Wednesday, August 24, 2011

Hoover Intellectualoid Goes Off the Rails

Kind of a disappointment, given that Tom Sowell is in the same building as this twit Epstein who sees Socialists under every bed.

...Limited government, low rates of taxation, and strong property rights are the guiding principles.

Unfortunately, many spiritual and economic leaders are working overtime to push social policy in the exact opposite direction. At the top of the list are two prominent figures: Pope Benedict XVI and financier Warren Buffett....

It's not likely that Epstein has read many (if any at all) Church papers on the economy.  If he had, he would have noticed that Leo XIII was clear on the question of "property rights," making that the phrase following "Life, liberty, and....." in his encyclical on social justice.  No Pope has ever retracted that (nor will any.)  In fact that phrase (property rights) was discarded by Jefferson in favor of "pursuit of happiness" in the Declaration.

[B-16] told journalists, "The economy cannot be measured by the maximum profit but by the common good. The economy cannot function only with mercantile self-regulation but needs an ethical reason in order to work for man." Standing alone, these words mirror the refrains of countless Spanish socialists,...

As you read the rest of Epstein's rant, you'll note that he simply discards any reference to "the common good" and natters/ninners/whiners only about "the need for profits."

Well, OK.  Profits are good.  Does the 'common good' preclude them?  No.  Does profit at the expense of the 'common good' lead to problems?  Yes.

Someday, Mr. Epstein may learn the meaning of the word "nuance."  It would be good for him.


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