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St. Augustine does believe that individual governments can be good. WebLuckey was a professor at Christendom College from 1984 until he retired in 2015, according to a statement on the college's website. It does not discriminate on the basis of race, color, national and ethnic origin in administration of its educational policies, admissions policies, scholarship and loan programs, and athletic and other school-administered programs. But when governments start printing more certificates than there is gold, like a counterfeiter, the value of those certificates begins to decline. But the morality industry, that is, those who make their living, so to speak, arguing that the cause of our financial problems is the lack of morality inherent in the free market, have missed the major point made by my Brother colleague: the problem of rent seeking.Famous economists Robert B. Ekelund and Robert D. Tollison define rent seeking as: The behavior associated with the use of scarce resources in the pursuit of monopoly profits created by government action; the process of using scarce resources in an effort to obtain rents or a transfer of wealth.[1]A rent is the payment to a factor of production such as land, labor, capital and/or entrepreneur skill in excess of its opportunity costs. Catholics who merely parrot what they hear and read, without looking at the actual situations, and taking advantage of the findings of such sciences as political science and economics, are doing a disservice to their fellow man, their fellow Catholics, and their country. WebWilliam LUCKEY, Professor Emertus | Cited by 2 | of Christendom College | Read 5 publications | Contact William LUCKEY This agreement, among other things, limited the ability of the state governments to issue paper money and did not grant such a power to the federal government. Noticeably missing was the US Chamber of Commerce, a public critic of Obamas economic policies, and other representatives of small business ownerssmall business which employs most American workers. (See my blog entry, The Economics of Politics.)St. Augustine understood this well. I cannot say legitimately, I will give you Bobs pen. Only Bob can give you his pen. Statement Regarding Former Professor Dr. William Luckey Paul Roche, New American Library, 2005, p. 573)In The Frogs, two citizens of Athens descend into Hades for the purpose of resurrecting two well-respected politicians of the past to save the city-state from its current, corrupt rulers. In addition, GE is a big supporter of the cap in trade (cap and tax) bill. All attacks on the free market by Catholics saying that it fosters greed, etc., have been shown to be nonsense, and that greed resides in the human heart. [38] Think of Edgar Allen Poes The Bells. The heft, feel, and tone of the coins were sufficient, for most purposes, to distinguish a counterfeit from the genuine article. Not coincidently, Mr. Immelt is on the Board of Directors of the New York Federal Reserve Bank, which is the most powerful of the Fed banks.I am not picking on GE, but I am attacking the notion that the government has a role in managing the economy, because this opens the door to groups and companies looking to get a hand on government monopoly privileges and your tax money, instead of earning it the hard way. Raymond Franklin, 40, was indicted on possession of a schedule I or II substance, felony possession of ammunition and petit larceny. This is an example of cosmos in the area of space. Of course not. Two recent events struck me as significant in enlightening me as to the status of Catholic thinking regarding government. Those not accepting the paper money being issued by each of the self-proclaimed independent states or by their Continental Congress were to be treated as Loyalists and have their property seized.So, in view of the inflation that burst out during the Revolution and Confederation periods, there was called a convention for the purpose of drawing up a new agreement among the states.