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
In antebellum America, the U.S. underwent what historians call “the market revolution.” This is a movement analogous to the “Great Transformation” Karl Polanyi sketched in England and Europe. (Interestingly, Polanyi himself excepts the American experience from the process he outlines given the availability of land for the taking in the U.S. relative to Europe.) The penetration of the market and market forces into the everyday lives of everyday people separates the period of the market revolution and afterward from the time before it. The rise of wage labor and production for markets, rather than production largely for one’s self and one’s family, created different rhythms and risks in life relative to agrarian life prior to the rise of that system.
Wages for American working men got a double whammy during the last fifty years. First, starting in the late 1960s, American women entered the paid workforce as never before. This added significantly to the supply of labor in the American workforce. Secondly, just as the American labor market had started to move beyond the economic shock of increased entry of women into the workforce, the uptick in globalization – easier mobility of capital and labor across national borders – effectively increased the supply of labor competing with U.S. workers a second time. Many of these workers were willing to work for wages significantly below wages for American workers. There are other causes as well, but these factors certainly contributed to stagnating wages for working men in the U.S. over the last 50 years.
But this is not simply a story of loss; there are tradeoffs.
Hillbilly Elegy is J.D. Vance’s raw, uncensored, personal history of his Scots-Irish family who struggled in Ohio after leaving their Kentucky home. Vance grew up amid domestic strife and a never-ending cycle of new stepfathers, his family weighed down by dwindling economic prospects and drug dependency. A Marine veteran who graduated from Ohio State and Yale Law, Vance considers his upbringing from the vantage point of a San Francisco investment firm, separated by space but not by emotion or memory—or accent. Fraught relationships continue to pull him back to his small-town Ohio roots, and convince him that the pat solutions of the Left and the Right are inadequate to the problems of America’s forgotten and left behind.
John Stuart Mill is a pretty complicated figure in the history of liberty. The phenomenon of Donald Trump is a pretty complicated development in American politics currently. Both had demanding fathers, successful professional careers, and an impact on the world around them, in ways intended and unintended. It’s doubtful Mr. Trump seriously thought he’d get this far as a candidate, and I wonder if Mill could have envisioned how much his contributions to the history of ideas would have promoted the growing rift between utilitarianism and liberalism.