Sorry, I got waylaid by health care debates. I should have known better, particularly since I never have anything constructive to say about that topic. Back to Medaille (where at least I’ve achieved a degree of level-headedness).
The Economics of Distributism II: Political Economy as a Science
Medaille kicks off talking about how economists have longed to make their craft (economics) a “perfect” science. He quotes Friedman:
As Milton Friedman puts it, “Positive economics is in principle independent of any particular ethical position or normative judgments. As [J. N.] Keynes says, it deals with ‘what is,’ not with ‘what ought to be.’â€
I start with this because I think it’s important to qualify that most of the Christian free market capitalists I know would strongly disagree with Friedman here. In fact, this is something my father taught us early on in life: economics alone doesn’t save you, nor can we live as if economics can’t be touched by our biblical worldview.
Why is this important? Because here we come to one of the downsides of adopting a general label (like “capitalist” or “Reformed” etc.). Labels, as Davey and I have discussed, are inevitable and certainly not all-evil. But I think it’s important to remember that these labels we fight over and try to define are never to be accepted wholly. They must always be accepted with exceptions, because the world never fits in any of those little boxes. Should we even bother with labels? Of course! As Davey pointed out to me, to try and make for yourself an independent patchwork quilt of beliefs is a fruitless and even dangerous exercise. But when we seek to defend such labels, we should do so while noting their weaknesses, while noting where our life experience or other influences have persuaded us to disagree.
Conversely, when we seek to attack another label, we ought to employ the same tactics. Take, for example, my attacks on socialized medicine. Take them as an example NOT because it’s a good one, but because it’s the opposite. I would have been better off focus on specific criticisms, specific things instead of spouting off. (And no, this isn’t an invitation to revisit the topic. Please no.)
Back to the article.
I don’t have much to contribute about the rest. His point about statistics (that they involve judgments and can’t be trusted as objective numbers) is a good one. The final conclusion? Every “humane” science must be concerned with the end of man, which is to say, before we try and decide what economic system is best, we must first wrestle with the question of what is the chief end of man.
Nothing new, and I might add that this isn’t something that the Christian free market capitalists I know would disagree with. (Again.) Perhaps the next post will bring something more controversial.