First Things editor Rusty Reno has explained to longtime subscribers to Richard John Neuhaus’ old magazine where Reno is going with it and why.
By Michael Matheson Miller
In his recent essay on the legacy of Michael Novak, First Things editor Rusty Reno has explained to longtime subscribers to Richard John Neuhaus’ old magazine where Reno is going with it and why. Observers such as John Zmirak and Joe Carter have wondered at several First Things pieces that shyly or openly make defenses of socialism.
Reno’s piece makes it clear that he disagrees with Michael Novak, and perhaps by implication Father Neuhaus, on the viability of a dynamic, open society—and the economic system that underpins such a system. He is looking for some alternative to the market economy. For him, that involves a number things including succumbing to the allure of what I’ll call “managerial capitalism.”
The merit of Reno’s piece is to provoke discussion about complex issues and to highlight some of the problems we face in the current system of global capitalism. I share some of his worries. Unfortunately, he seems to have let his desire to be provocative overcome a fair and reasonable assessment of Novak, and his analysis of the current state of affairs reveals less about Novak’s flaws than his own. Continue Reading Here
Alasdair MacIntyre presents Ethics in the Conflicts of Modernity: An Essay on Desire, Practical Reasoning, and Narrative as a summation and restatement of central ideas in his moral philosophy, ideas that will be familiar to readers of his earlier major works. He says he wants to minimize technical discussion of the writings of professional philosophers. Instead, he aims to make his arguments accessible to non-professionals. Those who will read this book, however, are most likely to be already familiar with his work and want to see how he now formulates his arguments. Those who have not previously entered this world…
Peter Feuerherd’s recent column at JSTOR Daily discusses sixteenth century Protestant Reformer John Calvin and his influence on capitalism. Calvin is viewed negatively by most moderns, both because of his identification with the doctrine of predestination – that God has eternally elected those who will be saved – as well as for a common, if not quite accurate, styling of the Weberian hypothesis, that Calvin and Calvinists believed worldly affluence to signify divine election.
The Industrial Revolution resulted from a repudiation of the ancients—but not just the ancients. The “Great Enrichment” of the late 18th and 19th centuries was a fully “modern” rejection of the cultural inheritance of the Renaissance, to say nothing of the medieval synthesis. The product of cultural innovations in Western Europe, and particularly England and Scotland, a new and paradigmatic culture took form that would produce a global revolution. Human history had witnessed nothing like this cultural rupture that, in an epochal blink of an eye, rendered so much of the past irrelevant. This is the story told by Joel Mokyr…
When Charles G. Koch, the chief executive officer of his family business, recently wrote an op-ed for the Washington Post saying he agreed with Democratic presidential candidate Bernie Sanders that our economic system is “often rigged to help the privileged few,” it raised eyebrows even among the company-town’s power structure.
The online version was absolutely swamped with comments. Almost all of the commenters agreed about the evils of crony capitalism but most of them unfairly attacked Koch as hypocritical for being a capitalist himself. The examples he presented of Koch Industries’ opposing government subsidies that could have advantaged its business counted for exactly nothing. Pretty tough to crack the capitalist stereotype even when the capitalist supports one of the Left’s core precepts.
Future students of our age may well treat Friedrich Hayek’s The Road to Serfdom and James R. Otteson’s The End of Socialism as bookends on an era. Hayek raises the specter of state collectivism in his classic work from 1944. In this new book, Otteson charts socialism’s end, in both senses of that word: the goals it fails to realize as well as its inevitable collapse.
Walter Isaacson is one of our greatest biographers. He has written three superb portraits of men who in large measure defined their age—Benjamin Franklin, Albert Einstein and Steve Jobs. Isaacson has both the empathy and knowledge to make subjects as varied as a universal sage, a scientific genius, and an entrepreneurial visionary come to life. He has now written The Innovators, a group sketch of people who have created our world of ubiquitous computation.
It is a finely etched and exciting picture. We learn that Ada Lovelace, Byron’s daughter, was the first to understand that computational machines could do any logical operation with the right instructions: she is the grandmother of software. And William Shockley was so paranoid that, even after winning the Nobel prize, he obsessed over who on the Nobel committee might have tried to prevent him from getting it. Isaacson also skillfully weaves important themes through the book, such as the ability of many innovators to do, in the words of the Countess Lovelace, “poetic science,” combining aesthetic sensibility with analytic acumen to create new products.
Unfortunately, in his explanations of what drives progress in technology and innovation, Isaacson slights the role of markets and of America.