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Thursday, November 27, 2014

Thanksgiving Day Proclamation by President George Washington

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 enable 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 3d day of October, A.D. 1789. 

Tuesday, November 25, 2014

Effects of the Affordable Care Act on Economic Productivity

CASEY MULLIGAN, a professor of economics at the University of Chicago, received his Ph.D. in economics from the University of Chicago in 1993. He has been a visiting professor at Harvard University and Clemson University, and is affiliated with the National Bureau of Economic Research, the George J. Stigler Center for the Study of the Economy and the State, and the Population Research Center. He has written for the Chicago Tribune, the Chicago Sun-Times, the New York Times, and the Wall Street Journal, and is the author of three books, including Side Effects: The Economic Consequences of the Health Reform.

The following is adapted from a speech by Casey Mulligan delivered on October 24, 2014, at a Hillsdale College Free Market Forum in Indianapolis, Indiana.

The topic of my talk today is the economic side effects of the Affordable Care Act (ACA), sometimes referred to as Obamacare. Since most of the economy has to do with labor and work, that’s where I’ll start. But, first a caveat. I’m an economist, and I’m going to talk about some parts of this complex law that have an impact on the labor market. Other parts of it relate to health and medicine, and because I’m not a doctor or a biologist, I’m not going to speak to those parts. From an economic or labor-market perspective, I’m going to explain how the costs of the ACA outweigh its benefits. But I can’t measure or estimate its effects on health care. I leave that to others.

Monday, November 24, 2014

Daniel Hannan: What Does It Mean to Be Conservative?

By Daniel Hannan

The cleverest living Englishman
Some years ago, while canvassing for his wife in a local election in Wiltshire, Roger Scruton was asked on the doorstep, “What is conservatism, anyway?” The voter had unwittingly put the question to the man who, more than any other, has defined what conservatism is; the man who has as good a claim as any to be the cleverest living Englishman.

If he were on the Left, Roger Scruton would be recognised as one of our towering public intellectuals; but it’s a peculiarity of our age that conservative thinkers occupy a space beyond the mental horizons of most commissioning editors. There will always be Rightist columnists of the Richard Littlejohn variety, I’m delighted to say; but a Rightist professor whose writings range from German philosophy to the oddities of common law, from religious art to country sports, is likely to be regarded as an eccentric class traitor.

Still, Roger will be read and remembered when many of the prominent literary figures of our day are footnotes – partly for the keenness of his intelligence and partly for the consistency of his vision, but mainly for the grandeur of his prose. He can ennoble almost any subject – economics, cooking, telephone boxes – by his gentle logic and his courteous insistence on treating readers as his intellectual equals.

Pope Francis Doesn't Really Understand This Economics Thing, Does He?

From Forbes
By Tim Worstall

Pope Francis has told us all that we’re really very naughty indeed to allow food to become a product like any other, a product in which people can speculate and profit. Which leads to a rather sad observation about Il Papa‘s understanding of basic economics: he doesn’t, essentially, he doesn’t understand basic economics. It is indeed an outrage that there are still 800 million or more of our fellow human beings who are malnourished. Appalling that while the world grows the calories to feed all not all get fed. But once we’ve noted those points, decided (as we damn well should) to do something about them, the interesting question becomes, well, what? At which point we might note that it’s the places with well functioning markets, subject to all that horrible speculation and profit making, that have the people who are not malnourished and not starving. Something Pope Francis might have considered before he said this