Capitalism is 3rd World’s Safety Net

Monday, March 16, 2009 \PM\.\Mon\.

While Americans weather layoffs and watch their 401ks dwindle, the developing nations in which many of our products originate are being hit even harder by the global downturn. Many of these developing nations have virtually no social safety net, and job loss can be crippling. However, as jobs manufacturing good to be sold to the West dry up, many are turning to the “informal economy” the open air markets, street vendors, and in-home manufacturers which make up more than half the economy in countries ranging from India and Mexico to much of sub-Saharan Africa.

The informal economy consists of cash and in-kind transactions and its practitioners do not pay taxes, hold licenses, or obey regulations. Pay is simply however much money is made, and there are no benefits. Because informal businessmen pay no taxes and work on a cash only basis (they seldom capitalize through loans, nor do they put savings into banks) economists have generally seen them as a drag on the economy. But as export-based jobs dry up, it provides a fallback safety net for many workers:

pilaporn_jaksuratUntil late December, Pilaporn Jaksurat, 33, was working full-time on a cotton spinning machine in a textile mill in Bangkok. She made about $7 a day and her benefits included bonuses of $30 a month for good attendance and a severance package worth about $800.

Then she was laid off when her factory, which sells fabric to clothing manufacturers in Europe, said it had to cut costs to cope with the global economic crisis.

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Stem Cells and Sophistry

Monday, March 16, 2009 \PM\.\Mon\.

p-j-orourke

P.J. O’Rourke is on fire today at the Weekly Standard, taking the President to task for the reasons he gave for allowing federal funds for embryonic stem cell research.

Update: Both Ed Morrissey at Hot Air and the Anchoress have good takes on P.J. O’Rourke’s column.


Res & Explicatio for A.D. 3-16-2009

Monday, March 16, 2009 \AM\.\Mon\.

Salvete AC readers!

Here are today’s Top Picks in the Catholic world:

1. The Indian Catholic is reporting that Pope Benedict’s next encyclical will be on the global meltdown.

The Pope’s message fundamentally will be one of hope… …it will be filled also with truth about how false economic principles and moral ideals can lead mankind toward the abyss…”

For the link click here.

2. Communion in the hand, this recent innovation, is dissected by Fr. John Zuhlsdorf on his blog.  Fr. Z wants us to consider the following:

Consider the lack of care with which many receive, how they move the Host around and handle it.

Consider that often there is a more or less properly prepared EMHC also handling the Host.

Consider the condition of the skin of the palm.

Consider the few seconds after a person transfers the Host from palm to mouth.

Consider that the Host has been in contact not only with the palm, but the fingers of the other hand.

For the link click here.

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Religion, Culture, & Politics

Monday, March 16, 2009 \AM\.\Mon\.

R.R. Reno reflecting on Fr. Neuhaus:

I have many fond memories of him, but many important and influential ones, as well. During the fall of 2006, I was in his office, expressing my anxious agitation about the upcoming congressional elections. I worried over the loss of  a Republican majority, linking my political concerns to the future of the pro-life cause, the dangers of unfettered bioengineering, and so forth. He sat back in his chair, puffing on his cigar while I prattled on. Then, with a wave of his hand, he dismissed my anxieties with a simple observation:

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Tiller the Killer Goes on Trial

Monday, March 16, 2009 \AM\.\Mon\.

sebelius-and-tiller1

Tiller the Killer, a/k/a George Tiller, the foremost practitioner in this country of the disguised infanticide known as late term abortion, goes on trial today.  The attorneys for Tiller the Killer have attempted every legal maneuver known to man to stop this trial, but to no avail.

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