Bono on Capitalism

Nov 4, 2022

Happy Friday,

God is our refuge and strength, an ever-present help in trouble. Therefore we will not fear, though the earth give way and the mountains fall into the heart of the sea, though its waters roar and foam and the mountains quake with their surging.

Psalm 46

The Psalmist’s description of “mountains falling and oceans surging” could be mistaken for the front page of current newspapers. Which should provide us with hope and calm. Come what may, we need not fear. Instead, we are to trust, pray and let God worry. Of course, He will not.

Bono on Capitalism: Long time readers have heard me argue that capitalism shaped by Christian convictions and compassion is as good as we can hope for on this side of Genesis 3. In this NR piece, we learn that Bono now agrees.

Vocational Prayers: As part of There is Work to Be Done – the new sermon series at Christ Church – we are running a series of prayers for workers. Here are the prayers for those in financial services and justice.

Envy: Envy has no upsides, so I’m conflicted about recommending this piece by Arthur Brooks – the HBS professor of Leadership and Happiness. It’s on envy and I really wish I’d written it.

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Without Comment: 1) One out of every five polling places in the U.S. is a church; 2) The best predictor for how you voted in the last election is how close you live to an urban center; 3) 20% of the undergrads attending WashU in St. Louis come from families where their parents earn more than $650K per year; 4) Britain now has a Christian king, a Hindu prime minister, a Muslim mayor (of London), and a leader of the opposition who married into a Jewish family. And while we are on this, it’s worth noting that Rishi Sunak, the Hindu prime minister, is responsible for appointing bishops in the Church of England; 5) The number of recorded threats against members of Congress has increased more than tenfold since 2016; 6) As this chart shows, China’s birth rate has continued to plummet since it lifted the “one child” policy; and 7) For the first time on record, all five of the top “dead celebrities” each earned more than $100M in 2022: JRR Tolkien ($500M), Kobe ($400M), David Bowie ($250M), Elvis ($110M) and James Brown ($100M).

Note: As you vote, consider how important it is that we have leaders that aspire to bring out the best in their followers, not the worst. It is harder to inspire hope and sacrifice than it is fear and anger, but it is hope and sacrifice that we need.

The Podcast: I had a chance to interview Harold and Judy Smith on the loss of their son, Andrew, who died by suicide eighteen months ago at the age of forty. Our discussion ranges from grief and mental illness to parenting and how to help friends in a crisis.

Oops: A number commented on my comments on Tom Brady. About half pointed out that #12 already has seven  Super Bowl rings, not six as I suggested. One observed that was SEVEN more rings than Justin Fields and I have together. Tough crowd.

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Sotomayor on Thomas: Justice Sonia Sotomayor was recently asked how she maintains relationships with judges she disagrees with – Clarence Thomas, in particular. Here’s what she said: “I try to find the good in everybody. Because if I do they’re more willing to talk to me…and do it in a respectful way, where we can value each other. I have disagreed more with him than with any other justice. Which means we don’t come together on many cases. And yet I can tell you that I spend time with him, and in doing so I’ve learned that he is one of the few justices who knows practically everybody in our building. He knows their name, he knows the things about their life, what their family is suffering. He’ll tell me, ‘You know that that person’s wife is sick right now, or that person’s child is having difficulty.’ There’s no other justice who does that. I try, but he does it better. He cares about people. Now, he cares on legal issues differently. And he sees those legal issues much differently than I do. I tell people, you know, Clarence believes that, because he grew up very, very poor, that everyone is capable of picking themselves up by their bootstraps. I understand that some people can’t reach their bootstraps. That’s a fundamental difference in how we view what the law can or should or does do for people. But I can appreciate him.”

Word of the Week: This week’s nominations were all of a certain theme: 1) Triple-demic – a feared COVID, flu, RSV trifecta; 2 ) Polycrisis – historian Adam Tooze’s term to describe multiple, simultaneous systemic crises that intensify as they collide;  3) Pandemic-amnesty – Emily Oster’s suggestion that we all forgive and forget about what we said and did to one another during the pandemic; 4) Covid-Learning-Loss – a summary of many student’s experiences during school shutdowns; and 5) Permacrisis – Collins English Dictionary’s just revealed 2022 word of the year. It refers to “an extended period of instability and insecurity, especially one resulting from a series of catastrophic events.”  I am opting for a term that points to a different challenge: The Attention Economy – anything trying to capture our scarce attention. By the way, since others will be announcing their Word of the Year for 2022, it’s time to send in your guesses.  And in a preemptive move, I am guessing that next week’s WOTW will be election related. Ticket-splitting? Under-voting? Landslide?

Closing Prayer: O Lord, please accept my distractions, my fatigue, my irritations, and my faithless wanderings. You know me more deeply and fully than I know myself. You love me with a greater love than I can love myself. You even offer me more than I can desire. Look at me, see me in all my misery and inner confusions, and let me sense your presence in the midst of my turmoil…Take my tired body, my confused mind, and my restless soul into your arms and let me rest, simple quiet rest. Amen. (Henri Nouwen (1932 – 1996)

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