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Jubilation
A
Book Proposal
The Economics of Jubilation
Toward a Regimen of Economic Rights and Responsibilities
February 2007
Carmine Gorga, Ph.D.
87 Middle Street, Gloucester, MA 01930
978-283-5926 Fax and Voice: 978-283-4936
Prospectus
I. Description of the Book
Economics is now controlling man. The pace of this trend has been accelerating during the last few centuries. With a full understanding and a gradual application of the intellectual tools discussed in this book, it is possible to create a set of conditions through which the trend can be reversed in a relatively short time span.
In addition to a preface, an introduction, and an epilogue, the book includes nine chapters. An Appendix that contains a brief description of the history and current status of the main topic dealt with in many chapters is under consideration.
Several chapters have already been written as separate papers; they require some editing to eliminate redundant information. They are available f for private distribution.
II. Synopsis
Preface - Life in the American colonies was dominated by various aspects of Judeo-Christian thought. The United States of America-not unlike other nations in the Western world-was fully imbued with the excitement of the Enlightenment. Today, the intellectual discussion in America as well as the rest of the world attempts to resolve not only the contradictions of the past, but also to absorb the effects of a universal culture recently adopted within the context of the global economy. Economics is at the core of this discussion; and Adam's Fallacy is at the core of economics. The many facets of Adam's Fallacy can be fully explained and resolved only by remembering that hoarding was at the core of the Judeo/Christian/Islamic tradition in economics and that hoarding was eliminated from the purview of economics by Adam Smith.
Introduction - The Introduction, written with Dr. Michael E. Brady, points out that there are two models in the General Theory: the Syllogistic Model of page 63; and the Mathematical Model of chapters 10, 19, 20, and 21. Both the reconstruction of the Mathematical Model and the deconstruction of the Syllogistic Model allow for the reintroduction of hoarding into economic analysis. Thus both methods allow us to blink Adam's Fallacy away.
Chapter 1 - A Relational Method of Analysis. This chapter gives the outline of a new method of research that allows us to move from a linear and reductionist approach, in which the world is reduced to isolated atoms, to a spherical type of analysis in which everything is gradually and systematically put in relation with everything else. The method integrates into one organic mental apparatus age-old tools of analysis that today lie scattered among a variety of disciplines, from logic and epistemology to linguistics, mathematics, and topology. To name just two such tools: the method includes the use of Boethius' principle of equivalence and Kant's definition of concept. The systematic application of this method gradually liberates Rationalism from its inner shortcomings and allows it to blossom into Relationalism. The first in-depth application of this method leads to a revision of Keynes' syllogistic model of the economic system.
Chapter 2 - The Revision of Keynes' Model. Soon after its publication in 1936, Keynes expressed the desire to go back to the General Theory and change its “forms”, but he never had the opportunity to do that. Notably, Hayek also repeatedly expressed his regret for not going back again to the General Theory. After a summer of intense intellectual struggle with that work, in 1965 this writer changed one equation in Keynes' syllogistic model of the economic system. That fundamental change-combined with manipulation of the other equations-gave birth to the Revised Keynes' Model. This model, in full accord with Gödel's Indeterminacy Theorem, became a tool for the understanding of the internal deficiencies of mainstream economics. The new model is a synthetic representation of a new intellectual world-a world composed of spheres within spheres-that this writer has been exploring ever since. With powerful assistance from Professor Franco Modigliani, a Nobel laureate in economics from MIT, the observation of this world at one instant in time eventually led to the publication of The Economic Process: An Instantaneous Non-Newtonian Picture in 2002. This chapter systematizes that work.
Chapter 3 - The Economics of Jubilation: Blinking Adam's Fallacy Away. Use of the Revised Keynes' Model for a retrospective exploration of the history of economic thought has recently led to the formulation of the Economics of Jubilation. This chapter is divided into three parts. The first part reconstructs the economics of Moses; the second part reconstructs the economics of Jesus; and the third part explores the conditions for the introduction of the Economics of Jubilation into the modern world. The pivotal condition is met by a mathematization of the Parable of the Talents. In total astonishment, this writer has recently discovered that this result is identical to the fundamental transformation brought by him in 1965 in the second equation of Keynes' original model of the economic system. The continuation of the analysis is supported by the mathematical models and the geometry detailed in the previous chapter. Thus is Adam's Fallacy blinked away. To quote from the paper, “In Appendix A we shall demonstrate that not one of these propositions stands at the touch of reason. For the time being, suffice to notice that the conflict between morality and economics is not a postulate of modern economics; the moral consequences of economics are immaterial to economists. Therefore, the separation of morality from economics can be considered as a transient phenomenon, a transient aberration that time will allow us to forget. We will then discover that Adam's Fallacy (Foley 2006), with all its rationalizations, has gone away by blinking it away. Here we can only distil the extended analysis into the following proposition: Human beings are free-not to choose between Gucci and Pucci-but between good and evil.” The next condition for the introduction of the Economics of Jubilation into the modern world is met by returning to the theory of economic justice as it was elaborated by the Late Scholastics and abandoned by Adam Smith.
Chapter 4 - The Theory of Economic Justice. This chapter points out that, from Aristotle to the Late Scholastics, the theory of economic justice was consistently formulated as distributive justice and commutative justice. As Schumpeter pointed out, the best thinkers of each age used this framework as the repository of the best economic analysis of the moment. Building on a paper published by this writer in 1999 on the definition of economics rights, this chapter completes the structure of economic justice by adding to it the explicit plank of participative justice. The chapter also shows that the description of economic justice is the mirror image of the description of the economic process, and points out that economic justice can be inserted into the modern world through the application of a specific set of economic rights and responsibilities.
Chapter 5 - Toward a Regimen of Economic Rights and Responsibilities. This chapter builds a set of economic rights and responsibilities in accordance with the needs of the factors of production; namely, land, labor, and capital-both in its physical and financial form. The right of access to land and natural resources is accompanied by the responsibility to pay taxes for the exclusive use of those resources; the right of access to national credit is accompanied by the responsibility to repay the loan; the right to the fruits of one's labor is accompanied by the responsibility-if working with others-to perform tasks commensurate with the value of the compensation received; the right to protect one's wealth is accompanied by the responsibility to respect the wealth of other people. The chapter points out that this list of rights and responsibilities is not a stand-alone effort; but rather that the list can be elevated to the rank of national economic policy. Thus we have the core of a policy covering land and natural resources; a policy covering the use of national credit; a labor policy; and an anti-trustification policy. These four policies are analyzed in light of their essential qualities and left there after a rather brief exposition, because much has been written about them, both by the creators of such policies and their commentators over the centuries. In chronological order, the four creators are Benjamin Franklin, Henry George, Louis D. Brandeis, and Louis O. Kelso. To list these authors together eliminates their inherent weakness. Alone they do not stand, but together they create a formidable set of integrated policies. The list also brings another important characteristic to the fore: these are all American writers; their systems of thought sprang from the American soil. Thus the soul of America as the best hope for the world is captured by the systematic analysis of this set of All-American economic policies.
Chapter 6 - Somism: Beyond Individualism and Collectivism. Somism stands for the social man, the person in the social context. This chapter points out that to fully appreciate the value-and to favor the conditions for the application-of a regimen of economic rights and responsibilities, we need to go beyond the limitations of both Individualism and Collectivism. Hence the need for a new political science theory that might be called Somism. All too briefly, Individualism tends to favor rights and neglect responsibilities, while Collectivism-apart from trampling upon the rights of the individual person-tends to assign responsibilities to an abstract entity such as society. Somism, instead, realizing the state of true interdependence between the individual person and society, assigns both rights and responsibilities to the individual person. Hence, among other results, it reduces the functions of government to a minimal and manageable body of responsibilities. The chapter also contains an appendix entitled “A brief description of the history and current status of Political Science Theory.”
Chapter 7 - Is Somism Thomism? While other chapters are almost completely written, with some of their basic ideas and research already in published form, this chapter instead is based on a very recent intuition: the intuition that Somism might be construed as a modern form of Thomism. This is an intuition that has yet to be fully researched and analyzed. It might turn out to be just pride, arrogance, and wishful thinking on the part of the writer, but certainly his superficial knowledge of the concept of the Common Good-and the conception of God as maximum common good-in St. Thomas leads to the hurried conclusion that the search for the common good is identical to the search for economic justice and moral interrelationships transposed into the psychological and intellectual needs of the modern age. Quite briefly, while theology is the beginning and the end of Thomism, theology is inadmissible evidence to a modern mind. Hence we shall try to present Somism as Thomism by looking at God not as a cause but as an unavoidable consequence of our system of thought. As a consequence, God waits until discovered by each soul. With the use of the relational method of analysis we shall be lightly touching upon such topics as the transformation of Thomistic realism, metaphysics, and theology into Relational Reality, Relational Metaphysics, and Relational Theology. In particular, Relational Theology allows for the search of what is not only common to the three monotheistic religions but to all religions. Armed with these intellectual tools, we might be better prepared to face the world of international relations.
Chapter 8 - In Search of Loving International Relations. With clouds darkening by the day over the international arena, attempting to establish “loving international relations” might be classified as a quixotic enterprise at best. This chapter ventures to show that the present path to international peace has been largely unsuccessful. The effort to create peace through armed force is indeed quixotic-as many military experts frankly admit. The real question is: What is an alternative to the use of force? If the question is systematically analyzed, a number of systematic responses are revealed. We need to establish a Department of Peace with resources and stature (eventually) equivalent to the Department of Defense. In addition, given that Mary is a highly respected icon in all three monotheistic religions, we need to develop an international “peace force” that might be composed of Mary Messengers of Mercy. Soon after, we need to develop a cadre of reconstruction experts; e.g., “SWAT Teams for Peace and Justice”, teams of experts who, fully integrated in the local populations, will not just talk about peace, but-using economic rights and responsibilities-demonstrate the way to build physical, social, economic, political, and psychological structures of peace.
Chapter 9 - The Functions of the Virtues. One of the subtle effects of modern economic theory has been the subversion of our ancient understanding of the virtues. On the one hand, the only virtue still officially acknowledged in modern culture is the virtue of prudence: the ability to accumulate wealth and add to the bottom line. On the other hand, there has been a proliferation in the number of virtues. In other words, confusion reigns. This confusion has many negative consequences. And yet, the inherent power of the virtues is such that their understanding makes the discussion come down from the stratosphere of intellectualism and empty moralism to become very up close and personal. This chapter attempts to point out that the list of virtues as conceived by classical writers is still valid, and that those virtues are so interrelated that if one undermines one virtue one undermines them all. By the same token, to truly exercise one virtue is to exercise them all simultaneously. Essentially this chapter points out that justice is not an external set of administrative procedures but a personal virtue, which, faithfully exercised, leads to a restructure of society through the restructure of social relationships-both nationally and internationally. Briefly, Karl Marx turned societal relationships upside down by making public what was private. Disastrous consequences ensued-and the world only changed for the worse because he did not pay any attention to the relationships among human beings. The exercise of the virtue of justice cannot be imposed from the outside; it has to be internalized. Once that is accomplished, we can start running the economy to the tune of justice-in a regimen of economic rights and responsibilities. This is a regimen that leads to freedom for all, without subtracting freedom from the privileged few who are supposed to be free while in reality are controlled by an economic system that at times runs wild. Economics is now controlling man. We ought to be smart enough to change that.
Epilogue - The Epilogue points out that only if we live under a regimen of economic rights and responsibilities will we be able to acquire full control over the economic system and enjoy the fruits of our own work; not the fruits of other people's work, as great many redistributionists propose. The adoption of this regimen is not an isolated step taken once and for all. As it can be seen from this brief outline, it is part of an integrated system of thought that begins with a new method of analysis and gradually invests all facets of our thinking processes. Catholicity is thus restored, not as a sectarian point of view, but as a truly universal system of thought. The system is also all-inclusive. Secularists can be as integral to or independent of it as any deeply religious person. No matter our religious preferences, we should all be able to make this a common goal: to transform the theory and practice of the dismal science of economics into the economics of jubilation. Sigmund Freud, eat your heart out: Is there any other way to foster jubilation in the heart?
III. Intended Audience
In addition to the mythologized intelligent reader, the intended audience is composed of policy makers, scholars, and undergraduate students who hunger for an organic understanding of the world of economics and politics-as well as the world of the intellect as a whole. Professionals who have observed that there are interconnections among various disciplines will find this book quite enlightening. Professionals who look forward to a renewal of their own discipline may find the book most useful, notably experts in such disciplines as Philosophy, Logic, Epistemology, Theory of Science, Economics, Political Science, and Theory of Justice.
IV. Table of Contents
Preface
Introduction
Acknowledgements
A Relational Method of Analysis
The Revision of Keynes' Model
The Economics of Jubilation
The Theory of Economic Justice
Toward a Regimen of Economic Rights and Responsibilities
Somism: Beyond Individualism and Collectivism
Is Somism Thomism?
In Search of Loving International Relations
The Functions of the Virtues
Epilogue
Footnotes
Index
VI. Carmine Gorga's Short Résumé
Carmine Gorga is a former Fulbright scholar and a recipient of a Council of Europe Scholarship for his dissertation on ”The Political Thought of Louis D. Brandeis”. Using the relational method of analysis, Dr. Gorga has demonstrated how to bend the linear world of economic theory into a relational discipline in which everything is related to everything else-internally as well as externally. He was assisted in this endeavor for twenty-seven years by Professor Franco Modigliani, a Nobel laureate in economics from MIT. The resulting work, The Economic Process: An Instantaneous Non-Newtonian Picture, was published in 2002. During the last few years, Mr. Gorga has concentrated his attention on the technical rules of civilized discourse, a relational method of analysis to which he has adhered throughout his research. He is currently bringing to light a few of the broad implications of those rules for our modern culture. For details, see www.carmine-gorga.us" www.carmine-gorga.us.
1. Present positions
President, Concordians.org Inc., 2003- a US Treasury Department certified Community Development Entity (CDE), ( www.concordians.org)
2. Education
Maturitá Classica, Liceo Sannazzaro, Naples, Italy, 1955
Ph.D. in Political Science, University of Naples, Italy, 1959
Diploma in International Relations, Bologna Center of the Johns Hopkins, 1961
M.A. in International Relations, Johns Hopkins' SAIS, Washington, D.C. 1962
3. Academic Honors
A Council of Europe scholarship for his dissertation on
the political thought of Louis D. Brandeis
A Fulbright scholarship
Tuition grants from the Johns Hopkins' School of Advanced International Relations (SAIS) both at the Bologna Center and in Washington, DC
4. Selected Accomplishments in Theory (with the help of a few outstanding minds)
Created Concordian economics, the first major installment of which has been published in The Economic Process: An Instantaneous Non-Newtonian Picture (2002)
Published a foundational article in The Journal of Markets and Morality, Spring 1999, on the theory of economic justice
Working on Relationalism
Selected Accomplishments in Practice (with the help of many outstanding people)
Preserved the public transportation system on Cape Ann
Created Gloucester Fishermen's Wives Association
Introduced fresh seafood into the national supermarkets
5. Selected Publications
"Not Simply a National Fund, but a Stabilization and Development Fund”, Mondo Economico, April 1964, 19 (14) 14-16.
"The Importance of the U.S. Fishing Industry: Some Enlightening Statistics" (with Louis J. Ronsivalli), Seafood America, July/August 1981, 1 (7)
26-7, 34.
"The Revised Keynes' Model" (an Abstract), Atlantic Economic Journal, Sept. 1982, 10 (3) 52.
"The Productivity Standard: A True Golden Standard” (with Norman G. Kurland), in Dawn M. Kurland (ed.), Every Worker an Owner: A
Revolutionary Free Enterprise Challenge to Marxism, Washington, D.C.: Center for Economic and Social Justice, 1987, pp. 83-86.
"Bold New Directions in Politics and Economics”, The Human Economy Newsletter, March 1991, 12 (1) 3-6, 12.
"Four Economic Rights: Social Renewal Through Economic Justice for All”, Social Justice Review, January-February 1994, 85 (1-2) 3-6. .
"Fisheries Renewal: A Renewal of the Soul of Business" (with Stuart B. Weeks), The Catholic Social Science Review, Vol. II, 1997, pp. 145-
161.
"Toward the Definition of Economic Rights”, The Journal of Markets and Morality, Spring 1999, II (1) 88-101.
Quality Assurance of Seafood (with Louis J. Ronsivalli), New York: Van Nostrand Reinhold, 1988.
The Economic Process: An Instantaneous Non-Newtonian Picture, Lanham, Md. and Oxford: University Press of America, 2002.
6. Public service
Executive director of Gloucester Community Development Corporation
7. Other Data: Date of Birth: December 8, 1935; Place of Birth: Roccadaspide (Salerno), Italy; Marital status: Married, one son.
Attachment
Some Evaluations of “The Economics of Jubilation”
From: Steve Kurtz <kurtzs@freenet.carleton.ca>
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May 2, 2006
The paper was tight and consistent. It deals mostly with the "ought" rather than the "is" as I view human nature and history. I've no objections to the values and internal logic.
[Steve Kurtz is an investment banker]
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From: Michael E Brady <mandmbrady@juno.com>
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May 10, 2006
You have written a truly monumental paper... Only one very, very small minor point separates us. I feel your criticism of Adam Smith is too harsh….
[Dr. Michael E. Brady is a lecturer in the Dept. of Finance and Operations Management at California State University at Dominguez Hills and Fullerton. He also teaches in the MBA program at Pepperdine University and at Chapman University]
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From: John C. Rao <Dvhinstitute@aol.com>
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May 29, 2006
I finally got a chance to read your text and it is indeed an incredibly original treatment of the whole issue. I have to read it again to understand some of the economic points, but the overall historical and moral treatment was immediately within the layman's reach and very impressive. Congratulations!
[John C. Rao, D.Phil., Oxford University, is an Associate Professor of History at St. John's University, and Director of the Roman Forum and the Dietrich von Hildebrand Institute]
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From: Baumolw@aol.com <Baumolw@aol.com>
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June 3, 2006
Thank you for your stimulating paper. It is evidently full of stimulating and valuable ideas. Since I have not done any work on these matters, there is nothing I can add aside from my best wishes.
[William J. Baumol is Professor of Economics at New York University, and Professor Emeritus and Senior Research Economist at Princeton University]
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From: Teresa Arnold <teresaarnold@verizon.net>
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July 4, 2006
Have you taught? I think you have; you teach the reader, or make the reader pause and reflect on how beautifully simple life could be.
[Teresa Arnold is a resident of Gloucester, MA]
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From: Rabbi Myron S Geller <msgeller@verizon.net>
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Handwritten note Aug. 4, 2006
Your objectives are worthy and I also share. The just distribution of wealth certainly is a biblical objective.
[Myron S. Geller is Rabbi Emeritus at Temple Ahavat Achim in Gloucester, MA]
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From: Roger Gordon <rgordon@jeljournal.org>
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September 21, 2006
The JEL is not an outlet for new research…. Given the length of your paper, I would suggest fleshing out your arguments and trying to publish it as a book.
[Roger H. Gordon is Professor of Economics at the University of California at San Diego and Editor of the Journal of Economic Literature]
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From: Dr. Wilfred Dolfsma <wdolfsma@rsm.nl>
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October 2, 2006
I regret to inform you that in its current form your paper unfortunately is unsuitable for publication in Review of Social Economy. Not only is it much too long, but its contents seem to be better suited for a History of Economic Thought journal. While RoSE does publish papers that draw on the history of economics, this should not be the main focus. If you were to develop your part III and build a focused argument, RoSE would be a suitable journal to submit your work to.
[Dr. Wilfred Dolfsma is Corresponding Editor, Review of Social Economy]
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From: Prof. Steven G. Medema <JHET@cudenver.edu>
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Letter of November 24, 2006
The paper really has two aspects: one historical, and the other contemporary. The latter is not appropriate for the Journal of the History of Economic Thought, the focus of which is intellectual history. The former aspect, which deals with the economics of Moses and of Jesus does fall within the scope of JHET. A paper focusing solely on one or the other or both of those topics might receive a more favorable reception.
[Prof. Steven G. Medema is editor of the Journal of the History of Economic Thought]
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