Yes, Markets Matter - But More Than This?
Markets matter, but we've lately tried to put their importance in our lives in some sort of context. More of that today, as we reference the Constitution. We'll refrain from judgment, but not from requesting your attention and consideration. At the end of the quote below, you'll see why it's so important that we not dismiss this issue.
The fact is, our money will only get us so far in this life. Frankly, it's prime purpose should be to provide us with food, clothing, and shelter - if we can't create these for ourselves, which most of us in this contemporary world can't. Beyond those basics, what's it for?
Well, that's a question each of us can only answer for ourselves. I know folks whose entire existence has been to "retire" and relax and travel a lot. Does this appeal to you? If so, then you need to get your money in shape to help you do those things - or whatever else it is you want money to do for you.
But whatever you want money to do for you, it'll be a lot harder in a world where rule of law falls by the wayside. If you know about/study countries today, or past civilizations where rule of law didn't really exist, you'll understand why it's so important. Important if you want to be able to save your money to help you do what you think is important in your life. Without rule of law, anything, maybe everything, can be snatched away from you - either over time or in heartbeat. There are just so many examples of this, you'd think most folks would understand. But apparently some don't.
For example, there's a growing contingency of people who think the Constitution is old hat, written for a time long past, needs either reforming or even replacement. Question: replaced with what?
Anyway, we're not going past this point today. We'll toss the ball to attorney Jonathan Turley who recently published a piece on the Constitution that's worth consideration and serious thought:
Here is an excerpt:
If nothing else, the Constitution has one thing to recommend it: we are still here. It is a Constitution that has survived economic and political upheavals. It survived a Civil War in which hundreds of thousands were killed.
It is not a particularly poetic document. It was written by the ultimate wonk, James Madison. If you want truly inspirational prose, try any of the French constitutions. Of course, they had more practice since they regularly failed. Other countries based their constitutions on aspirational statements of the values that we shared. The Madisonian system spent as much time on what divided us; it not only recognized the danger of factions but created a system to bring such divisions to the surface where they could be addressed.
The danger of other systems was realized when these divisions were left below the surface where they would fester and explode in the streets of Paris. The American Constitution allowed for a type of controlled implosion toward the center of the system; these factional interests would be expressed and vented in the legislative branch. The Madisonian system does not hide our divisions; it invites their expression.
The question is whether we have reached a time when the things that divide us will now overcome what unites us. This is not our first age of rage. Indeed, at the start of our Republic, rivaling parties were not just figuratively trying to kill each other; they were actually trying to kill each other through laws like the Alien and Sedition Acts. Thomas Jefferson would refer to the term of his predecessor John Adams as “the reign of the witches.”
Yet, that history is no guarantee that it can survive our current age of rage. The relentless attacks on the constitution from the political, media, and academic elite has turned many into constitutional atheists. Yet, the future of our constitutional system may rest with the rising number of constitutional agnostics — those citizens who are simply disconnected or disinterested in the defense of our founding principles.
Philosopher John Stuart Mill warned in 1867 that all it takes for evil to prevail is for “good men [to] look on and do nothing.”
We are now in an existential struggle to preserve the values that founded the most successful constitutional system in the history of the world.
It is our legacy that now can be either boldly defended by a grateful people or lost in the whimper of a disinterested generation.
If you think the Constitution has so many flaws, it needs jettisoning, let's hope you've actually taken the time to know what it says. The article above tries to illustrate what's its done to allow us to live our lives with some effective rule of law.
So, sure, market matter. But how much would they matter in a world without rule of law?
Comments