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Title of Nobility Clause
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Not to be confused with the unratified Titles of Nobility Amendment.
"Foreign Emoluments Clause" redirects here. For other uses, see Emoluments Clause.
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The Title of Nobility Clause is a provision in Article I, Section 9, Clause 8 of the United States Constitution,[1] that prohibits the federal government from granting titles of nobility, and restricts members of the government from receiving gifts, emoluments, offices or titles from foreign states without the consent of the United States Congress. Also known as the Emoluments Clause, it was designed to shield the republican character of the United States against so-called "corrupting foreign influences". This shield is reinforced by the corresponding prohibition on state titles of nobility in Article I, Section 10, and more generally by the Republican Guarantee Clause in Article IV, Section 4.[2]
Contents
[hide]
1 Text
2 History
3 Titles of nobility
3.1 President's title
3.2 Constitutional amendment concerning titles of nobility
4 Foreign emoluments
4.1 Presidential treatment of presents from foreign states
4.2 Armed services
5 References
6 Further reading
Text[edit]
No title of nobility shall be granted by the United States: and no person holding any office of profit or trust under them, shall, without the consent of the Congress, accept of any present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state.
History[edit]
The Framers' intentions for this clause were twofold: to prevent a society of nobility from being established in the United States, and to protect the republican forms of government from being influenced by other governments. In Federalist No. 22, Alexander Hamilton stated, "One of the weak sides of republics, among their numerous advantages, is that they afford too easy an inlet to foreign corruption." Therefore, to counter this "foreign corruption" the delegates at the Constitutional Convention worded the clause in such a way as to act as a catch-all for any attempts by foreign governments to influence state or municipal policies through gifts or titles.[3]
The Title of Nobility Clause is constitutionally unique in other respects. First, it is a "negative" clause—a restriction prohibiting the passage of legislation for a particular purpose. Such restrictions are unusual in that the Constitution has been historically interpreted to reflect specific (i.e., "positive") sources of power, relinquished by the states in their otherwise sovereign capacities.[4] Moreover, it is a negative clause without a positive converse. A common example of this is how the Commerce Clause represents the positive converse to the restrictions imposed by the Dormant (or "Negative") Commerce Clause. However, neither an express nor implied positive grant of authority exists as a balance against the restrictions imposed by the Title of Nobility Clause. For this reason, the clause was cited by Anti-Federalists who supported the adoption of a Bill of Rights. Richard Henry Lee warned that such distinctions were inherently dangerous under accepted principles of statutory construction, which would inevitably "give many general undefined powers to congress"[5] if left unchecked.
Why then by a negative clause, restrain congress from doing what it would have no power to do? This clause, then, must have no meaning, or imply, that were it omitted, congress would have the power in question, either upon the principle that some general words in the constitution may be so construed as to give it, or on the principle that congress possesses the powers not expressly reserved. But this clause was in the confederation, and is said to be introduced into the constitution from very great caution. Even a cautionary provision implies a doubt, at least, that it is necessary; and if so in this case, clearly it is also alike necessary in all similar ones.[6]
According to Lee, the true purpose of the clause was merely to protect popular tradition: "The fact appears to be, that the people in forming the confederation, and the convention ... acted naturally; they did not leave the point to be settled by general principles and logical inferences; but they settle the point in a few words, and all who read them at once understand them."[5] It was argued, therefore, that a Bill of Rights was needed to safeguard against the expansion of federal power beyond such limited purpose(s).
Titles of nobility[edit]
The issue of titles was of serious importance to the American Revolutionaries and the Framers of the Constitution. Some felt that titles of nobility had no place in an equal and just society because they clouded people's judgment. Thomas Paine, in a criticism on nobility in general, wrote:
Dignities and high sounding names have different effects on different beholders. The lustre of the Star and the title of My Lord, over-awe the superstitious vulgar, and forbid them to inquire into the character of the possessor: Nay more, they are, as it were, bewitched to admire in the great, the vices they would honestly condemn in themselves. This sacrifice of common sense is the certain badge which distinguishes slavery from freedom; for when men yield up the privilege of thinking, the last shadow of liberty quits the horizon.[7]
He felt that titles blinded people from seeing the true character of a person by providing titled individuals a lustre. Many Americans connected titles with the corruption that they had experienced from Great Britain,[8] while others, like Benjamin Franklin, did not have as negative a view of titles. He felt that if a title is ascending, that is, it is achieved through hard work during a person's lifetime, it is good because it encourages the title holder's posterity to aspire to achieve the same or greater title; however, Franklin commented, that if a title is descending, that is, it is passed down from the title holder to his posterity, then it is:
groundless and absurd, but often hurtful to that Posterity, since it is apt to make them proud, disdaining to be employ'd in useful Arts, and thence falling into Poverty, and all the Meannesses, Servility, and Wretchedness attending it; which is the present case with much of what is called the Noblesse in Europe.[9]
President's title[edit]
One of the first issues that the United States Senate dealt with was the title of president. Vice President John Adams called the senators' attention to this pressing procedural matter. Most senators were averse to calling the president anything that resembled the titles of European monarchs, yet John Adams proceeded to recommend the title: "His Highness, the President of the United States, and Protector of their Liberties," an attempt to imitate the titles of the British monarch: "By the Grace of God, of Great Britain, France and Ireland, King, Defender of the Faith, Prince-Elector of Hannover, Duke of Brunswick" and the French monarch: "By the Grace of God, Most Christian King of France and Navarre." Some senators favored "His Elective Majesty" or "His Excellency" (the latter of which would become the standard form of address for elected presidents of later republics). James Madison, a member of the House of Representatives, would have none of it. He declared that the pretentious European titles were ill suited for the "genius of the people" and "the nature of our Government." Washington became completely embarrassed with the topic and so the senators dropped it. From then on the president would simply be called the President of the United States or Mr. President, drawing a sharp distinction between American and European customs.[10]
Constitutional amendment concerning titles of nobility[edit]
Main article: Titles of Nobility Amendment
In 1810, Democratic–Republican Senator Philip Reed of Maryland[11] introduced a Constitutional amendment modifying the Title of Nobility Clause. Under the terms of this amendment any United States citizen who accepted, claimed, received or retained any title of nobility from a foreign government would be stripped of their U. S. citizenship. After being approved by the Senate on April 27, 1810, by a vote of 19–5[12] and the House of Representatives on May 1, 1810, by a vote of 87–3,[13] the amendment, titled "Article Thirteen", was sent to the state legislatures for ratification. On two occasions between 1812 and 1816 it was within two states of the number needed to become a valid part of the Constitution.[14] As Congress did not set a time limit for its ratification, the amendment is still technically pending before the states. Currently, ratification by an additional 26 states would be necessary for this amendment to be adopted.
Foreign emoluments[edit]
The prohibition against officers receiving a present or emolument is essentially an antibribery rule to prevent influence by a foreign power.[15] At the Virginia Ratifying Convention, Edmund Randolph, a delegate to the Constitutional Convention, identified the Clause as a key "provision against the danger ... of the president receiving emoluments from foreign powers."[16]
The Department of Justice Office of Legal Counsel has held
The language of the Emoluments Clause is both sweeping and unqualified. See 49 Comp. Gen. 819, 821 (1970) (the “drafters [of the Clause] intended the prohibition to have the broadest possible scope and applicability”). It prohibits those holding offices of profit or trust under the United States from accepting “any present, Emolument, Office, or Title, of any kind whatever” from “any . . . foreign State” unless Congress consents. U.S. Const, art. I, § 9, cl. 8 (emphasis added). . . . The decision whether to permit exceptions that qualify the Clause’s absolute prohibition or that temper any harshness it may cause is textually committed to Congress, which may give consent to the acceptance of offices or emoluments otherwise barred by the Clause.[17]
The word "emolument" has a broad meaning. At the time of the Founding, it meant "profit," "benefit," or "advantage" of any kind.[18] Because of the "sweeping and unqualified" nature of the constitutional prohibition, and in light of the more sophisticated understanding of conflicts of interest that developed after the Richard Nixon presidency, modern presidents have chosen to eliminate any risk of conflict of interest that may arise by choosing to vest their assets into a blind trust.[15] As the Office of Legal Counsel has held, the Constitution is violated when the holder of an Office of Profit or Trust, like the President,[19] receives money from a partnership or similar entity in which he has a stake, and the amount he receives is "a function of the amount paid to the [entity] by the foreign government."[20] This is because such a setup would allow the entity to "in effect be a conduit for that government," and so the government official would be exposed to possible "undue influence and corruption by [the] foreign government[]."[21] The Department of Defense has expressly held that "this same rationale applies to distributions from limited liability corporations." [22]
To that end, concerns have been expressed that the extensive business and real estate dealings of President Donald Trump, especially with respect to government agencies in other countries, may fall within the clause's scope,[15] but there is debate as to whether that is the case.[23][24] For example, in March of 2017, China provisionally granted 38 "Trump" trademarks scheduled to become permanent within 90 days.[25]
Presidential treatment of presents from foreign states[edit]
Foreign states often present the President of the United States with gifts. In order to comply with the Clause's prohibition on accepting presents from foreign governments, the President of the United States has traditionally sought permission from Congress to keep the present himself. Absent permission, the President will deposit the present with the Department of State. For example, Andrew Jackson sought permission from Congress to keep a gold medal presented by Simon Bolivar; Congress refused to grant consent, and so Jackson deposited the medal with the Department of State.[26] Martin Van Buren and John Tyler received gifts from the Imam of Muscat, for which they received congressional authorization either to transfer them to the United States Government or to auction them with proceeds vesting to the United States Treasury.[15]
While President, George Washington received a present from the Marquis de Lafayette, who considered Washington to be his "adoptive father."[27] and kept the gift without obtaining congressional consent. There is no indication in the historical record that Lafayette was presenting the gift on behalf of the French government. To the contrary, the letter that Lafayette sent to accompany the gift stated that it was "a tribute Which I owe as A Son to My Adoptive father."[28] Because the gift did not come from a "foreign state," it did not violate the Clause.[29] George Washington also took home to Mount Vernon a print of Louis XIV in an opulently commissioned frame that he had formerly received as a diplomatic gift while President.[30][31]
Armed services[edit]
Under interpretations of the Emoluments Clause elaborated by the Comptroller General of the United States and the U.S. Department of Justice Office of Legal Counsel which have never been tested in court, retired military personnel are forbidden from receiving employment, consulting fees, gifts, travel expenses, honoraria, or salary from foreign governments without prior consent from Congress, which as per section 908 of title 37 of the United States Code 908 requires advance approval from the Secretary of State and the Secretary of the relevant branch of the Armed Services.[32] Retired military officers have voiced concerns through the Retired Officers Association that applying the clause to them but not to retired civil service members is not an equal application of the clause, and therefore illegal.[citation needed]
In 1942 Congress authorized members of the armed forces to accept any "decorations, orders, medals and emblems" offered by allied nations during the course of World War II or up to one year following its conclusion.[33] Notably, Gen. Dwight D. Eisenhower accepted a number of titles and awards pursuant to this authorization after the fall of Nazi Germany, including a knighthood in Denmark's highest order of chivalry, the Order of the Elephant.[34]
Congress has also consented in advance to the receipt from foreign governments, by officials of the United States government (including military personnel) of a variety of gifts, subject to a variety of conditions, in the Foreign Gifts and Decorations Act[35] and section 108A of the Mutual Educational and Cultural Exchange Act, otherwise known as the Fulbright–Hays Act of 1961.[36]
The New York Times has reported that, according to two defense officials, the Army is investigating whether former National Security Advisor to Donald J. Trump Michael T. Flynn "received money from the Russian government during a trip he took to Moscow in 2015".[37] According to the officials, there was no record that Flynn has "filed the required paperwork for the trip", as required by the Emoluments Clause.[37]
References[edit]
Jump up ^ Shenon, Philip and Greenhouse, Linda. “Washington Talk: Briefing; The King and the Joker”, New York Times (1988-08-17): "This is the title of nobility clause, which provides: 'No Title of Nobility shall be granted by the United States'."
Jump up ^ Delahunty, Robert J. "Essay on the Emoluments Clause". The Heritage Foundation. Retrieved December 13, 2016.
Jump up ^ Heritage Foundation (Washington, D.C.) (2005). The Heritage Guide to the Constitution. Edwin Meese, III: Regnery Publishing. ISBN 1-59698-001-X.
Jump up ^ See generally U.S. Const. amend. X; see also The Federalist No. 41 (James Madison); and Letters From The Federal Farmer (Richard Henry Lee), Letter III (October 10, 1787) ed. Forrest McDonald (Indianapolis: Liberty Fund 1999) (Accessed from http://oll.libertyfund.org/title/690/102315 on 2009-05-22)
^ Jump up to: a b "Empire and Nation: Letters from a Farmer in Pennsylvania (John Dickinson). Letters from the Federal Farmer (Richard Henry Lee)". oll.libertyfund.org. Online Library of Liberty. Retrieved 2016-11-24.
Jump up ^ "Empire and Nation: Letters from a Farmer in Pennsylvania (John Dickinson). Letters from the Federal Farmer (Richard Henry Lee)". oll.libertyfund.org. Online Library of Liberty. Retrieved 2016-11-24. (emphasis added).
Jump up ^ The Life and Works of Thomas Paine. Edited by William M. Van der Weyde. Patriots' Edition. 10 vols. New Rochelle, N.Y.: Thomas Paine National Historical Association, 1925.
Jump up ^ See generally Marc A. Greendorfer, Restoring Nobility to the Constitution: A Modern Approach to a Founding Principle, http://ideaexchange.uakron.edu/conlawnow/vol6/iss1/4/ (tracing the history of aristocracy and the disdain of founding-era Americans for that institution)
Jump up ^ The Writings of Benjamin Franklin. Edited by Albert Henry Smyth. 10 vols. New York: Macmillan Co., 1905–7.
Jump up ^ Divine, Robert A.; Breen, T. H.; Fredrickson, George M.; Williams, R. Hal (2003). America, past and present. Addison-Wesley Educational Publishers Inc. p. 197. ISBN 0-321-09337-2.
Jump up ^ Adler, Jerry (2010-07-26). "The Move to 'Restore' the 13th Amendment". Newsweek.
Jump up ^ 20 Annals of Congress pages 670–672
Jump up ^ 20 Annals of Congress pages 2050–2051
Jump up ^ James J. Kilpatrick, ed. (1961). The Constitution of the United States and Amendments Thereto. Virginia Commission on Constitutional Government. p. 65.
^ Jump up to: a b c d Teachout, Zephyr (November 17, 2016). "Trump’s Foreign Business Ties May Violate the Constitution". New York Times.
Jump up ^ Robertson, David (1805). Debates and Other Proceedings of the Convention of Virginia (2d. ed.). p. 345.
Jump up ^ "Applicability of the Emoluments Clause to Non-Government Members of ACUS".
Jump up ^ Mikhail, John. ""Emolument" in Blackstone's Commentaries". Balkinization. Retrieved 4 June 2017.
Jump up ^ "APPLICABILITY OF THE EMOLUMENTS CLAUSE AND THE FOREIGN GIFTS AND DECORATIONS ACT TO THE PRESIDENT’S RECEIPT OF THE NOBEL PEACE PRIZE" (PDF).
Jump up ^ "Applicability of the Emoluments Clause to Non-Government Members of ACUS".
Jump up ^ "Applicability of the Emoluments Clause to Non-Government Members of ACUS".
Jump up ^ "White Paper: Application of the Emoluments Clause to DoD Civilian Employees and Military Personnel" (PDF). U.S. Department of Defense.
Jump up ^ Tillman, Seth Barrett (November 18, 2016). "Constitutional Restrictions on Foreign Gifts Don’t Apply to Presidents". New York Times.
Jump up ^ Adler, Jonathan H. (November 21, 2016). "The Emoluments Clause – is Donald Trump violating its letter or spirit?". The Volokh Conspiracy (Washington Post).
Jump up ^ Press, Associated (2017-03-08). "China provisionally grants Trump 38 trademarks – including for escort service". The Guardian. ISSN 0261-3077. Retrieved 2017-03-25.
Jump up ^ Message From The President Of The United States To The Two Houses Of Congress At The Commencement Of The First Session Of The Twenty-Third Congress. Gales & Seaton. 1833. p. 258-59.
Jump up ^ "Letter to George Washington From Lafayette, 23 August 1790". National Archives: Founders Online. Retrieved 4 June 2017.
Jump up ^ "Letter To George Washington From Lafayette, 17 March 1790". National Archives: The Founders Online. Retrieved 4 June 2017.
Jump up ^ Tofel, Richard. "Emoluments Clause: Could Overturning 185 Years of Precedent Let Trump Off the Hook?". Pro Publica.
Jump up ^ "A Portrait of A King at Mount Vernon". Retrieved 4 June 2017.
Jump up ^ Tofel, Richard. "Emoluments Clause: Could Overturning 185 Years of Precedent Let Trump Off the Hook?". Pro Publica.
Jump up ^ "SUMMARY OF EMOLUMENTS CLAUSE RESTRICTIONS" (PDF). U.S. Department of Defense Standards of Conduct Office. U.S. Department of Defense. Retrieved 4 March 2017.
Jump up ^ Pub.L. 77–671, 56 Stat. 662, enacted July 20, 1942
Jump up ^ American Heraldry's entry on Eisenhower's coat of arms
Jump up ^ 5 U.S.C. § 7342
Jump up ^ 22 U.S.C. § 2458a
^ Jump up to: a b Maggie Haberman, Matthew Rosenberg, Matt Apuzzo & Glenn Thrush, Michael Flynn Resigns as National Security Adviser, The New York Times (February 13, 2017).
Further reading[edit]
Grewal, Andy (2017). "The Foreign Emoluments Clause and the Chief Executive". Minnesota Law Review. 102: ––. SSRN 2902391  .
Teachout, Zephyr (2012). "Gifts, Offices, and Corruption". Northwestern University Law Review Colloquy. 107: 30–54. SSRN 2081879  .

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Market economy
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A market economy is an economic system in which the decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.[1][2]
Market economies range from minimally regulated "free market" and laissez-faire systems—where state activity is restricted to providing public goods and services and safeguarding private ownership[3]—to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides but does not substitute the market for economic planning—a form sometimes referred to as a mixed economy.[4][5][6]
Market economies are contrasted with planned economies where investment and production decisions are embodied in an integrated economy-wide economic plan by a single organizational body that owns and operates the economy’s means of production.
Contents
[hide]
1 Characteristics
1.1 Supply and demand
1.2 Property rights
2 Capitalism
2.1 Laissez-faire
2.2 Free-market economy
2.3 Welfare capitalism
2.4 Regional models
2.4.1 Anglo-Saxon model
2.4.2 East Asian model
2.4.3 Social market economy
3 Market socialism
3.1 Models of market socialism
3.2 Socialist market economy
4 In Religion
4.1 Christianity
4.2 Buddhism
5 Criticisms
6 See also
7 References
Characteristics[edit]
Supply and demand[edit]
Market economies rely upon a price system to signal market actors to adjust production and investment. Price formation relies on the interaction of supply and demand to reach or approximate an equilibrium where unit price for a particular good or service is at a point where the quantity demanded equals the quantity supplied.
Governments can intervene by establishing price ceilings or price floors in specific markets (such as minimum wage laws in the labor market), or use fiscal policy to discourage certain consumer behavior or to address market externalities generated by certain transactions (Pigovian taxes). Different perspectives exist on the role of government in both regulating and guiding market economies and in addressing social inequalities produced by markets. Fundamentally a market economy requires that a price system affected by supply and demand exists as the primary mechanism for allocating resources irrespective of the level of regulation.
Property rights[edit]
For market economies to function efficiently, governments must establish clearly defined and enforceable property rights for assets and capital goods. However, property rights does not specifically mean private property rights, and market economies do not logically presuppose the existence of private ownership of the means of production. Market economies can and often do include various types of cooperatives or autonomous state-owned enterprises that acquire capital goods and raw materials in capital markets. These enterprises utilize a market-determined free price system to allocate capital goods and labor.[7] In addition, there are many variations of market socialism where the majority of capital assets are socially-owned with markets allocating resources between socially-owned firms. These models range from systems based on employee-owned enterprises based on self-management to a combination of public ownership of the means of production with factor markets.[8]
Capitalism[edit]
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Capitalism generally refers to an economic system where the means of production are largely or entirely privately owned and operated for a profit, structured on the process of capital accumulation. In general, in capitalist systems investment, distribution, income, and prices are determined by markets, whether regulated or unregulated.
There are different variations of capitalism with different relationships to markets. In Laissez-faire and free market variations of capitalism, markets are utilized most extensively with minimal or no state intervention and regulation over prices and the supply of goods and services. In interventionist, welfare capitalism and mixed economies, markets continue to play a dominant role but are regulated to some extent by government in order to correct market failures or to promote social welfare. In state capitalist systems, markets are relied upon the least, with the state relying heavily on either indirect economic planning and/or state-owned enterprises to accumulate capital.
Capitalism has been dominant in the Western world since the end of feudalism, but most feel[who?] that the term "mixed economies" more precisely describes most contemporary economies, due to their containing both private-owned and state-owned enterprises. In capitalism, prices determine the demand-supply scale. For example, higher demand for certain goods and services lead to higher prices and lower demand for certain goods lead to lower prices.
Laissez-faire[edit]
Main articles: Laissez-faire and Economic liberalism
Laissez-faire is synonymous with what was referred to as strict capitalist free market economy during the early and mid-19th century[citation needed] as a classical liberal (right-libertarian) ideal to achieve. It is generally understood that the necessary components for the functioning of an idealized free market include the complete absence of government regulation, subsidies, artificial price pressures, and government-granted monopolies (usually classified as coercive monopoly by free market advocates) and no taxes or tariffs other than what is necessary for the government to provide protection from coercion and theft, maintaining peace and property rights, and providing for basic public goods. Right-libertarian advocates of anarcho-capitalism see the state as morally illegitimate and economically unnecessary and destructive.
Free-market economy[edit]
See also: Free market
Free-market economy refers to an economic system where prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy. It typically entails support for highly competitive markets, private ownership of productive enterprises. Laissez-faire is a more extensive form of free-market economy where the role of the state is limited to protecting property rights.
Welfare capitalism[edit]
Main article: Welfare capitalism
Welfare capitalism refers to a capitalist economy that includes public policies favoring extensive provisions for social welfare services. The economic mechanism involves a free market and the predominance of privately owned enterprises in the economy, but public provision of universal welfare services aimed at enhancing individual autonomy and maximizing equality. Examples of contemporary welfare capitalism include the Nordic model of capitalism predominant in Northern Europe.[9]
Regional models[edit]
Anglo-Saxon model[edit]
Main article: Anglo-Saxon economy
Anglo-Saxon capitalism refers to the form of capitalism predominant in Anglophone countries and typified by the economy of the United States. It is contrasted with European models of capitalism such as the continental Social market model and the Nordic model. Anglo-Saxon capitalism refers to a macroeconomic policy regime and capital market structure common to the Anglophone economies. Among these characteristics are low rates of taxation, more open financial markets, lower labor market protections, and a less generous welfare state eschewing collective bargaining schemes found in the continental and northern European models of capitalism.[10]
East Asian model[edit]
Main article: East Asian model of capitalism
The East Asian model of capitalism involves a strong role for state investment, and in some instances involves state-owned enterprises. The state takes an active role in promoting economic development through subsidies, the facilitation of "national champions", and an export-based model of growth. The actual practice of this model varies by country. This designation has been applied to the economies of Singapore, Japan, Taiwan, South Korea and the People's Republic of China.
A related concept in political science is the developmental state.
Social market economy[edit]
Main article: Social market economy
This model was implemented by Alfred Müller-Armack and Ludwig Erhard after World War II in West Germany. The social market economic model (sometimes called "Rhine capitalism") is based upon the idea of realizing the benefits of a free market economy, especially economic performance and high supply of goods, while avoiding disadvantages such as market failure, destructive competition, concentration of economic power and the socially harmful effects of market processes. The aim of the social market economy is to realize greatest prosperity combined with best possible social security. One difference from the free market economy is that the state is not passive, but takes active regulatory measures.[11] The social policy objectives include employment, housing and education policies, as well as a socio-politically motivated balancing of the distribution of income growth. Characteristics of social market economies are a strong competition policy and a contractionary monetary policy. The philosophical background is Neoliberalism or Ordoliberalism.[12]
Market socialism[edit]
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Market socialism is a form of market economy where the means of production are socially-owned. In a market socialist economy, firms operate according to the rules of supply and demand and operate to maximize profit; the principal difference between market socialism and capitalism being that the profits accrue to society as a whole as opposed to private owners.[13]
The distinguishing feature between non-market socialism and market socialism is the existence of a market for factors of production and the criteria of profitability for enterprises. Profits derived from publicly owned enterprises can variously be used to reinvest in further production, to directly finance government and social services, or be distributed to the public at large through a social dividend or basic income system.[14]
Models of market socialism[edit]
Market socialism traces its roots to classical economics and the works of Adam Smith, the Ricardian socialists, and Mutualist philosophers.[15]
In the 1930s the economists Oskar Lange and Abba Lerner developed a model of socialism that posited that a public body (dubbed the "Central Planning Board") could set prices through a trial-and-error approach until they equaled the marginal cost of production in order to achieve perfect competition and pareto optimality. In this model of socialism, firms would be state-owned and managed by their employees, and the profits would be disbursed among the population in a social dividend. This model came to be referred to as "market socialism" because it involved the use of money, a price system, and simulated capital markets; all of which were absent from traditional of non-market socialism.
A more contemporary model of market socialism is that put forth by the American economist John Roemer, referred to as Economic democracy. In this model, social ownership is achieved through public ownership of equity in a market economy. A Bureau of Public Ownership (BPO) would own controlling shares in publicly listed firms, so that the profits generated would be used for public finance and the provision of a basic income.
Libertarian socialists and left-anarchists often promote a form of market socialism in which enterprises are owned and managed cooperatively by their workforce so that the profits directly remunerate the employee-owners. These cooperative enterprises would compete with each other in the same way private companies compete with each other in a capitalist market. The first major elaboration of this type of market socialism was made by Pierre Joseph Proudhon and was called "mutualism".
Self-managed market socialism was promoted in Yugoslavia by economists Branko Horvat and Jaroslav Vanek. In the self-managed model of socialism, firms would be directly owned by their employees and the management board would be elected by employees. These cooperative firms would compete with each other in a market for both capital goods and for selling consumer goods.
Socialist market economy[edit]
Following the 1978 reforms, the People's Republic of China developed what it calls a "socialist market economy", in which most of the economy is under state ownership, with the state enterprises organized as joint-stock companies with various government agencies owning controlling shares through a shareholder system. Prices are set by a largely free-price system and the state-owned enterprises are not subjected to micromanagement by a government planning agency. A similar system called "socialist-oriented market economy" has emerged in Vietnam following the Đổi Mới reforms in 1986. This system is frequently characterized as "state capitalism" instead of market socialism because there is no meaningful degree of employee self-management in firms, because the state enterprises retain their profits instead of distributing them to the workforce or government, and because many function as de facto private enterprises. The profits neither finance a social dividend to benefit the population at large, nor do they accrue to their employees.
In the People's Republic of China, this economic model is presented as a "preliminary stage of socialism" to explain the dominance of capitalistic management practices and forms of enterprise organization in both the state and non-state sectors.
In Religion[edit]
A wide range of philosophers and theologians have linked market economies to monotheistic values. Michael Novak described capitalism as being closely related to Catholicism. But, Max Weber drew a connection between capitalism and Protestantism. The Economist Jeffrey Sachs has stated that his work was inspired by the healing characteristics of Judaism. Chief Rabbi Lord Sacks of the United Synagogue draws a correlation between modern capitalism and the Jewish image of the Golden Calf.[16]
Christianity[edit]
In the Christian faith, the Liberation theology movement advocated involving the church in labor market capitalism. Many priests and nuns integrated themselves into labor organizations. Others moved into the slums to live among the poor. The holy trinity was interpreted as a call for social equality and the elimination of poverty. The Pope was highly active in his criticism of Liberation Theology. He was particularly concerned about the increased fusion between Christianity and Marxism. He closed Catholic institutions that taught Liberation Theology. He also dismissed some of its activists from the church.[17]
Buddhism[edit]
The Buddhist approach to the market economy was dealt with in E.F. Schumacher’s 1966 essay, “Buddhist Economics,”. Schumacher asserted that a market economy guided by Buddhist principles would more successfully meet the needs of its people. He emphasized the importance or pursuing occupations that adhered to Buddhist teachings. The essay would later become required reading for a course that Clair Brown offered at University of California, Berkeley.[18]
Criticisms[edit]
The economist Joseph Stiglitz argues that markets suffer from informational inefficiency and the presumed efficiency of markets stems from the faulty assumptions of neoclassical welfare economics, particularly the assumption of perfect and costless information, and related incentive problems. Neoclassical economics assumes static equilibrium, and efficient markets require that there be no non-convexities, even though nonconvexities are pervasive in modern economies. Stiglitz's critique applies to both existing models of capitalism and to hypothetical models of market socialism. However, Stiglitz does not advocate replacing markets, but states that there is a significant role for government intervention to boost the efficiency of markets and to address the pervasive market failures that exist in contemporary economies.[19] A fair Market Economy is in fact a Martingale or a Brownian motion model and for a participant competitor in such a model there is no more than 50% of success chances at any given moment. Due to the fractal nature of any fair market and being market participants subject to the law of competition, which impose reinvesting an increasing part of profits, the mean statistical chance of bankruptcy within the half life of any participant is also 50% [20] and 100% whether an infinite sample of time is considered.
Robin Hahnel and Michael Albert claim that "markets inherently produce class division."[21] Albert states that even if everyone started out with a balanced job complex (doing a mix of roles of varying creativity, responsibility and empowerment) in a market economy, class divisions would arise.
Without taking the argument that far, it is evident that in a market system with uneven distribution of empowering work, such as Economic Democracy, some workers will be more able than others to capture the benefits of economic gain. For example, if one worker designs cars and another builds them, the designer will use his cognitive skills more frequently than the builder. In the long term, the designer will become more adept at conceptual work than the builder, giving the former greater bargaining power in a firm over the distribution of income. A conceptual worker who is not satisfied with his income can threaten to work for a company that will pay him more. The effect is a class division between conceptual and manual laborers, and ultimately managers and workers, and a de facto labor market for conceptual workers.[21]
David McNally argues that the logic of the market inherently produces inequitable outcomes and leads to unequal exchanges, arguing that Adam Smith's moral intent and moral philosophy espousing equal exchange was undermined by the practice of the free markets he championed. The development of the market economy involved coercion, exploitation and violence that Adam Smith's moral philosophy could not countenance. McNally also criticizes market socialists for believing in the possibility of "fair" markets based on equal exchanges to be achieved by purging "parasitical" elements from the market economy, such as private ownership of the means of production. McNally argues that market socialism is an oxymoron when socialism is defined as an end to wage-based labor.[22]
See also[edit]
Economic freedom
Economic liberalism
Free market
Gift economy
Grey market
Market socialism
Market structure
Mixed economy
Neoclassical economics
Planned economy
Price system
Regulated market
Social market economy
Socialist market economy
References[edit]
Jump up ^ Gregory and Stuart, Paul and Robert (2004). Comparing Economic Systems in the Twenty-First Century, Seventh Edition. George Hoffman. p. 538. ISBN 0-618-26181-8. Market Economy: Economy in which fundamentals of supply and demand provide signals regarding resource utilization.
Jump up ^ Altvater, E. (1993). The Future of the Market: An Essay on the Regulation of Money and Nature After the Collapse of "Actually Existing Socialism. Verso. p. 57.
Jump up ^ Yu-Shan Wu (1995). Comparative Economic Transformations: Mainland China, Hungary, the Soviet Union, and Taiwan. Stanford University Press. p. 8. In laissez-faire capitalism, the state restricts itself to providing public goods and services that the economy cannot generate by itself and to safeguarding private ownership and the smooth operation of the self-regulating market.
Jump up ^ Altvater, E. (1993). The Future of the Market: An Essay on the Regulation of Money and Nature After the Collapse of "Actually Existing Socialism. Verso. pp. 237–238.
Jump up ^ Tucker, Irvin B. p 491. Macroeconomics for Today. West Publishing. p. 491
Jump up ^ Altvater, E. (1993). The Future of the Market: An Essay on the Regulation of Money and Nature After the Collapse of "Actually Existing Socialism. Verso. pp. 237–238.
Jump up ^ Paul M. Johnson (2005). "A Glossary of Political Economy Terms, Market economy". Auburn University. Retrieved 28 December 2012.
Jump up ^ Bock man, Johanna (2011). Markets in the name of Socialism: The Left-Wing origins of Neoliberalism. Stanford University Press. ISBN 978-0-8047-7566-3.
Jump up ^ "The surprising ingredients of Swedish success - free markets and social cohesion" (PDF). Institute of Economic Affairs. June 25, 2013. Retrieved January 15, 2014.
Jump up ^ Anglo-Saxon capitalism, Business Dictionary on BusinessDictionary.com: http://www.businessdictionary.com/definition/Anglo-Saxon-capitalism.html
Jump up ^ keyword "social market economy" = “Soziale Marktwirtschaft” Duden Wirtschaft von A bis Z. Grundlagenwissen für Schule und Studium, Beruf und Alltag. 2. Aufl. Mannheim: Bibliographisches Institut & F.A. Brockhaus 2004. Lizenzausgabe Bonn: Bundeszentrale für politische Bildung 2004.
Jump up ^ Duden Wirtschaft von A bis Z: Eintrag: keyword "social market economy" = Soziale Marktwirtschaft
Jump up ^ Comparing Economic Systems in the Twenty-First Century, 2003, by Gregory and Stuart. ISBN 0-618-26181-8. (p. 142): "It is an economic system that combines social ownership of capital with market allocation of capital...The state owns the means of production, and returns accrue to society at large."
Jump up ^ Social Dividend versus Basic Income Guarantee in Market Socialism, by Marangos, John. 2004. International Journal of Political Economy, vol. 34, no. 3, Fall 2004.
Jump up ^ McNally, David (1993). Against the Market: Political economy, market socialism and the Marxist critique. Verso. p. 44. ISBN 978-0-86091-606-2. ...by the 1820s, 'Smithian' apologists for industrial capitalism confronted 'Smithian' socialists in a vigorous, and often venomous, debate over political economy.
Jump up ^ Lord Sacks, "Rediscovering Religious Values in the Market Economy", HuffPost, February 11, 2012
Jump up ^ "Liberation theology", BBC, July 18, 2011
Jump up ^ Kathleen Maclay, "Buddhist economics: oxymoron or idea whose time has come?", Berkeley News, March 13, 2014
Jump up ^ Michie, Jonathan (January 1, 2001). Reader’s Guide to the Social Sciences. Routledge. p. 1012. ISBN 978-1579580919. Stiglitz criticizes the first and second welfare theorems for being based on the assumptions of complete markets (including a full set of futures and risk markets) and perfect and costless information, which are simply not true. Incentives are dubious too. Thus, capitalist markets are also not efficient and there is some role for government intervention. The ability to decentralize using the price system requires that there be no nonconvexities, but nonconvexities are pervasive.
Jump up ^ Podobnik, Boris; Horvatic, Davor; Petersen, Alexander M.; Urošević, Branko; Stanley, H. Eugene (2010-10-26). "Bankruptcy risk model and empirical tests". Proceedings of the National Academy of Sciences of the United States of America. 107 (43): 18325–18330. arXiv:1011.2670  . Bibcode:2010PNAS..10718325P. doi:10.1073/pnas.1011942107. ISSN 0027-8424. PMC 2972955  . PMID 20937903.
^ Jump up to: a b Weiss, Adam (2005-05-04). "A Comparison of Economic Democracy and Participatory Economics". ZMag. Retrieved 2008-06-26. [permanent dead link]
Jump up ^ McNally, David (1993). Against the Market: Political economy, market socialism and the Marxist critique. Verso. ISBN 978-0-86091-606-2.
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text:
List of Grounded for Life characters
From Wikipedia, the free encyclopedia
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This article does not cite any sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (November 2010) (Learn how and when to remove this template message)
Back row: Walt, Claudia, Sean, Lily, Eddie; Front row: Jimmy, Henry
The Following is a list of characters from the sitcom Grounded for Life.
Contents
[hide]
1 Characters
1.1 Sean Finnerty
1.2 Claudia Finnerty
1.3 Eddie Finnerty
1.4 Lily Finnerty
1.5 James/Jimmy Finnerty
1.6 Henry Finnerty
1.7 Brad O'Keefe
1.8 Walt Finnerty
1.9 Rose/Gracie Finnerty
2 References
3 External links
Characters[edit]
Sean Finnerty[edit]
Sean Finnerty
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Hello, Goodbye
Information
Nickname(s)
Seany, Cappy
Gender
Male
Occupation
Subway Engineer, Bartender
Family
Walt Finnerty (father)
Eddie Finnerty (brother)
Spouse(s)
Claudia Bustamante
Children
Lily Finnerty (daughter)
Jimmy Finnerty (son)
Henry Finnerty
Rose/Gracie Finnerty (daughter)
Sean Finnerty (Donal Logue) - Initially in the city lines as a laborer. In the later seasons, he owns and operates The Red Boot Bar with his brother Eddie. A Red Boot Pub dartboard can be found in the Finnerty household in the livingroom. Father of three (later four) kids, Sean also deals with his judgmental father, his irresponsible brother, and the head nun/principal at his children's school, Sister Helen. Sean is often getting into trouble with his irresponsible brother. His nickname for Claudia is baby. In many episodes he is depicted as a hothead and he has a lot of difficulty parenting, on account of the fact that he was only eighteen when Lily was born. He is also shown in many episodes to be a skilled guitar player, with him and Eddie having been in a band together in their youth.
Claudia Finnerty[edit]
Claudia Finnerty
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Hello, Goodbye
Information
Nickname(s)
Claud, Baby (by Sean)
Gender
Female
Occupation
Restaurant hostess
Family
Tony Bustamante (father)
Spouse(s)
Sean Finnerty
Children
Lily Finnerty (daughter)
Jimmy Finnerty (son)
Henry Finnerty (son)
Rose/Gracie Finnerty (daughter)
Relatives
Sal Bustamante (uncle)
Claudia Finnerty (née Bustamante) (Megyn Price) - Claudia got pregnant with Lily in high school and ended up marrying Lilly's father, Sean Finnerty. She has a job as a hostess at a SoHo restaurant and in later seasons takes classes at Wadsworth College. She is often underappreciated, but is able to make that known. She and Sean's brother, Eddie, run into many conflicts throughout the series. At the beginning of the fifth season, Sean impregnates her again and she gives birth to a girl named Rose in the finale. She seems to be more understanding and forgiving of Lily's mistakes and is generally more level-headed than Sean throughout the series. She is of partial Italian descent. She is also depicted as an extremely attractive character.
Eddie Finnerty[edit]
Eddie Finnerty
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Hello, Goodbye
Information
Gender
Male
Occupation
Bartender
Family
Walt Finnerty (father)
Sean Finnerty (brother)
Relatives
Claudia Finnerty (sister-in-law)
Lily Finnerty (niece)
Jimmy Finnerty (nephew)
Henry Finnerty (nephew)
Rose/Gracie Finnerty (niece)
Eddie Finnerty (Kevin Corrigan) - Eddie is Sean's younger brother, he is carefree and often gets himself trouble. He is always in the Finnerty house eating their food and watching their TV. Claudia and Sean once put him out of their home after discovering he filmed a porn film in the house. When he started work at the Red Boot Pub, he planned to burn it down for the insurance money. It is implied throughout the series that he is involved in illegal activity.
Lily Finnerty[edit]
Lily Finnerty
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Hello, Goodbye
Information
Nickname(s)
Lillipop
Gender
Female
Family
Sean Finnerty (father)
Claudia Finnerty (mother)
Jimmy Finnerty (brother)
Henry Finnerty (brother)
Rose/Gracie Finnerty (sister)
Relatives
Walt Finnerty (grandfather)
Tony Bustamante (grandfather)
Eddie Finnerty (uncle)
Sal Bustamante (greatuncle)
Lily Finnerty (Lynsey Bartilson)(14–18 years old) - The airheaded selfish teenager who is often at odds with her parents. She usually blames her parents for all her problems mostly on the grounds that they had her so young, and that her mom is still attractive. Although she first finds him annoying, she later falls in love with her next door neighbor, Brad O'Keefe, and they have an on-again, off-again relationship. Lily meets a boy named Dean in the episode Bang on the Drum and begins to date him from then to the eleventh episode of season three in which she gets together with Brad on Lily's sixteenth birthday. They continue to date throughout the rest of the show, and their relationship, and its problems, are often central points of the episodes. Throughout the series, it is shown that she loves to dance.
James/Jimmy Finnerty[edit]
Jimmy Finnerty
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Hello, Goodbye
Information
Nickname(s)
Jimmy, Jim
Gender
male
Family
Sean Finnerty (father)
Claudia Finnerty (mother)
Lily Finnerty (sister)
Henry Finnerty (brother)
Rose/Gracie Finnerty (sister)
Relatives
Walt Finnerty (grandfather)
Tony Bustamonte (grandfather)
Eddie Finnerty (uncle)
Sal Bustamonte (great-uncle)
James Francis "Jimmy" Finnerty (Griffin Frazen)(11–15 years old) - The black sheep of the family, Jimmy's choices are not always accepted by his parents (such as choosing to become a vegetarian). Thus, he often confides in his Uncle Eddie. Many comparisons are made between the two characters on the show, most notably in the third season episode Who Are You? where he pretends to shoplift in a desperate grab for attention. The reason he gets so little attention is that unlike his siblings he causes the least trouble. He is arguably the most sensible and intelligent of the characters.
Henry Finnerty[edit]
Henry Finnerty
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Space Camp Oddity
Information
Gender
Male
Family
Sean Finnerty (father)
Claudia Finnerty (mother)
Lily Finnerty (sister)
Jimmy Finnerty (brother)
Rose/Gracie Finnerty (sister)
Relatives
Walt Finnerty (grandfather)
Tony Bustamante (grandfather)
Eddie Finnerty (uncle)
Sal Bustamante (great-uncle)
Henry Finnerty (Jake Burbage)(8–12 years old) - The youngest son of the family, Henry, disappeared at the beginning of the fifth season when actor Jake Burbage left to move back east with his family. He is actually never seen during the fifth season, but he is, however, mentioned several times, notably in the episode "Hello, Goodbye" when Claudia says to Walt that Henry is "...around here someplace,". [1] Henry is named to be a "loose cannon", often getting himself into trouble for being extremely impressionable and curious.
Brad O'Keefe[edit]
Bradley 'Brad' O'Keefe
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Hello, Goodbye
Information
Gender
Male
Family
Dan O'Keefe (father)
Connie O'Keefe (mother)
Bradley 'Brad' O'Keefe (Bret Harrison)(14–18 years old) - The sweet, smart but socially inept neighbor, who later becomes Lily's boyfriend at the end of the third season. He is a science nerd and is part of the school club "Sciencenauts".
Walt Finnerty[edit]
Walt Finnerty
Grounded for Life character
First appearance
Lily B. Goode
Last appearance
Hello, Goodbye
Information
Gender
Male
Family
Sean Finnerty (son)
Eddie Finnerty (son)
Relatives
Lily Finnerty (granddaughter)
Jimmy Finnerty (grandson)
Henry Finnerty (grandson)
Rose/Gracie Finnerty (granddaughter)
Walt Finnerty (Richard Riehle) is Sean and Eddie's father. He's a widower and often comes to the house or the bar to see his kids and grandkids. He's very judgmental, especially of his own sons and is shown to be all but the ideal father and lacks in parental skills (scaring his children when they were young or making his two grandsons dig a deep hole for no reason).
Rose/Gracie Finnerty[edit]
Rose/Gracie Finnerty
Grounded for Life character
First appearance
Hello, Goodbye
Last appearance
Hello, Goodbye
Information
Gender
Female
Family
Sean Finnerty (father)
Claudia Finnerty (mother)
Lily Finnerty (sister)
Jimmy Finnerty (brother)
Henry Finnerty (brother)
Rose/Gracie Finnerty - The series finale ends with Claudia giving birth to Rose who they later rename Gracie after many wrongfully believe to be named after a certain movie character, bringing the number of Finnerty children to four at the end of the series. She was born on Lily's high school graduation day, in June 2005.
References[edit]
External links[edit]
Grounded for Life characters at groundedforlifeshrine.com
Retrieved from "https://en.wikipedia.org/w/index.php?title=List_of_Grounded_for_Life_characters&oldid=798124842"
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