The Foundation for Economic Education has sold, since 1950, approximately half a million copies of its edition of Bastiat’s The Law, in the Russell translation. This makes the book a “best seller,” despite that the Bastiat name is familiar to a mere handful. Few textbook surveys of political philosophies or economic theories mention him; few academics recognize the name.
Shelby Steele’s book, The Content of Our Character, is the best statement of its kind dealing with the issues surrounding racial antagonism often felt between black and white Americans. Written by a black professor of English who recently described himself to Time magazine as a “classical liberal,” this book is a striking analysis of the psychological factors involved in issues about race in the United States.
“Due to the automation” of E.J. Brill’s “systems” (forsooth!) this remarkable book has been kept waiting nearly two years for a notice. I hope that it will now receive at long last the attention–and the sales–it deserves.
Freedom, the first of two planned volumes, is Patterson’s attempt to explain why one culture valued liberty while so many others did not. His effort is of particular interest, given how long it took for freedom–with the concomitant protection of democratic electoral processes, economic opportunity, and human rights–to finally advance in Africa, Asia, and the one-time Soviet empire.
R&L: Since obtaining your doctorate in economics from Yale, you have held positions as a research economist for the Federal Reserve Bank of New York, as a professor at Bates College, and now as a professor at Pepperdine University. Based on all of your study and these varied experiences, what would you say is the single greatest economic challenge facing the world today?
R&L: You have done some scholarly work on the history of the church's social thought. What is Roman Catholic social teaching, and why is it important, particularly with respect to non-Catholics?
R&L: Until the recent announcement of your retirement, you had worked at your family’s company for over fifty years. In light of this experience, how have you come to understand capitalism?
R&L: You have holdings in both large and small business enterprises. Does the executive of a large, multi-million dollar enterprise face any particular challenges to ethical business practice that an executive in a smaller business enterprise does not?
R&L: You have written many books and articles on the subject of “living out faith at work.” What do you conclude to be the largest impediment to practicing a life of faith in the workplace?