Category : Economy

(CC) Steve Thorngate opposes Matthew Yglesias' idea of taxing all churches

…the tax laws in question don’t apply to churches alone; they apply to a whole class of charitable organizations””organizations that share certain qualities that aren’t about sectarianism. The Supreme Court cited the breadth of this category when it upheld the tax exemption for churches in 1970. The Court also cited with approval its understanding that state governments see all such 501(c)(3) organizations as having “a harmonious relationship to the community at large,” as being “beneficial and stabilizing influences in community life.”

Obviously, this is just one perspective on what churches are, and a rather optimistic one at that. But there’s no question that lots of churches do at least this. And this is an official reason the government has given for continuing to allow charities to be tax exempt: because they serve the general welfare of the community.

It follows that a charity shouldn’t exist to back one side in a zero-sum contest within that community. [Matthew] Yglesias seems to think this is pretty much what churches do””they save souls from following that other, wrong religion””so we should just tax them already. I

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Law & Legal Issues, Religion & Culture, Taxes

(Washington Post) After Syria chemical allegations, Obama considering limited military strike

President Obama is weighing a military strike against Syria that would be of limited scope and duration, designed to serve as punishment for Syria’s use of chemical weapons and as a deterrent, while keeping the United States out of deeper involvement in that country’s civil war, according to senior administration officials.

The timing of such an attack, which would probably last no more than two days and involve sea-launched cruise missiles ”” or, possibly, long-range bombers ”” striking military targets not directly related to Syria’s chemical weapons arsenal, would be dependent on three factors: completion of an intelligence report assessing Syrian government culpability in last week’s alleged chemical attack; ongoing consultation with allies and Congress; and determination of a justification under international law.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Defense, National Security, Military, Economy, Ethics / Moral Theology, Foreign Relations, House of Representatives, Middle East, Office of the President, Politics in General, President Barack Obama, Science & Technology, Senate, Syria, The U.S. Government, Theology, Violence

(Gallup) Americans Sour Slightly on Quality Jobs Market

The market for quality jobs may be cooling. The 21% of Americans who say now is a good time to find a quality job is down from 25% in July — and the most negative reading this year. Now, 76% say it is a bad time to find a quality job, up from 70% in July.

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Posted in * Culture-Watch, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Psychology, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(Baptist Standard) Many ministers saddled with seminary debt

When Congress overwhelmingly approved a measure last month to relieve spiraling student debt, churches probably didn’t realize the problem hits closer to home than expected””many pastors are leaving seminary and divinity school with tens of thousands of dollars in loans.

“It’s becoming a huge issue,” said Bill Wilson, president of the Center for Congregational Health. “I’ve heard of totals approaching $60,000. I had one resident who showed up with $40,000 between school and credit cards.”

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Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, Economy, Education, Ethics / Moral Theology, Ministry of the Ordained, Parish Ministry, Personal Finance, Religion & Culture, Seminary / Theological Education, Stewardship, Theology

(BBC) Chief Rabbi Lord Sacks says society is 'losing the plot'

Society is “losing the plot” as it becomes more secular and less trusting, the UK’s outgoing Chief Rabbi Lord Sacks has said.

Lord Jonathan Sacks told the BBC the growth of individualism over the past 50 years was responsible for a pervasive breakdown in trust.

He highlighted the 2008 financial crisis and the declining marriage rate.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Anthropology, Children, Economy, England / UK, Ethics / Moral Theology, History, Judaism, Marriage & Family, Other Faiths, Politics in General, Religion & Culture, Theology

(NY Times) Gretchen Morgenson–New Jobs! If Only It Were True

A current success story on the agency’s Web site is that of Carolina AAC, a company that received $10.4 million in late 2010 to build a concrete manufacturing plant in Bennettsville, S.C.

“This project will create approximately 197 new jobs in Marlboro County,” the Agriculture Department’s Web site says. Such a figure would make Carolina AAC the program’s third-largest borrower in terms of jobs created.

But Carolina AAC said in a January 2011 news release that only 36 jobs would be created at the project. And even that has not come to pass. Currently, 10 people work at the company, according to Charles Paterno, its managing member. Troubling for taxpayers is that the government backs 90 percent of the loans and they are in liquidation.

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Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government

(AP) Singapore church told to pay over adultery firing

Singapore’s government has ordered a prominent church to pay compensation to a former employee who was fired for alleged adultery, officials said last week.

The Faith Community Baptist Church has reportedly said it will abide by the order and pay the woman about $5,500 in salary and maternity benefits, but it insisted it was correct to dismiss her.

The woman, who handled administrative responsibilities for the church, filed a complaint to Singapore’s Ministry of Manpower after she was fired last September.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Asia, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Law & Legal Issues, Religion & Culture, Singapore, Theology

(NPR) Affordable Care Act To Force Millions To Upgrade Insurance

Despite promises by President Obama that people can keep the insurance they have once Obamacare is in full effect, millions will have to upgrade their policies to meet the benefit standards laid out by the Affordable Care Act. The measure will be in full swing this January.

Read or listen to it all.

Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Labor/Labor Unions/Labor Market, Personal Finance, Politics in General, The U.S. Government, Theology

(CSM) Yahoo tips Google off Web traffic throne: How Marissa Mayer did it

July marks the first time Yahoo has led the ComScore ranking since May 2011. Yahoo’s victory is all the sweeter given that its tally doesn’t count traffic from Tumblr, a popular blog site that Yahoo now owns.

Last year, Yahoo’s traffic numbers were headed downward, as was its stock price, before Ms. Mayer came on board in mid-July.

What accounts for the turnaround, and how meaningful is it?

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Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Corporations/Corporate Life, Economy

(Church Times) Fracking dispute lands Church in Hot Water

Fracking may not yet have tested the thickness of his rectory walls, as suggested by the “light-hearted” Energy Minister Michael Fallon, but it has already caused emotional tremors in the parish of the Priest-in-Charge of Balcombe, the Revd Desmond Burton.

On Monday, he described how the drilling of an oil exploration well in the West Sussex village had divided parishioners. Protesters, who have arrived in their hundreds, fear that the drilling by Cuadrilla, an oil and gas company, is the precursor to hydraulic fracturing (“fracking”), whereby water mixed with sand and chemicals is injected at high pressure into rock deep beneath the earth’s surface, to release gas.

“People in the village who have been good friends, because of fracking issues have fallen out quite strongly,” Mr Burton said. ”

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Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Economics, Politics, * International News & Commentary, Anglican Provinces, Church of England (CoE), Corporations/Corporate Life, Economy, Energy, Natural Resources, England / UK, Ethics / Moral Theology, Parish Ministry, Theology

(Gallup) Americans Still Wary of, Not Too Familiar With, Health Law

Less than two months before the health insurance exchanges open nationwide, more Americans disapprove (49%) than approve (41%) of the Affordable Care Act. An additional 11% have no opinion. As this landmark legislation enters the next phase in its implementation process, it remains divisive. With the exception of a bounce likely caused by President Barack Obama’s re-election in November 2012, Americans have been more disapproving than approving of the healthcare law.

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Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Personal Finance, Politics in General, The U.S. Government, Theology

(Wash. Post) Roman Catholic Church turns up support for immigration reform

The Catholic Church is ramping up support for immigration reform with plans to mobilize up to two dozen dioceses in key states in hopes of convincing House Republicans to support a comprehensive bill, organizers said.

The church is planning a series of loosely coordinated events, including an immigration-focused Mass at some churches Sept. 8 ”” the day before Congress returns from a five-week summer recess ”” and pilgrimages of church members to regional offices of lawmakers.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., Economy, Globalization, Immigration, Law & Legal Issues, Other Churches, Politics in General, Religion & Culture, Roman Catholic

(WSJ Op-ed) Jeffrey Singer: The Man Who Was Treated for $17,000 Less

Most people are unaware that if they don’t use insurance, they can negotiate upfront cash prices with hospitals and providers substantially below the “list” price. Doctors are happy to do this. We get paid promptly, without paying office staff to wade through the insurance-payment morass.

So we canceled the surgery and started the scheduling process all over again, this time classifying my patient as a “self-pay” (or uninsured) patient. I quoted him a reasonable upfront cash price, as did the anesthesiologist. We contacted a different hospital and they quoted him a reasonable upfront cash price for the outpatient surgical/nursing services. He underwent his operation the very next day, with a total bill of just a little over $3,000, including doctor and hospital fees. He ended up saving $17,000 by not using insurance

This process taught us a few things. First, most people these days don’t have health “insurance.” They have prepaid health plans….

Read it all (or if necessary another link may be found there.)

Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Personal Finance, Theology

A 60 minutes interview with Billionaire Paul Tudor Jones: "There was…a hole in my soul"

Scott Pelley: What do you see when you look around the city?

Paul Tudor Jones: I see people in pain, people in need, people at times without hope, looking for something that will give them some compelling future. I see too many people in homeless shelters, on food stamps. I think a lot of us don’t like to focus on it, but it’s a significant part of this country that needs to be addressed….You cannot have significance in this life if it’s all about you. You get your significance, you find your joy in life through service and sacrifice. It’s pure and simple.

Read or watch it all (video highly recommended).

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Charities/Non-Profit Organizations, Consumer/consumer spending, Economy, Education, Personal Finance, Urban/City Life and Issues

(Gallup) U.S. Small-Business Owners Most Optimistic Since 2008

U.S. small-business owners are more optimistic now than at any time since late 2008. The Wells Fargo/Gallup Small Business Index improved to +25 in July, from +16 in the second quarter. The latest result, while not as high as pre-recession levels, is the highest index score since the third quarter of 2008.

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Posted in * Culture-Watch, * Economics, Politics, Corporations/Corporate Life, Economy, Psychology, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(Bloomberg) Fantastic portrait Article–Mailman at 72 With America’s Longest Route

In 36 years with three school districts, Bull counts his sick days on one hand — five — and tallies just as many in 13 years as a carrier, first as a substitute in 2000 and then as a full-timer in 2007. The temperatures he works in can swing 120 degrees Fahrenheit, from 115 (46 Celsius) in the summer to below zero in the winter’s wind.

Five years ago, the snow and ice were so deep on the road that his power steering gave out. He zigged and zagged and tore through an electric fence, leaving a hole for 50 head of cattle to roam free. He pushed on the gas, nudging the truck out of trouble and on to the nearest farm for help.

“You just never know what might happen,” Bull says over rib-eye and potato salad at his favorite steakhouse.

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Posted in * Culture-Watch, * Economics, Politics, * General Interest, * International News & Commentary, Aging / the Elderly, America/U.S.A., Economy, Labor/Labor Unions/Labor Market, Religion & Culture, Weather

New Jersey’s Boomerang Generation–at least 1 in 4 young adults are back with their parents

Is 27 the new 18 when it comes to living at your parents’ house?

According to the US census Bureau, at least 1 in 4 N.J. adults, ages 18-31 live at home and 42% are 24 or older. Experts call it an “epidemic” of millennials leaching off their parents, but does a bad economy and student loan debt crisis justify the situation?

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Posted in * Culture-Watch, * Economics, Politics, Children, Economy, Labor/Labor Unions/Labor Market, Marriage & Family, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Young Adults

(Time) Move Over, Facebook: LinkedIn Opens Its Doors to Teenagers

Since the days of Facebook’s Honesty Box, social-media websites have been the safe havens where teenagers go to gripe and gossip away from all the nosy adults in their lives. But times are changing: kids are spending more time carefully pruning their Facebook profiles in preparation for the college-admissions game, and they’re adopting a wider variety of social-media platforms to serve more specific functions. So maybe it’s not so far-fetched that LinkedIn, the stodgy social network for professionals, is suddenly making a very deliberate play to woo teenagers.

On Monday the social-networking site announced that it is lowering its minimum registration age from 18 to 14 in the U.S. and several other countries, opening the door for high schoolers to add LinkedIn to their already robust social-media diet of Facebook, Twitter, Instagram and Tumblr.

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Posted in * Culture-Watch, * Economics, Politics, --Social Networking, Anthropology, Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Teens / Youth, Theology, Young Adults

(CBC) In Manitoba, Converting old churches into homes

“Everyday there’s someone who comes into the store [and asks], ‘Do you know who is selling the church?’ And I said, ‘You’re looking at her’ and then the questions come, they give me their names and numbers,” Shanoha said.

[Denise] Shanoha said some, like her, want to turn the old church into a business, but she added that others have expressed interest in converting it into a residence.

Converting old churches into homes is happening in other Manitoba communities, like in Garson, where a century-old limestone building was purchased by Paul Bilsky in 2004.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Canada, Economy, Housing/Real Estate Market, Religion & Culture

(WSJ RT Economics Blog) Work or Welfare: What Pays More?

The report, by Michael Tanner and Charles Hughes, is a follow-up to Cato’s 1995 study of the subject, which found that packages of welfare benefits for a typical recipient in the 50 states and the District of Columbia not only was well above the poverty level, but also more than a recipient’s annual wages from an entry-level job.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Economy, Ethics / Moral Theology, History, Labor/Labor Unions/Labor Market, Politics in General, State Government, The U.S. Government, Theology

(Religion and Liberty) The Moral Crisis of Crony Capitalism–An interview with Peter Schweizer

R&L: Why did you want to write this book? Tell us what crony capitalism means to you and give us a sense of its greatest threat.

Peter Schweizer: I wanted to write the book because for years I’ve been involved in policy and the philosophical debate in D.C. concerning the growth and size of government. I’ve come to the conclusion that while that debate is important and needs to continue to take place, the bottom line is that whether conservatives or liberals are in charge, the government continues to expand.

We’ve got to change the incentive structure that exists in Washington, and that incentive structure is driven by cronyism, where the state and private sector intersect. If I were to define crony-capitalism, I really use the term cronyism because I don’t think that it speaks of capitalism per se, but cronyism is essentially where economic decisions in terms of who accumulates wealth and who doesn’t, is not based on merit, it’s not based on economic prowess or success or meeting needs in the marketplace. It’s based on political connections and relationships whereby you are able to either manipulate the state to your advantage, and to the disadvantage of your competitors.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Economy, Ethics / Moral Theology, History, Law & Legal Issues, Politics in General, Religion & Culture, Stock Market, The Banking System/Sector, The U.S. Government, Theology

(RNS) Church of England under fire for potential fracking profits

First it was payday lending; now fracking.

Last month, the Church of England acknowledged and regretted investing millions of pounds in a company that financially backs England’s leading payday lending company, Wonga. The company charges exorbitantly high percentage rates for loans that usually target the poor.

Now the church is under fire for taking an interest in fracking.

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Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Church of England (CoE), Corporations/Corporate Life, Economy, Energy, Natural Resources, England / UK, Ethics / Moral Theology, Religion & Culture, Science & Technology, Theology

(Behind the Storefront) Forever 21 under fire for shifting full-time employees to part time

A leaked memo from Forever 21 said it’s reducing “a number of full-time non management positions,” including stock associates, sales associates, store maintenance associates, accessory specialists and cashiers. Effective on Sunday, they would have been reclassified as part-time employees, with the memo adding their hours will not exceed 29.5 hours per week. Those employees’ existing medical, dental, vision and other voluntary plans will end on Aug. 31 and they won’t be accruing paid time off.

Ahead of the Affordable Care Act mandate requiring companies with at least 50 employees to provide health care coverage to full-time employees (anyone working at least 30 hours a week), Forever 21”²s latest move has ignited a heated debate on social media.

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Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Labor/Labor Unions/Labor Market, Theology

(NBC) Heartwarming Video–From Homeless to Howard University

Beating the odds–a young man from California learning some tough lessons about life heading to a college education; a remarkable turn of events in the last week, as Nbc’s Miguel Almaguer reports.

Watch it all.

Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Consumer/consumer spending, Economy, Education, Personal Finance, Poverty, Young Adults

Most of U.S. Is Wired, but Millions Aren’t Plugged In

Mr. [Elmer] Griffin is among the roughly 20 percent of American adults who do not use the Internet at home, work and school, or by mobile device, a figure essentially unchanged since Barack Obama took office as president in 2009 and initiated a $7 billion effort to expand access, chiefly through grants to build wired and wireless systems in neglected areas of the country.

Administration officials and policy experts say they are increasingly concerned that a significant portion of the population, around 60 million people, is shut off from jobs, government services, health care and education, and that the social and economic effects of that gap are looming larger. Persistent digital inequality ”” caused by the inability to afford Internet service, disinterest or a lack of computer literacy ”” is also deepening racial and economic disparities in the United States, experts say.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Blogging & the Internet, Economy, Ethics / Moral Theology, Personal Finance, Politics in General, Science & Technology, Theology

(SMH) Google knows what you're doing tomorrow

Google has taken the next step in its transformation from a web-search engine to the Star Trek computer. The company announced last week that it is rolling out new features that will allow you to use Google.com as, essentially, a search engine for your own information.

Until now, if you typed the words “what am I doing tomorrow” into the Google search bar, you’d get a series of web results for pages whose titles include that phrase or similar keywords. With the new features, provided you’re logged into Google and maintain a Google Calendar, you’ll see something more particular to you.

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Posted in * Culture-Watch, * Economics, Politics, Corporations/Corporate Life, Economy, Science & Technology

(Der Spiegel) Almut M̦llerРMerkel 3.0: Stasis You Can Believe In

Since the euro crisis began, many governments across Europe have been swept from power. France last year saw a presidential campaign heavily focused on Europe, and calls for alternatives to austerity have grown ever louder. So why is it that Germany, the country key to solving the euro crisis, seems immune to this polarization of views on the future of economic and monetary union?

Partly it has to do with the Greens and the Social Democrats, two opposition parties struggling to differentiate their euro policies from Merkel’s government, a coalition of her conservatives and the business friendly Free Democrats (FDP). Both the Greens and the SPD have supported all major euro rescue measures thus far. Even the Left Party, a stronger critic of the government, recently confirmed its overall commitment to the common currency. There is currently no anti-euro party in Germany parliament, with newcomers such as the euro-skeptic Alternative for Germany, media attention notwithstanding, yet to demonstrate their potential at the ballot box.

One reason is that Germans are still not feeling the pinch of the crisis. On the contrary, they continue to hear good news about strong exports, lower unemployment and economic growth. With the election looming, it is no surprise that the Merkel administration is wary of spoiling this mood of complacency by addressing the downsides of the “German model” for fellow euro-zone member states.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, Germany, Globalization, Politics in General

(NY Times) Layoffs Taboo, Japanese Workers Are Sent to the Boredom Room

For more than two years, [Shusaku Tani]… has come to a small room, taken a seat and then passed the time reading newspapers, browsing the Web and poring over engineering textbooks from his college days. He files a report on his activities at the end of each day.

Sony, Mr. Tani’s employer of 32 years, consigned him to this room because they can’t get rid of him. Sony had eliminated his position at the Sony Sendai Technology Center, which in better times produced magnetic tapes for videos and cassettes. But Mr. Tani, 51, refused to take an early retirement offer from Sony in late 2010 ”” his prerogative under Japanese labor law.

So there he sits in what is called the “chasing-out room.” He spends his days there, with about 40 other holdouts.

Read it all.

Posted in * Economics, Politics, * International News & Commentary, Anthropology, Asia, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Japan, Labor/Labor Unions/Labor Market, Theology

(CSM Editorial) Decline in marriage ”“ it’s the economy

Love and marriage. They’re hitched together, traditionally. But more and more today they’re being forced to lead separate lives.

A good marriage can yield all kinds of emotional benefits, including happiness, companionship, and even better health, according to some studies. Marriage also can serve as a strong economic foundation, with each partner supporting the other’s efforts to provide for the family.

But a new study suggests another, more detrimental link between money and marriage: Joblessness or other economic insecurity leads to fewer marriages. That not only deprives those individuals of the benefits of marriage, in a broader context it deprives society of the benefits of marriage as well.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Children, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Marriage & Family, Personal Finance, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

(RNS) Why Christians need the church: An interview with Lillian Daniel

Young people are disillusioned, disenchanted, and in some cases, downright disgusted with organized religion….[yet] in the middle of this storyline, which is quite frankly growing staler by the headline, comes Rev. Lillian Daniel and her hit book When Spiritual But Not Religious is Not Enough. It’s incredibly well-written, and though she is a liberal Protestant minister, I think her message resonates with where many conservative evangelicals are.

Daniel shares how she has seen the good and bad sides of the local church”“a BB gun-toting grandma, a rock-and-roller sexton, a worship service attended by animals and a group of theologians at Sing-Sing prison. Despite their flaws, she argues that local Christian communities play an important role in the life of faith, even though her spiritual journey extends well beyond the pews. Here we discuss why so many people want to follow Jesus without attending church and why she thinks this approach isn’t enough.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Consumer/consumer spending, Ecclesiology, Economy, Religion & Culture, Theology, Young Adults