Indispensable Economics

April 24, 2009

Self-Interest and the Founding Fathers

By Dr. William Luckey

There is a new-ish theory going around conservative and Catholic circles, and it was expressed by two recent thinkers who spoke at our college this month. The theory goes like this:   1.          Thomas Hobbes (1588–1679) had a terrible view of man. Without the benefit of civil society, human beings would be cutthroat beings, “seeking power after power, a search which endeth only in death.” Therefore they need a dictator to keep them in line. 2.          John Locke (1632–1704) had the...

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April 03, 2009

It’s Beyond Economics Now

By Dr. William Luckey

This past week, President Obama forced the CEO of General Motors to resign. The real significance of this may be lost on most people. Some might say, "Well, if General Motors is not doing well, the CEO should be replaced." The major difficulty with this is that this is a special power of the GM Board of Directors, not the President of the United States. Effectively, this makes President Obama the Board of Directors of General Motors, and any other company he wants to control, and makes the...

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March 27, 2009

The Signs of the Times – Part V

By Dr. William Luckey

In this series, we have seen the lot of nations that have abandoned God. God is truly the protector of those nations who believe in him, trust in him, and do his will. Even though salvation is of the individual soul, salvation takes place in the context of social units—family, neighborhood, country. God can protect the milieu within which we and our families and our politicians flourish, but he does so because the people want him to. God does not force himself on anyone. If a person or a...

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The time—July 13, 1917. The place—Fatima, Portugal. The appearance of the Blessed Mother of God to three little children. The very horrible World War was still going on. You would think that Europe would have learned its lesson by now. You would think that between the many Scriptural lessons, some of which we have discussed in previous numbers of this five-part series, and the frequent pattern of falling away from God, repentance and falling away again followed by horrible political,...

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March 13, 2009

The Signs of the Times – Part III

By Dr. William Luckey

In case the reader was thinking that the events related in Part II were ancient history with no reference to more recent times, let us remind ourselves that God is God. He is unchanging. And while Our Blessed Lord and Savior brought the new Law of Love to earth, this does not mean that God has somehow become a fool. The time—the 1670s AD. The place—the Convent of Paray-le-Monial, France. Jesus has given a nun of the Visitation Order a number of revelations of His Sacred Heart. These...

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March 06, 2009

The Signs of the Times - Part II

By Dr. William Luckey

The time—722 B.C. The place—Israel, the northern kingdom of the Holy Land, with its capital in Samaria. The event—conquest of the northern kingdom by the Assyrians.   Israel had been plagued by a line of kings who had abandoned the Lord as had the whole land of Israel. They had accepted the gods of the surrounding peoples, and their morals had fallen to an all-time low. The prophet Hosea describes it this way:   There is no faithfulness, no love No acknowledgement of God in the land....

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February 27, 2009

Father Francis P. Canavan, S.J. Passes Away

By Dr. William Luckey

I have just gotten the news that the man I studied under for my doctorate at Fordam University, Rev. Francis P. Canavan, S.J., Ph.D. has passed away.   This is truly a sad loss, not only for me and his former students, but for the Catholic world and the world in general. He was a solid, orthodox Catholic priest, a great scholar, a world-class expert on the thought of Edmund Burke, and exceptionally humble. As former associate editor of America magazine, and through his writings and later...

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February 20, 2009

The Signs of the Times

By Dr. William Luckey

Part I – Introduction In the Gospel of St. Matthew, Our Lord says the following: "When evening comes, you say, ‘It will be fair weather, for the sky is red,’ and in the morning, ‘Today it will be stormy, for the sky is red and overcast.’ You know how to interpret the appearance of the sky, but you cannot interpret the signs of the times."Vatican II’s Gaudium et Spes asks us to try to interpret the signs of the times in the light of the Gospel. Obviously, interpreting the signs of the times...

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February 13, 2009

The Pandora’s Box of Non-profit Organizations

By Dr. William Luckey

The notion of capital formation and accumulation led me to wonder whether the formation or accumulation of capital in non-profit organizations was the same as it is in regular businesses. In order even to begin to understand the non-profit organization, one must realize that there are different types. There are some that function like a business, taking money for services from those who use the organization, such as colleges and most hospitals. But there are others who give their services to...

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February 06, 2009

Another Way to Kill Business: Taxes

By Dr. William Luckey

There are so many people out there who think that businesses are just rich, evil institutions. They do not reflect that it is business that gives us all the wonderful things we have today, many of which did not even exist in my childhood, and also employ countless people. They therefore cry out to government to tax corporations, because these folks think that they have too much money, and somehow they have stolen it from us, forgetting that no one is forced to buy anything. Let us look at...

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