19 March, 2020
Those who like to celebrate the contemporary capitalist economy frequently do so in terms of choice. Some are quite open that it is consumer choice that excites them, the ability to pick and choose among an immense variety of products, according to one's whims and desires. Others, more conscious of the shallowness implicit in reducing man to simply a consumer of goods, are wont to point out that even though our society itself may be preoccupied with material possessions, we ourselves as individuals are free to occupy ourselves with better things, with cultural or spiritual goods, for example. While of course this is true, one might wonder why so few people seem to manifest much interest in these latter types of goods. But perhaps the real problem here is the attempt to reduce human choice solely to the individual level. It is true, of course, that individuals do have the freedom to choose. Our wills were created by God to desire goods, but we have the freedom to choose among goods, to choose appropriately or not, to make choices that do not interfere with the attainment of our eternal salvation, or that make this more difficult or even impossible to attain. This does not mean, of course, that we must always choose the highest goods; rather, as the collect for the Third Sunday after Pentecost in the traditional Roman rite puts it, in such a balanced way, that "we may make use of [transeamus] temporal goods so as not to loose eternal goods."
06 March, 2020
Comparative Advantage, the idea that one country can produce a good at a lower opportunity cost than other countries. Based on this idea, if the industries in one country focus on those products where they have the lowest opportunity cost, and import products where they don't, this provides an abundance of lower priced goods for everyone. For the advocates of Free Trade, price  appears to be the ultimate test of what is economically good. They scoff at opponents and critics of Free Trade as if their criticisms of it are completely without merit. Even some economists who have dared to question Free Trade, still try to uphold Comparative Advantage as a reasonable idea. The reality is that the Free Trade ideology ultimately rests on Comparative Advantage. Therefore, it is prudent to examine the criticisms of it to see if they do, in fact, merit consideration. I believe that history has proven that they do.