Field Report: A Michigan Teen Farms Her Backyard (via Rod Dreher)
Zenit:
History of Norms Addressing Gravest Crimes
Father Lombardi on Significance of New Norms
"A Great Contribution to the Clarity and Certainty of Law in This Field"
Norms Addressing "Gravioribus Delictis"
Changes Made to "Sacramentorum Sanctitatis Tutela"
Made to "Render the Text More Useful"
Fr. Samir: French ban on burqa a welcome law!
by Samir Khalil Samir
For the expert on Islam, the law is an invitation for European Muslims to strive for integration and marginalize Salafi trends of opposition and conflict. Moreover, the burqa has no justification in the Koran or Islamic tradition, it is merely a custom of Saudi Arabia (and some other countries) which confirms chauvinism and the "the woman’s grave".
New bishop of Yulin (Yan’an), a PhD graduate from Rome
by Zhen Yuan
Church tightens, clarifies rules on sex abuses by priests
Changes on ‘Rules on the Most Serious Crimes’ are made public today. They include faster procedures, a longer statute of limitations (20 years), treating as a crime the acquisition, possession or disclosure “in any way and by any means” of pornographic images of minors by priests. Changes are also made to the rules that govern crimes against the faith and the sacraments.
Religious freedom, the path to peace: a Carmelite convert from Hinduism comments
by Nirmala Carvalho
Sister Mary Joseph, a former Brahmin Hindu, since 1977 has lived in the cloistered Carmelite Convent in Mumbai. Here she comments to AsiaNews the theme "Religious freedom, the path to peace", chosen by Pope Benedict XVI for World Day for Peace 2011.
Ethnic unrest in Guangxi over water pollution by industrial plant
Thousands of villagers come out to protest against polluting aluminium plant, but are beaten by company security guards. Police face sit-ins and demonstrators, who belong to the Zhuang ethnic minority.
Asia Times:
Death on your doorstep
Restrepo directed by Tim Hetherington and Sebastian Junger
Repeated tight shots of earnest US soldiers are the perfect metaphor for what makes an otherwise cinematically-pleasing film almost useless for telling us anything about the real war. The lack of critical local knowledge of what it's like to live through decades of conflict leaves a gaping hole in this Sundance prize-winner. - Nick Turse
A year after Xinjiang riots, tensions simmer
On the surface, Urumqi, scene of last year's deadly riots in China's western Xinjiang autonomous region, seems calm. But as Beijing moves to develop the country's west, there are underlying ethnic tensions it will need to address to avoid future flare-ups. - Gordon Ross
Counterpunch:
Frida Berrigan, Trillion Dollar Babies: Re-examining the Pentagon's Spending Habits
Dave Lindorff, How Bank of America Got Away With a Huge Swindle
Paul Craig Roberts, Economics in Freefall
Another of Stiglitz’s shortcomings, one that he shares with most economists, is his habit of reifying the market economy. The market is a social organization. The results of market activity reflect the behavior of the human participants in the market. When economists reify the market, they attribute the behavior, ethics, and morality--or lack thereof--of humans to the market itself. Thus, Stiglitz describes human failures as “market failures,” and he asks in his new book, Freefall, “why didn’t the market exercise discipline on bad corporate governance and bad incentive structures?”
Social institutions are inanimate. They do not possess life and cannot impose good outcomes on human action.
Libertarians also reify markets, but instead of blaming markets for human failures, they imbue the market with human virtues and even with the super-human virtue of producing results that human intelligence cannot improve upon. Economists’ “risk models” for which Nobel Prizes have been awarded and Federal Reserve chairman Alan Greenspan attributed the social institution with economic wisdom beyond man’s.
It is likely that the practice of reifying the market economy developed as a form of shorthand. It was convenient to say that the market did this and that rather than to have to describe the human interactions that produced the results. The market was transformed from an abstraction into a life form and became the actor instead of the humans operating within the institution.
If the outcomes are good, libertarians attribute the good results to the market’s virtues; if bad, libertarians blame human interference--government regulation. Economists of Stiglitz’s persuasion see it in the opposite way. Good results are produced by regulation; bad results are the result of allowing the market to make decisions on its own.
This way of thinking, which reifies a social institution, is ingrained in economics. It is the source of enormous confusion and has resulted in a pointless long-running ideological battle that Stiglitz calls “a battle of ideas.”
It is possible to clear away the confusion. First, understand that a free market is one in which prices are free to respond to supply and demand. Economists of all persuasions understand that to fix a price below the price at which supply and demand equate results in shortages. Economists have learned this from rent control. Fixing a price above the price at which supply and demand equate results in surpluses. Economists have learned this from agricultural subsidies. A free market does not mean a market in which human behavior is not regulated. A free market is one in which supply and demand are permitted to equate.
Second, understand that regulation regulates human behavior, not the market. It is the actors in the market who are charged with regulatory infractions, not the institution itself. Regulation is necessary because of human faults, such as greed, fraud, carelessness, not because of market faults. Regulation is necessary because of human failure, not because of market failure.
Third, understand that the problem of regulation is that it is done by flawed humans. Human flaws do not disappear by moving human action from the economy to government. Most likely the flaws worsen as government decisions are often unaccountable. Many economists assume that regulators act in the public interest. However, as George Stigler, another Nobel Prizewinner, pointed out several decades ago, regulators are invariably captured by the industries that they regulate.
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