Inside NCR Why we are writing about
money
Readers may have noticed that
weve been keeping a watchful eye on money. Mostly a jaundiced eye,
Im afraid. Were not Forbes or Money magazine. These
and similar publications generally deal with money for its own sake -- money
per se, as we say. We at NCR, less acquainted with large gobs of the
stuff, are more concerned with what money does to real life.
Originally a brilliant invention -- it certainly beats huxtering
around potatoes or goatskins or shiny beads as mediums of exchange -- money
grew in sophistication as well as in its power over our lives until what was
meant to be a means became an end in itself. And a tantalizing end it has
become, though still useless for the long haul: Well-worn clichés such
as you cant take it with you or shrouds have no
pockets must mock the daily lives of the truly moneyed.
Anyway, variations on moneys manifestations and uses ebbed
and flowed for centuries, culminating only recently in the emergence of
capitalism. This conquest over all other ways of doing business was all the
sweeter for capitalists because it was seen to defeat communism on the
side.
Ive watched it only from a distance, so I find money really
hard to fathom. The difference between stocks and bonds, for example, baffles
me. But one thing seems clear to me: Capitalism doesnt work. Sure, it
makes some cats very fat. But if youre not rich, youre probably a
little poor or very poor, meaning that money is not, for you, fulfilling to any
satisfactory degree its purpose as a medium of exchange. No money means no
potatoes or goatskins, no Mercedes and maybe no bread or clean water or roof
over your head.
Its when you put it in the hands of big corporations, and
especially when the latter go international, that capitalism is hardest to
fathom. Thats when big-time operators get together with powerful and
motivated politicians and they work out ways to make major money, which sort of
automatically neuters it as a medium of exchange, which implies give and take.
It must worry corporations that soon the rest of us will have given all
weve got and they will have nothing more to take.
Our story (Making profit the worlds highest law) by Joe
Taglieri offers a startling picture of how a very small group of people can
dominate, through manipulation of money, vast influence and power, which in
turn engenders further money. Not to hurt anyones feelings, but this
capitalism is, almost by definition, heartless, its sole aim being to maximize
profits -- though kind people do at times break the rules by being kind.
The Multilateral Agreement on Investment treaty that Taglieri
writes about is devilishly cleverly conceived. It would place not only
individual citizens the world over but also national governments at the service
of big capitalists. Notice the clever use of the word
nondiscrimination. Who could be against nondiscrimination? Read
on.
As anyone can easily see, this manipulation of so many human
destinies gets me all hot and bothered.
Theres yet another wrinkle. Because most humans still suffer
from conscience or other niggling sensibilities, moral ballast must be brought
to bear on such lucrative schemes. Religion has, throughout history, both
placed moral restraints on greed and covered its behind when compliant
apologists were brought aboard. Now that fewer folks believe in really cogent
restraints such as hell, ethics is scrambling to get traction from
old-fashioned decency and generosity.
Apologists for capitalism are thus invaluable. NCRs
John Allen was, not so long ago, researching a Unocal pipeline project in Burma
where a notoriously repressive regime is in bed with big business at the
expense of its own citizens. When Allen raised the dread morality question, the
vice president for corporate relations at Unocal responded with relief: Let me
send you Michael Novaks Business as a Calling. And he did,
overnight.
Novak, no doubt a decent, thoughtful man, surely must have given
his book much deep thought. He surely must want what is best for everyone, the
poor as well as the rich. Hes also a smart man, though, and cant
help being aware that hes being used to promote the excesses -- as well
as the many admittedly worthy benefits -- of capitalism. Some of the chapter
headings of Business as a Calling read almost, in this context, like a
Steve Martin skit: Capitalism Is Better for the Poor,
Capitalism Reduces Envy and Dont Forget the Fun of
It! (the it, as far as I can figure, is business).
The present pope is less ardent about capitalism. Its
materialistic, consumeristic core is hard to defend in an era as enlightened as
ours. The popes sentiments -- which seem also to have been the sentiments
of Jesus of Nazareth -- are trickling down. Last weeks article by Dennis
Coday described church members in suffering Asia taking an unblinking look at
the depredations committed by international financial institutions.
All this is an area in which we at NCR are not as hip as
the money men and women. Still, we will do our best to monitor the phenomenon
of money, which is so central to the way nearly all humans relate to one
another.
The first few reactions to our
redesign are in. A mixed bag. The picture, so to speak, is complicated by the
fact that, through circumstances beyond our control, the National Catholic
Reporter in our masthead is in black for a few weeks before coming up a
beautiful blue. Were not doing this to tantalize you. Really! And, to
further test your mettle, the date was missing from last weeks front
page. Again, circumstances beyond our control. Look at the bright side: If you
preserve your copy, it could eventually be a collectors item. Please be
kind. Were a work in progress.
National Catholic Reporter, October 9,
1998
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