Does Anybody Understand This Stuff?: Part 2, Biblical Economics – A Thumbnail Sketch of 4,000 Years of Economics

Read Part One Here

Read Part Three Here

Don’t do it!  Don’t turn your brain off at the sight of the word “Economics”! Give me a chance to explain this in such a way that I promise—economics will be exciting.

Our modern understanding of economics comes from a long-term developmental process, albeit, most of us have heard little of this history.

Today, like most academic subjects, economics is so specialized that the average American cannot follow its intricate mathematical models and terminology.

This is absurd, as of all of the subjects taught in schools, none impacts us more than the economy, and none of our modern academic subjects is more inseparably connected to human action.

Before we start, it is important that we are all on the same page regarding the definition of economics.  When I use the term “economics,” I mean all or a combination of the these terms:

  1. buying and selling
  2. the monetary system
  3. a social system of exchange
  4. the study of human action
  5. the science of spending
  6. human nature
  7. political economy
  8. the study of credit and debt

 

Economics comes from the Greek oikos (meaning “home”) and nomos (meaning “law” or “order”), or the ordering of the home. That should give us a clue right there that this was never intended to be rocket science.

As humanity developed into political states, this term was expanded to “political economy” and was meant to express the laws of production of wealth at the state level.

Today, the science of economics is so convoluted that most of us are either completely oblivious of the science, frustrated with its inaccurate inane complexity, or afraid to talk about it for fear of showing our ignorance.

This is truly an injustice, as economics (outside of the application of mathematics) is what we do everyday.  Our collective everyday actions have real political and culture power.  If we fully understood this, we could have much more impact in our own governance.

Ok, now to our thumbnail sketch of economics. There are 10 stages of economic development we should be aware of:

  1. Biblical (Hebrew)
  2. Greek and Roman (Aristotle and early Christian Europe)
  3. Medieval (Aquinas, Feudalism)
  4. Mercantilism
  5. Physiocrats
  6. Liberalism, Classical Economics (Smith, Ricardo, Mill, Bastiat, Say…)
  7. Radical (Hegel, Marx, Marcuse, Lenin)
  8. Interventionists (Keynes, Myrdal, Galbraith, Samuelson, Marshall)
  9. Neo-Liberals (Friedman, Strauss)
  10. Austrians (Mises, Hayek, Rothbard)

 

Biblical Economics (2000B.C.-700B.C.)

Biblical economics declares charity to be a key to happiness and prosperity.  The rich giving to the poor (requires them to be somewhat involved and cognizant of the plight of the poor) and even the poor giving their fair share (the widow gives her mite).

Part of the charm of this economic truth is that it tended to lead to a simpler life and keeps people grounded to what is real. The idea was to seek a good life and adhere to that which brings happiness.

This is critical to the concept of having a well ordered home “oikos  nomos” and in turn a well ordered society.  Other cultures spoke of this with Confucius taking the lead in 500 B.C. teaching that well ordered societies required well ordered homes, which required well ordered lives and minds.

This is not to suggest that this place in history was free of  greed and avarice, but the lack of technology and developed infrastructure of the time seems to have diminished the ill effects considerably.

Almost all of the economic success of the Old Testament surrounds the year of the Sabbath and the year of Jubilee.  These laws were solutions to some basic negative human tendencies. Put in today’s terms, every seven years our consumer debt tends to exceed our savings and every 49 years our personal debt tends to exceed our assets.

Since this is a human nature tendency, God created this economic system to actually take advantage of this weakness and make it a strength.

As the Sabbath is a day of rest, so is the Sabbath Year a year of rest.  The entire economy rested from nearly all labor and did things (more celebrations, etc.) that it normally wouldn’t.

During the Sabbatical year all slaves (mostly bond-servants) were freed, all debts cancelled, and all crops were left untouched and the poor permitted to gather the harvest.  This of course occurred every seven years.

Although there is an seemingly obvious correlation with this practice and good civic will and prosperity, no hard data is available to explain why.

The Jubilee year occurred every 49 years.  It observed all the points of the sabbatical year and then some.

All land reverted back to its original owners. This protected the family inheritance from the previous generation’s potential folly or squandering.

This is the first indication of an economic cycle that expands and contracts on a regular basis.  More on this latter.

Another aspect of this ancient economy was being a worthy member of society (being worth your salt*) and living frugally. Consider the parable of the talents.  Historically, a true covenant people have always been highly prosperous.

The people were taught to save, prepare for cyclical bad times, and not go into debt.   This does not mean that they did not engage in speculation or venture capitalism, or that they always heeded this counsel, but it was simple to understand and easy to implement.

A Tithing Barn

The tithe is also a vital principle for successful economics. 10% of net income went to the religious institution of their choice. A vital component of this principle is that Deity is recognized in this action.

Today there is visible evidence that people who give 10% to God enjoy happier and more fulfilling lives than those who don’t.

The final biblical economic principle we shall discuss is that of morality.  Over time, morality always leads to true happiness and wealth.  Staying true to relationships, not giving in to temptations and weaknesses, and obeying the Golden Rule all lead to long-term happiness and tranquility.

These 6 principles are still the best keys to success and a stable economy.

* This phrase has Roman origins, to be worth your wages. The Romans served out rations of salt and other necessaries to their soldiers and civil servants. These rations were called by the general name of salt (sal), and when money was substituted for these rations, the stipend went by the name of “sal-arium” or salary.

To be continued………

Thanksgiving: A Proclamation

How many of us know the origin of Thanksgiving?

Thanksgiving celebrations began as early as 1541 along the eastern seaboard of North America. Most of us relate to the celebration at Plymouth, Massachusetts in 1621.

The Pilgrims, having survived their first winter (during which about half of them died), invited their local Indian friends to join with them in several days of religious activities, feasting, and athletic competition.

Thanksgiving remained a New England  celebration and did not spread to the rest of the colonies until the American Revolution, except when the Continental Congress called for official days of thanksgiving and prayer in 1776, 1777, 1779, and 1782.

The first federal Thanksgiving Proclamation was issued by President George Washington in 1789. This pronouncement was followed by President Lincolns’s National Proclamation in 1863.  It wasn’t until 1941 that Congress finally passed a law establishing Thanksgiving as an official national holiday to be celebrated every year on the Fourth Thursday in November.

Below is Washington’s proclamation in 1789:

By the President of the United States of America.

A Proclamation.


WHEREAS
 it is the duty of all nations to acknowledge the providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to implore His protection and favor; and whereas both Houses of Congress have, by their joint committee, requested me “to recommend to the people of the United States a day of public thanksgiving and prayer, to be observed by acknowledging with grateful hearts the many and signal favors of Almighty God, especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.”

Now, therefore, I do recommend and assign Thursday, the 26th day of November next, to be devoted by the people of these States to the service of that great and glorious Being who is the beneficent author of all the good that was, that is, or that will be; that we may then all unite in rendering unto Him our sincere and humble thanks for His kind care and protection of the people of this country previous to their becoming a nation; for the signal and manifold mercies and the favorable interpositions of His providence in the course and conclusion of the late war; for the great degree of tranquility, union, and plenty which we have since enjoyed; for the peaceable and rational manner in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national one now lately instituted; for the civil and religious liberty with which we are blessed, and the means we have of acquiring and diffusing useful knowledge; and, in general, for all the great and various favors which He has been pleased to confer upon us.

 

And also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations, and beseech Him to pardon our national and other transgressions; to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually; to render our National Government a blessing to all the people by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed; to protect and guide all sovereigns and nations (especially such as have shown kindness to us), and to bless them with good governments, peace, and concord; to promote the knowledge and practice of true religion and virtue, and the increase of science among them and us; and, generally, to grant unto all mankind such a degree of temporal prosperity as He alone knows to be best.
Given under my hand, at the city of New York, the third day of October, in the year of our Lord one thousand seven hundred and eighty-nine.

G. Washington.

 

 

Why Hebrew?, Part Three: Hebrew Competes With Greek

Read Part One Here

Read Part Two Here

Competing Features

Now, consider possible ways in which Hebrew will compete with the Greek heritage, and vie for the dominant eye. For some things there cannot be two masters; one, and only one, must be granted superiority.

In The Republic, Plato identified three classes of citizens in his ideal society:

1) the merchants and artisans, or the makers of the marketplace,

2) the soldiers and defenders of the civil order, or the doers of the community, and

3) the guardians and philosopher-kings, or the elite knowers, the final class held in highest esteem.

This implicit and pervasive ideal permeates our modern schooling. Bestowing of awards, giving scholastic grades, and granting degrees celebrate the accomplished knowers; while the makers are similarly rewarded in the marketplace for bottom-line results and net profits. Pragmatism reigns supreme.

Well, what of the doers—those who serve and protect?

Knowing, making, and doing are important in every society and culture. It may be tempting to declare them all of equal importance, but not so. Education is vastly different for one who emphasizes knowing or making, rather than doing. Knowers and makers seek to build monuments. Doers seek to build community.

There is a story timelessly fostered in human culture: Man is born, nurtured, and raised in a safe place…his home, his place of origin, his point of departure. As man grows the time eventually arrives when he must leave his home and venture out to make his way in the world, to embark on a journey.

He seeks a gift with the intent to find it and bring it back home to share with others. The journey is risky. The unknown must be faced and fear must be conquered. Timely help arrives along the way, the gift is acquired, and the return trip is endured.

He returns a changed man. This is an adventure, an adventure in learning and refining. To miss the journey is to live a life unfulfilled.

This quest narrative is pervasive. It is easily recognized in almost any culture from primitives to our “modern” societies. However, there are two very different versions of this story. One version is clearly Greek. It is the path of the hero’s journey. The other is Hebrew.

It communicates a completely different set of values. The Hebrew is a pilgrim, a stranger in a strange land seeking to find the way home. The Greek hero is embodied in the image of the lonely individual. Odysseus, Promethius, and Achilles come to mind.

The hero’s journey is generally characterized by reckless courage, cleverness, and individual ability, with a defiant attitude—a chip on the shoulder. Success lies in finding a way against all odds to gain the prize and return as victor. Requiring no stretch of the imagination, this pattern is clearly seen in our modern race to self-fulfillment.

Any barriers standing in the way of our achieving personal power, recognition, and wealth must be stepped on, blasted through, around or over…at any cost. Intellect, heroism, competition, and perfection are all part of the game.

The Hebrew path, in contrast, is a search for and a response to a calling—a personal mission of service. The pilgrim’s journey is characterized by very different qualities than those exhibited by the classic hero. The dominant paradigm is not the lonely, masculine hero, but marriage—man and woman standing side by side.

Think of Adam and Eve, Abraham and Sarah, Isaac and Rebecca, Jacob and Rachel: two people working together to somehow survive the journey and pass the test.

Marriage as a metaphor is repeatedly used by the prophets to convey God’s love and concern for his people. He loves them passionately, is jealous of and hurt by them, yet always faithful to the covenant.

Mission, submission, and commission are keywords. The strength to endure the journey is found in voluntarily submitting to God and relying on His timely directions. Power, glory, and recognition are deferred.

Contribution, rather than achievement is the desired end; rendering humble service, rather than public recognition. These two different views of the human journey foster very different forms of education.

They foster different values and create different types of societies.

Why study Hebrew?

The 22 characters of the Hebrew alphabet are consonants. There are no vowels, per se. Vowel sounds are indicated by small marks above and below the text to aid in pronunciation.

Unlike English, which is a very literal language, each character can be thought of as having multiple dimensions.

Each character not only has a corresponding sound (b, g, d, etc.), it is also a pictograph (ox, house, door, etc.), has a numerical equivalent (1, 20, 100, etc.), and an associated set of mystic symbols from the Kabbalic tradition.

This means that the same passage in Torah can be read and interpreted differently, according to which dimension of the character is applied. It could be read literally one time and then read as a series of numbers the next.

Some Jewish traditions have spent hundreds of years manipulating characters through gemetria, notarikon, and temurah, seeking for esoteric meanings in the text.

Unlike English, one can rearrange the characters in a Hebrew word and still end up with a sensible word or phrase.

Granted, this practice is somewhat controversial. Are there really hidden truths to be found in the scrambling and unscrambling of letters? Maybe. Maybe not.

The real value of the exercise is to train the mind to read between the lines…to seek meaning beyond the literal reading of a classic work. What are the implicit assumptions?

What general principles can be extracted? Are there answers to contemporary challenges lying in wait, ready to be discovered and applied?

With practice, one can begin to see lessons in forms of free government in Genesis, in just and equitable law in Exodus, in prosperity economics in Leviticus, in administration and leadership in Numbers, and in family, community, and local government in Deuteronomy.

I study Hebrew to remember.

Remember to experience life, not just observe its passing.

Remember the beauty that lies beyond appearance.

Remember humility, while striving for nobility.

Remember to hear and feel in the quest to see the truth.

Remember to be, in the journey to become.

Remember to do rightly, while seeking to know rightly.

I study Hebrew because it demands I make a choice:

1) What is the primary end, or purpose, of my education: to know, to make, or to do?

2) Which path will I follow, that of the hero or that of the pilgrim?

Allow me to conclude by returning to Monticello College. Why teach Hebrew? If Greek is the language of knowledge and Latin is the language of power, of what is the language of Hebrew?

Preserved in Exodus is the great liberation epic, the story of a people freed from the bonds of slavery. In the backlash of the revolution against Britain, Hebrew was proposed as a replacement for English as the official language of the new American nation. Hebrew was once considered a cornerstone of liberal education.

Newly founded Ivy League schools required Hebrew of incoming freshmen and it was heard during annual commencement addresses.

The foundation of the “greatest experiment in freedom” in the history of the world was laid by a generation who were Hebrew literate. Hebrew is the language of liberty. In its truest form, liberty encompasses both the knowledge of the Greeks and the power of the Latins. To knowledge it adds the wisdom of right action.

For power it reveals the crucial, and oft misunderstood, distinction from force.

The mission of Monticello College is to foster self-sacrifice, induce moral character, emulate courage and foresight, and guard the principles of liberty. To this end, our students rely on the guiding hand of Hebrew.

For New American Founders, the Torah returns to take its place as a crucial part of the curriculum…and Hebrew is its language.

Suggested Reading:

The Old Testament

Great Books of the Western World, Vols. 4-11 (The “Greeks”)

Great Books of the Western World, Vols. 12-15, 18-21, 23 (The “Latins”)

Learn to Read Biblical Hebrew by Jeff A. Benner

Hebrew Thought Compared with Greek by Thorleif Boman

Does Anybody Understand This Stuff?, Part One: Deflation

 

Read Part Two Here

This is one of several blogs in a series called Does Anybody Understand this stuff?, concerning economics and our future. There is no way to honor the blogging rule of 600 word posts when we are talking about the economy, so I will try to keep them short but no promises.  I am not an economist, but as a serious student of cycles and history, I spend a lot of time trying to figure this all out.  Below is a interesting discussion on deflation and Austrian Economics.

By the way, I think Austrian Economics are the only real answer even if this author doesn’t. Governments are notorious for expanding, prolonging and deepening economic problems either by trying to stretch their economic resources to engaging in more spending or by trying to diminish short term effects of natural economic cycling.

I WANT TO POINT OUT VERY STRONGLY HERE THAT THE ARTICLE BELOW IS BASED ON THE CONCEPT THAT A DEBT ECONOMY IS A GOOD THING.  HE NEVER ADDRESSES WHAT WOULD HAPPEN IF THE GOVERNMENT STAYED OUT OF THE WAY, OR IF THE FEDERAL RESERVE WAS NOT IN CHARGE OF THE MONETARY SYSTEM, OR IF FAMILIES WERE MORE SELF-RELIANT. IT ALL DEPENDS ON WHETHER YOU ARE TRYING TO MAKE A CURRENT UNSUSTAINABLE SYSTEM WORK OR IF YOU ARE CONSIDERING ALTERNATIVES.

The only reason I have begun this series with this article is to give you a sense of the level of complication that has been brought to the economy as a means of convincing you to not even try to understand it.  When you reach that level of frustration, just move on to Part Two.

I borrowed this discussion entirely from  Furry Brown Dog

 

Austrian economics and the fallacy of deflation

with 17 comments

Recently I’ve been engaged in an online discussion with Christopher Pang of the New Asia Republic here. Christopher wrote an article on some supposed economic myths and his attempts to debunk them. My comments on his stand and opinion may be read over there. Personally I feel that much of it is heterodox Austrian economics which is questionable theory. As I and another commentator Fox have said, Austrian economics conflates between consumer price inflation and monetary inflation, the former being a general increase in consumer prices but the latter being an increase in the money supply. But here I would like to address one particular claim, that deflation might be a good thing. This is a favourite talking point of Austrians which comes up quite often so it’s worth devoting an entire post to debunking that argument.

According to the Austrians, deflation is not necessarily a bad thing. Deflation is defined as a fall in the overall level of prices in the economy, generally a fall in the price of a consumer basket of goods/services tracked. Intuitively it may be a good thing because it helps to lower prices and wages until they become affordable again. This runs counter to what is normally understood in everyday conversational economics and introductory courses. Personally I am of the opinion that in general, falling prices across the board are a bad sign, but this statement requires some clarification and qualification.

 

To understand why deflation is normally thought of as being undesirable, here’s the standard explanation by Nobel Prize winning liberal economist Paul Krugman:

So first of all: when people expect falling prices, they become less willing to spend, and in particular less willing to borrow. After all, when prices are falling, just sitting on cash becomes an investment with a positive real yield – Japanese bank deposits are a really good deal compared with those in America — and anyone considering borrowing, even for a productive investment, has to take account of the fact that the loan will have to repaid in dollars that are worth more than the dollars you borrowed.

A second effect: even aside from expectations of future deflation, falling prices worsen the position of debtors, by increasing the real burden of their debts. Now, you might think this is a zero-sum affair, since creditors experience a corresponding gain. But as Irving Fisher pointed out long ago (pdf), debtors are likely to be forced to cut their spending when their debt burden rises, while creditors aren’t likely to increase their spending by the same amount.

Finally, in a deflationary economy, wages as well as prices often have to fall – and it’s a fact of life that it’s very hard to cut nominal wages — there’s downward nominal wage rigidity. What this means is that in general economies don’t manage to have falling wages unless they also have mass unemployment, so that workers are desperate enough to accept those wage declines. See Estonia and Latvia, cases of.

Sounds persuasive right? But here’s what the Austrians say. They claim it isn’t bad when prices fall, because falling prices are observed in the computer and technology industry. While the personal computer used to costabout $3,000 in the US back in 1982, today’s Windows-compatible PC prices are typically much cheaper, at about $600 for the cheapest basic ones. The computer industry has gone from strength to strength and has experienced nothing of the kind of economic disaster so often warned about when prices decline.

Secondly, to quote from a Austrian rebuttal the world has seen falling prices, most notably during the Second Industrial Revolution during a period of economic prosperity:

For example, both the U.S. and Germany enjoyed very solid growth rates at the end of the 19th century, when the price level fell in both countries during more than two decades. In that period, money wage rates remained by and large stable, but incomes effectively increased in real terms because the same amount of money could buy ever more consumers’ goods. So beneficial was this deflationary period for the broad masses that it came to the first great crisis of socialist theory, which had predicted the exact opposite outcome of unbridled capitalism. Eduard Bernstein and other revisionists appeared and made the case for a modified socialism. Today we are in dire need of some revisionism too – deflation revisionism that is.

Is this really true? A commentator pointed out that prior to 1913 there was no CPI data for the US, so the claim can’t quite be verified using official statistics. Secondly what matters is that the fall in prices are prices tracked by the basket of consumer goods, rather than other goods which may not be purchased by consumers. But more importantly, the fatal flaw in the Austrian argument that deflation may be a positive thing lies in a failure to distinguish between different factors behind falling prices. While deflation is more commonly understood as falling prices it’s important to understand that two distinct economic causes can have the same effect. Economist Nouriel Roubini, one of the few economists to have accurately forecast the economic crisiselaborates why in a video here.

Deflation more than just falling prices

I don’t have a transcript but the point Roubini was making was that if falling prices are a consequence of technological advancement and increased productivity (as was the case during the 2nd Industrial Revolution), they are a good thing, but if they are due to the fact that consumers are holding off purchases because of declining wage levels or lost jobs (eg. Great Depression, Japan’s lost decade, America 2008-?), we have a negative situation. Why is this distinction important despite the fact that in both cases, falling prices are the consequence?

To understand this in introductory economics under the assumption of perfect competition, falling prices due to technological advancement and productivity corresponds to a right-ward shift of the supply curve of the goods market, whereas if deflation is the result of withheld consumer spending, this means that the demand curve shifts to the left, which also results in lower prices. Why should the former be beneficial to the economy while the latter be disastrous? I would argue the difference that matters is because in the former case, though prices are lower the cost of producing goods are lower as well. Unlike in the latter case where decreased consumer spending is depressing prices, there’s still an increase in output. By comparison, in the latter destructive case of falling prices, output falls unreservedly.

To take the widely cited example of the computer industry, even though computer prices have fallen drastically since thirty years ago, the total annual number of computers manufactured and sold have not fallen. Similarly, though I have not actually searched for data on this, it is likely that despite the fall in average unit prices of steel, industrial engines and other industrial produce have all increased in output. Contrast this with the great contraction in output as tracked by GDP during the Great Depression, and much of the Western world today and you’ll see that falling prices are typically not accompanied by huge increase in output whether measured in real or nominal terms. Instead, falling prices are seen together with rising unemployment, cuts in wages and declining GDP.

Hence we see from the above explanation that the Austrian rebuttal fails to take into account the broader economic picture. Falling prices are harmful if they also imply falling wages, which leads to decreased consumer spending, causing prices to fall again in a destructive spiral. See here also for a much better written article on the difference between the two and why deflation is bad.

Does this mean that the Austrians do not understand the difference between the two? I was about to conclude that way, but happen to chance upon an article by a popular Austrian website where the difference is clearly explained:

What needs to be realized is that there are two distinct causes of generally falling prices. One is the increase in production and supply, which should never, never be confused with deflation, depression, or poverty. The other is a decrease in the quantity of money and or volume of spending in the economic systemFalling prices is the only effect that they have in common. They differ profoundly with respect to their other effects.[1]

For example, if falling prices result from the fact that while the quantity of money and volume of spending in the economic system are rising at a two percent annual rate, production and supply are rising at a three percent annual rate, the average seller in the economic system is in the position of having three percent more goods to sell at prices that are only one percent lower. His sales revenues will be two percent higher, and that is what counts for his nominal profits and his ability to repay debts. His profits will be higher and his ability to repay debt will be greater. There are lower prices here, but absolutely no deflation.

What wipes out profits and makes debt repayment more difficult is not falling prices but monetary contraction, i.e., the reduction in the quantity of money and or volume of spending in the economic system. This is what serves to reduce sales revenues, and, in the face of costs determined on the basis of prior outlays of money, causes a corresponding reduction in profits. It is also what makes debt payment more difficult, in that there is simply less money available to be earned and thus available to be used for the repayment of debts. It is monetary contraction, and monetary contraction alone, which should be called deflation.

The case is different when the need for the fall in prices is caused by monetary contraction. In this case, the failure of prices to fall, in the face of the anticipation that they will fall, to the extent necessary to clear the market of unsold supplies of goods and labor, leads to a speculative postponement of purchases, which increases the pressure on prices to fall.

Deflation, which, it cannot be repeated too often, means monetary contraction, not falling prices, is at best in the category of a pain to be endured only in order to avoid greater pain later on. It should never be, and virtually never is, regarded as any kind of positive in its own right.

A few things to note. Unlike the quick and misleading rebuttal, the author acknowledges some key points about deflation in general. Namely, that falling price levels due to decreased spending will make debt much more difficult to repay (resulting in bankruptcies), that a deflationary spiral may result from it, that it’s traditionally accompanied by massive unemployment or cuts in working hours and pay. In other words, deflation should never be seen as a good thing but at best a necessary pain to be endured sooner so as to avoid even worse future economic suffering. In the end however, while there is much to commend the Austrian economics professor for acknowledging these crucial facts the economist also seems to think there should be some magical level prices would have to fall to before the economy can pick up again. As pointed out in a reply to Christopher, this is wishful thinking:

You are arguing from the perspective of an economy which is already at potential output. This is not the case for the US or much of Europe now. In the US, there are five unemployed persons to every job vacancy, which means that if every job vacancy is somehow miraculously filled 80% of the unemployment problem would still be there. The entire argument about crowding out works only when you have limited resources and when there is demand for it but right now there’s only slack. I hope you recognise that deflation is self-reinforcing, falling prices only make consumers hold back purchases in anticipation of further price declines; there isn’t any magical level prices would have to fall back to before firms and businesses suddenly decide to invest and hire. Inflation on the other hand, is what makes it unprofitable to sit on cash. Expectations of future inflation would make businesses and consumers do something with idle cash instead of just sitting on them. This is something Greg Mankiw pointed out in an op-ed last year. Raising inflation expectations sharply might be a way of jolting the moribund economy.

In other words, while Austrians assert that while prices have to fall, they have not told us explicitly how much prices have to decline before the economy picks up again. For example, prices in Japan today are actually lower than they are in 1989 (a somewhat amazing fact once you consider that every other part of the world has only seen higher prices), and in return Austrians have claimed that the reason why Japan hasn’t boomed is because prices haven’t fallen enough yet. At the moment, Christopher has yet to address most of the rebuttals made to his replies. It’s somewhat regrettable to see that New Asia Republic host articles such as Christopher Pang’s economic myths which themselves are really nothing more than unsubstantiated and debunked economic fallacies. At the same time they’re a good thing because it forces laypersons such as us to clarify and nail down exactly what is meant and implied when we use certain terms such as inflation/deflation.

Update: To be fair to Christopher, I realise that it’s more accurate to say that he hasn’t addressed the arguments yet rather than because he doesn’t bother to. My apologies to Christopher for sounding extremely rude and discourteous.

Do the Austrians offer any lessons?

Now despite what I’ve written above many will continue to point to the fact that the Austrians have a good explanation of recession busts and economic booms, the Austrian business cycle theory. These same folks are fond of pointing out that the monetarists and (Neo/Post/New)-Keynesians on the other hand can’t explain why booms and busts occur. While I agree that contemporary economics (though be warned that as a layperson I might be completely mistaken) can’t explain why both booms and busts occur, the idea behind a credit surge and bust coupled with speculation and market irrationality isn’t unique to Austrian economics.  As Professor Krugman explains in a new Voxeu.org paper, non-Austrian economist Hyman Minsky spent much of his professional life developing theories of speculative bubbles, credit models linked with financial instability; which sounds much like what we’ve seen the past few years:

The current preoccupation with debt harks back to a long tradition in economic analysis, from Fisher’s (1933) theory of debt deflation to Minsky’s (1986) back-in-vogue work on financial instability to Koo’s (2008) concept of balance-sheet recessions. Yet despite the prominence of debt in popular discussion of our current economic difficulties and the long tradition of invoking debt as a key factor in major economic contractions, there is a surprising lack of models – especially models of monetary and fiscal policy – of economic policy that correspond at all closely to the concerns about debt that dominate practical discourse.

We envision an economy very much along the lines of standard New Keynesian models – but instead of thinking in terms of a representative agent, we imagine that there are two kinds of people, “patient” and “impatient”; the impatient borrow from the patient. There is, however, a limit on any individual’s debt, implicitly set by views about how much leverage is safe.

We can then model a crisis like the one we now face as the result of a “deleveraging shock.” For whatever reason, there is a sudden downward revision of acceptable debt levels – a “Minsky moment.” This forces debtors to sharply reduce their spending. If the economy is to avoid a slump, other agents must be induced to spend more, say by a fall in interest rates. But if the deleveraging shock is severe enough, even a zero interest rate may not be low enough. So a large deleveraging shock can easily push the economy into a liquidity trap.

Krugman wasn’t alone in noticing that Minsky’s work of the 1960s and 1970s offered a promising non-Austrian theoretical framework from which more rigorous and prescriptive economic theories and policies may be formulated. Both Tyler Cowen and Rajiv Sethi have acknowledged this as well. In addition Krugman has an additional post on that here.

In addition I argue that although it is admissible that current prevailing economic orthodoxy does not offer good theoretical and model explanations of the causes of the economic crisis as well as recommendations, Austrian economics does not appear to be the way forward. At the heart of Austrian theory lies the assumption that the free markets must be allowed to work their magic, outside of any form of government interference whether it be the open market operations of the central bank or any fiscal policy apart from cutting taxes. Minsky’s theories on the other hand, centre around an explicit distrust of the efficiency of the free markets which he characterises as the “financial instability hypothesis”, arguing that left unchecked, financial institutions are no more rational than gambling dens driven by Keynesian “animal spirits”, in stark contrast with the efficient market hypothesis:

Minsky’s model of the credit system, which he dubbed the “financial instability hypothesis” (FIH),[5]incorporated many ideas already circulated by John Stuart MillAlfred MarshallKnut WicksellandIrving Fisher.[6] “A fundamental characteristic of our economy,” Minsky wrote in 1974, “is that the financial system swings between robustness and fragility and these swings are an integral part of the process that generates business cycles.”[7]

Disagreeing with many mainstream economists of the day, he argued that these swings, and the booms and busts that can accompany them, are inevitable in a so-called free market economy – unless government steps in to control them, through regulationcentral bank action and other tools. Such mechanisms did in fact come into existence in response to crises such as the Panic of 1907and the Great Depression. Minsky opposed the deregulation that characterized the 1980s.

Personally I would say ignore the Austrians. Once upon a time it could be said the Austrians were ahead of everyone else in economics when they came up with their business cycle theories in the 1920s, but that was then. They have not progressed in any way since then. On this point John Quiggin has an excellent post on an overview of Austrian theory and why it shouldn’t be taken seriously here.

Read Part Two Here

Why the Liberal Arts, Why Monticello, and Why the Outdoors?

Contributing author Joelle Mancuso of Simi Valley, CA    9/2/10

Imagine a liberal arts education as you would a physical training program. The program you use, the tools that are engaged and the environment you utilize will determine if you become fit or remain idle.

A college that is dedicated to greatness, a curriculum that engages with the greatest minds of western civilization, and an environment that inspires the soul is the surest way to ultimate fitness.

A mind that is not asked to work is very much like a body that is slow to stand up and eager to lay down. Changing a slothful intellect is very much like this and requires the commitment of the right action plan. The liberal arts furnishes this type of excellent program.

Just like beginning any new routine, at first, it is difficult and ideas are too complex to grasp but as you begin engaging regularly, the habits of attention, concentration and your ability to make connections become easier.

A lap around the block with Plato may leave you out of breath, but the next day Socrates only leaves you mildly fatigued.  The next week you slip into Shakespeare with ease and lunge ahead with Locke and Montaigne.

By the end of the month you have several ‘exercise’ sessions under your belt and what was arduous at first is now energizing and familiar. Each successive workout session is suddenly performed faster and more easily.

According to Robert Hutchins:

The aim of liberal education is human excellence, both private and public (for man is a political animal). Its object is the excellence of man as man and man as citizen. It regards man as an end, not as a means; and it regards the ends of life, and not the  means to it.

 

For this reason it is the education of free men. Other types of education or training treat men as means to some other end, or are at best concerned with the  means of life, with earning a living, and not with its ends.

 

The substance of liberal education appears to consist in the recognition of basic problems, in knowledge of distinctions and interrelations in subject matter, and in the comprehension of ideas.

Liberal education seeks to clarify the basic problems and to understand the way in which one problem bears upon another. It strives for a grasp of the methods by which solutions can be reached and the formulation of standards for testing solutions proposed.

 

The liberally educated man understands, for example, the relation between the problem of the immortality of the soul and the problem of the best form of government; he understands that the one problem cannot be solved by the same method as the other, and that the test that he will have to bring to bear upon solutions proposed differs from one problem to the other.

 

The method of liberal education is the liberal arts, and the result of liberal education is discipline in those arts. The liberal artist learns to read, write, speak, listen, understand, and think.

 

He learns to reckon, measure, and manipulate matter, quantity, and motion in order to predict, produce, and exchange. As we live in the tradition, whether we know it or not, so we are all liberal artists, whether we know it or not.

 

We all practice the liberal arts, well or badly, all the time every day. As we should understand the tradition as well as we can in order to understand ourselves, so we should be as good liberal artists as we can in order to become as fully human as we can.

 

The liberal arts are not merely indispensable; they are unavoidable. Nobody can decide for himself whether he is going to be a human being. The only question open to him is whether he will be an ignorant, undeveloped one or one who has sought to reach the highest point he is capable of attaining.

 

The question, in short, is whether he will be a poor liberal artist or a good one.

Excerpt taken from Robert Hutchins, The Great Conversation: The Substance of a Liberal Education (Chicago: William Benton in association with Encyclopedia Britannica, Inc. 1952) 3-5.

 

A liberal arts education allows you to see life as a whole instead of separate pieces.  A well-rounded education, a study of the whole range of knowledge, produces an intellectual landscape that allows you to see far and wide.  Allow me to use an analogy of exercise once again.  In order to be the most physically fit, one must engage all of his/her muscles in a multitude of exercises.

If an athlete only trains for one sport, they will be useless in most others.  Can you image Michael Phelps running the 40-yard dash or Serena Williams ice-skating?   Maybe you can because you assume that these incredibly fit individuals would be able to perform well in all sports?  The truth-be-told, most athletes cannot excel outside the sport in which they have trained.

This idea of training for one sport is called Exercise Specificity. The Specificity Principle simply states that exercising a certain body part or component of the body primarily develops that part. This Principle implies that, to become better at a particular exercise or skill, you must perform that exercise or skill.

A runner should train by running, a swimmer by swimming and a cyclist by cycling.  You may get a gold medal or a trophy for performing well in your specified sport but at what negative ‘cost’ to the overall health of your body?  Training for one sport is limiting and can produce all sorts of overuse injury.

If you take a look at Olympic gymnasts (or even your neighborhood kids taking gymnastics) you will notice all various wraps around injured muscles and joints.

The alternative to Exercise Specificity are the Principles of Cross Training.  The term Cross Training refers to a training routine that involves several different forms of exercise.  Cross Training is a beneficial training method for maintaining a high level of overall fitness.

The benefits of cross training include flexibility, higher levels of all-around conditioning, reduction of injuries, stamina, improved skill, agility and balance.

Cross Training also allows for adaptability to situations; if the pool is closed you can go for a hike.  Exploring and become proficient at many sports trains the body to be supple, diverse, and balanced.

Liberal arts are to education what Cross Training is to fitness.  Liberal arts allow us to exercise the mind in many areas of knowledge and mental creation. This type of intellectual development enlightens us to choose form over function or function over form, depending on the application.

It gives us perspective to determine when to whole-heartedly adopt the newest technology and when hold back and stay grounded in the old tried-and-true methods.

It helps us to develop insight to put relationships before things or possessions. It gives us a keen appreciate for what is truly worth working for, and sometimes fighting to protect.  It helps us quench our thirst and stay balanced in the pursuit of happiness.

Just as Cross Training allows for the achievement of overall health, Liberal Arts creates a stable, flexible, strong mind that is ready to engage with vigor and wisdom in any situation.

Why Monticello and the Outdoors? That question has an easy answer.  When I studied child development I learned, early on, that the body must perform a task physically before the brain can follow.

So in keeping with this concept, we must experience life in a physical way to make connections with our mental abilities.

Additionally, how one interacts within an outdoor situation/challenge is directly related to how one is capable/incapable of handling the rigors of mental engagement/life.  Nothing is more ‘telling’ of one’s agility and stamina indoors as an arduous activity outdoors with nature.

Monticello is the perfect environment for physical challenge.  I recently spent four days in Monticello.  I photographed 1,500 pictures and can’t believe how many different environments this area has to offer a body and mind that is looking for excellence.

The students privileged enough to attend this college will experience desert, forest, plains, wetlands and mountain areas.  Their bodies will be strengthened and empowered as they conquer strenuous, rocky trails and humbled as they face the daunting peaks of the Blue Mountains.  It’s an easy equation: Physical Strength + Mental Strength = Greatness.

Liberal Arts, Monticello and the Blue Mountains are the perfect combination for getting an education that provides all of the tools one needs for success in an uncertain future.

Visiting Monticello is not merely desirable, but necessary.

 

 

 

People Who Live at the End of Dirt Roads: Monte and Laura Bledsoe – Quail Hollow Farm, CSA

Six years ago one of my former mentees decided to try growing vegetables on a tiny patch of ground.  She thought, “what a nice little hobby I will create for myself.”  Her vision was to grow and provide a little food for a few other families.

She was not willing to commit to more than that and even considered that it may be no more than a passing fad.  Boy was she wrong!

On only 5 acres, Laura and Monte Bledsoe have created a thriving, prosperous, and sustainable paradise called Quail Hollow Farm.

They now have over 100 share-holders and provide some of the best looking and most flavorful fruits, vegetables and meat that you will ever experience.

 

For nearly a decade, they have been a beacon of light extolling the virtues of fresh, organic, sustainable food for families in their small community of Overton, Nevada.

When you hear them talk about our human connection to the earth and God’s nature, you immediately begin to feel their sense of purpose and passion – one could say it was their mission in life to provide life-giving food to everyone.

From a small idea of a few vegetables, they have expanded their vision to provide farm fresh food year round.

Some of the varieties of vegetables, fruits and meat they provide include:

Asparagus, lettuce, beets, kohlrabi, radishes, cilantro, cabbage, onions, spinach, swiss chard, chamomile, artichokes, basil,

cucumbers, tomatoes, grapes, squash, egg plant, peppers, calendula, watermelons, beans, pumpkins, corn, sweet potatoes,

pomegranates, etc.  Additionally, they offer eggs, free-range chicken, pork, honey and an

assortment of other delectables.

What Monte and Laura do is very dear to my heart.  As many of you know, we are building Monticello College to be a liberal arts school that provides an education and environment that rivals the best of 18th century America.

This includes growing, harvesting and consuming our own food.

I have a number of other articles that I am writing at the moment that are ahead of this one, but this is timely.  As an up and coming leader in this movement of back to basics and natural foods, Quail Hollow Farm recently came under fire.

During an event last week, the Nevada Health Department raided their farm and annual event without warrant or apparent cause.  I want you to know about this because this kind of thing is going to happen more and more if we do not take a stand and demand that it end.

You have to know Monte and Laura to understand the absurdity of the actions of this government agency.  These folks go out of their way to comply with rules and regulations.

It was an event for loved ones, friends, and family and it was held on their own land, serving food to clients who have been eating this same food for years.

Below is a letter from the Bledsoes following the event and a link to see videos that they had the presence of mind to tape in the heat of the moment.

 

 

 

To Monte and Laura:

You are not alone.

Monticello College and countless others support you in the fight

surrounding this most primal and fundamental

of all questions:

“Does an American have the right to choose what he or she will eat?”

You are in our prayers.

Your example will pave the way for our graduates.

 

 

 

Quail Hollow Farm Health Department Raid Videos

(The password is Rth-2034)

 

Letter From Monte and Laura Bledsoe Following the Raid

Dearest Guests,  (You have all become dear to us!)

What an evening we had this last Friday night!  It had all the makings of a really great novel; drama, suspense, anticipation, crisis, heroic efforts, villains and victors, resolution and a happy ending.

The evening was everything I had dreamed and hoped it would be.   The weather was perfect, the farm was filled with friends and guests roaming around talking about organic, sustainable farming practices.  Our young interns were teaching and sharing their passion for farming and their role in it.  (A high hope for our future!)  The pig didn’t get loose.  Our guests were excited to spend an evening together.  The food was prepared exquisitely.  The long dinner table, under the direction of dear friends, was absolutely stunningly beautiful.  The music was superb.   The stars were bright and life was really good.  And then, …

for a few moments, it felt like the rug was pulled out from underneath us and my wonderful world came crashing down.  As guests were mingling, finishing tours of the farm, and while the first course of the meal was being prepared and ready to be sent out, a Southern Nevada Health District employee came for an inspection.   Because this was a gathering of people invited to our farm for dinner I had no idea that the Health Department would become involved.  I received a phone call from them two days before the event informing me that because this was a “public event” (I would like to know what is the definition of “public” and private”) we would be required to apply for a “special use permit.”

If we did not do so immediately we would be charged a ridiculous fine.  Stunned, we immediately complied.  We were in the middle of our harvest day for our CSA shares, a very busy time for us, but Monte immediately left to comply with the demand and filled out the required paper work and paid for the fee.  (Did I mention that we live in Overton, nowhere near a Health Department office?)  Paper work now in order he was informed that we would not actually be given the permit until an inspector came to check it all out.  She came literally while our guests were arriving!

In order to overcome any trouble with the Health Department of cooking on the premises most of the food was prepared in a certified kitchen in Las Vegas and to further remove any doubt we rented a certified kitchen trailer to be here on the farm for the preparation of the meals.

The inspector, Mary Oaks, clearly not the one in charge of the inspection as she was constantly on the phone with her superior Susan  somebody  who was calling all the shots from who knows where.   Susan deemed our food unfit for consumption and demanded that we call off the event because:  1. Some of the prepared food packages did not have labels on them.  (The code actually allows for this if it is to be consumed within 72 hours.)  2.  Some of the meat was not USDA certified.  (Did I mention that this was a farm to fork meal?)  3.  Some of the food that was prepared in advance was not up to temperature at the time of inspection. (It was being prepared to be brought to proper temperature for serving when the inspection occurred.) 4.  Even the vegetables prepared in advance had to be thrown out because they were cut and were then considered a “bio-hazard”.

At this time Monte, trying to reason with Susan to find a possible solution for the problem, suggested turning this event from a “public” event to a “private” event by allowing the guests to become part of our farm club, thus eliminating any jurisdiction or responsibility on their part.  This idea infuriated Susan and threatened that if we did not comply the police would be called and personally escort our guests off the property.  This is not the vision of the evening we had in mind!  So regretfully, again we complied. The only way to keep our guests on the property was to destroy the food.

I can’t tell you how sick to my stomach I was watching that first dish of Mint Lamb Meatballs hit the bottom of the unsanitized trash can.  Here we were with guests who had paid in advance and had come from long distances away anticipating a wonderful dining experience, waiting for dinner while we were behind the kitchen curtain throwing it away!  I know of the hours and labor that went into the preparation of that food.  We asked the inspector if we could save the food for a private family event that we were having the next day.  (A personal family choice to use our own food.)  We were denied and was insulted that we would even consider endangering our families health.  I assured her that I had complete faith and trust in Giovanni our chef and the food that was prepared, (obviously, or I wouldn’t be wanting to serve it to our guests).

I then asked if we couldn’t feed the food to our “public guests” or even to our private family, then at least let us feed it to our pigs.  (I think it should be a criminal action to waste any resource of the land. Being dedicated to our organic farm, we are forever looking for good inputs into our compost and soil and good food that can be fed to our animals. The animals and compost pile always get our left over garden surplus and food.  We truly are trying to be as sustainable as possible.)  Again, a call to Susan and another negative response.

Okay, so let me get this right.  So the food that was raised here on our farm and selected and gathered from familiar local sources, cooked and prepared with skill and love was even unfit to feed to my pigs!? !  Who gave them the right to tell me what I feed my animals?  Not only were we denied the use of the food for any purpose, to ensure that it truly was unfit for feed of any kind we were again threatened with police action if we did not only throw the food in the trash, but then to add insult to injury, we were ordered to pour bleach on it.   Now the food is also unfit for compost as I would be negligent to allow any little critters to nibble on it while it was composting and ingest that bleach resulting in a horrible death.  Literally hundreds of pounds of food was good for nothing but adding to our ever increasing land fill!

At some point in all of this turmoil Monte reminded me that I had the emergency phone number for the Farm to Consumer Legal Defense Fund (FTCLDF)on our refrigerator.  I put it there never really believing that I would ever have to use it.   We became members of the Farm to Consumer Legal Defense Fund several years ago as a protection for us, but mostly to add support to other farmers battling against the oppressive legal actions taken against the small farmers trying to produce good wholesome food without government intrusion.

The local, sustainable food battle is being waged all across America!  May I mention that not one battle has been brought on because of any illness to the patrons of these farms!  The battles are started by government officials swooping down on farms and farmers like SWAT teams confiscating not only the wholesome food items produced but even their farm equipment!  Some of them actually wearing HAZMAT suits as if they were walking into a nuclear meltdown!  I have personally listened to some of their heart wrenching stories and have continued to follow them through the FTCLDF’s updates.   Well, I made the call, told my story and within a short period of time received a phone call back from the FTCLDF’s leading council Gary Cox.   When told the story he simply suggested that we apply our fundamental constitutional right to be protected against “unlawful search and seizure.”

I simply had to ask Mary two questions.  Do you have a search warrant?  Do you have an arrest warrant? With the answers being no I politely and very simply asked her to leave our property.  As simple as that!  She had no alternative, no higher power, no choice whatsoever but to now comply to my desire.  She left in a huff making a scene shouting that she was calling the police.  She left no paperwork, no Cease and Desist order, no record of any kind that implicated us for one thing, (we had complied to all their orders) only empty threats and a couple of trash cans full of defiled food.  I will get back to “the inspector” and her threats shortly.  Let’s get to where it really gets good.

While I am on the verge of a literal break down.  Monte and Gio get creative.  All right, we have just thrown all of this food away, we can’t do this, we can’t do that, what CAN we do?  Well, we have a vegetable farm and we do have fresh vegetables.  (By the way, we were denied even using our fresh vegetables until I informed our inspector that I do have a Producers Certificate from the Nevada Department of Agriculture allowing us to sell our vegetables and other farm products at the Farmers Market.  Much of our produce has gone to some of the very finest restaurants in Las Vegas and St. George.)  The wind taken out of the inspectors sails Gio and his crew got cookin’.

It just so happened that we had a cooled trailer full of vegetables ready to be taken to market the following day.  Monte hooked on to the trailer and backed it up right next to the kitchen.  Our interns who were there to greet and serve now got to work with lamp oil and began harvesting anew.  Knives were chopping, pots of pasta and rice from our food storage were steaming, our bonfire was now turned into a grill and literal miracles were happening before our eyes!

In the mean time, Monte and I had to break the news to our guests. We explained the situation, offered anyone interested a full refund, and told them that if they chose to stay their dinner was now literally being prepared fresh, as just now being harvested.  The reaction of our guests was the most sobering and inspirational experience of the evening.  In an instant we were bonded together.  They were of course out-raged at the lack of choice they were given in their meal.  Out-raged at the arrogance of coming to a farm dinner and being required to use only USDA (government inspected)meats.  Outraged at the heavy handedness of the Health Department into their lives.

Then there was the most tremendous outpouring of love and support.  One of our guests, Marty Keach, informed us that he was an attorney and as appalled as everyone else offered his support and council if need be, even if it be to the Supreme Court.  He was a great comfort in a tense time.

With their approval Giovanni and crew got cooking and the evening then truly began.   The atmosphere turned from tense and angry to loving and supportive.

As soon as I heard my brother Steve sit down and begin strumming his guitar I knew something special was happening.  Paid guests volunteered their services.  Chef Shawn Wallace, a guest, joined Gio and his team his knife flying through the eggplant and squash.  Wendy and Thierry Pressyler and so many that I am not even aware of, were helping to grill and transport dishes.  Jason and Chrissy Doolen offered to run quick errands.  Jeanne Frost, a server for the Wynn hotel, didn’t take a seat and began serving her fellow guests.

Before long we were seated at the beautiful table and the most incredible dishes began coming forth.  It was literally “loaves and fishes” appearing before our very eyes!  We broke bread together, we laughed, we talked, we shared stories, we came together in the most marvelous way.  Now this is what I had dreamed, only more marvelous than I could have ever imagined!  The sky being bright with glittering stars, we had the telescopes out and invited any guests who desired to look into our starry heaven.  While we were looking into the heavens, heaven was looking down upon us!

I can’t tell you the times I have felt the hand of providence helping us in the work of this farm.  As hard and demanding as this work is I KNOW that this is what we are meant to do.  I KNOW that it is imperative that we stand up for our food choices.  I KNOW that local, organic, sustainable food produced by ourselves or by small family, local farms is indispensible to the health and well being of our families and our communities now and in the future! If this work were not so vitally important, the “evil forces” would not be working so hard to pull it down.  We were victorious, we will be victorious, we must be!   Our grandchildren’s future is at stake!

Back to the inspector.  She did call the police.  You must remember that we live in a small town.  We know these officers.  They responded to the call dutifully but were desperately trying to figure out why they had been called.  Never in all of their experience had they ever received a call like this.  Mary, the inspector demanded that they give us a citation.  The officer in charge said that she was to give us the citation, she responded that no, they were to give us the citation, which they then asked her for what violation.

Even with the help of her superior on the phone she could not give them a reason.  They asked her to leave which she did.  The police were very kind and apologetic for the intrusion.  All of this was done without fanfare and out of sight of our guests.  The police officers are commended for their professionalism!

Now that we have come to the last chapter of our novel, I realize that it ends with a cliff-hanger.   As happy as the ending was, it isn’t “happily ever after” yet.  This will remain to be seen in the ensuing days, weeks and even years ahead.  Tom Collins, our County Commissioner, furious by the events that took place, having formerly been a board member for the Southern Nevada Health District is putting together a meeting with himself, the current board members and ourselves to make sense of all this mess.

As so many of you have related verbally and through emails your desire to help and be involved, we will keep you informed as events take place.  I feel that we have been compelled to truly become active participants in the ongoing battle over our food choices.  This is just one small incident that brings to our awareness how fragile our freedoms are.  We are now ready to join the fight!

We would encourage all of you who can to contribute and to become a member of the Farm to Consumer Legal Defense Fund.  They are not only fighting for the farmers, they are fighting for the consumers to have the right to choose.  You can find them at ftcldf.org.

As I close, I am reminded of the passage written so forcefully by Thomas Jefferson in the Declaration of Independence:    “He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people, and eat out their substance.”  The same battle continues.   I pray the result of the battle will be the same, that we have been “endowed by our Creator with … life and liberty” .

We love you all, and thank you with all our souls for your continued love and support!  We will stay in touch.

With warmest wishes for you and your families,

Monte and Laura Bledsoe

Written from Quail Hollow Farm

October 24, 2011