Speaker John Medaille educates students on the economy from the past to the present
On Friday, November 7, students were packed into the Fuller Auditorium, located in the Testa Science Center eager to learn more about the economy from John Médaille.
Although Médaille is an instructor of philosophy at the University of Dallas, he is self-taught in the discipline of economics. The topic of the lecture, “Political Economy and the Welfare State: From Middle Ages to Obamacare” gave people the impression that Médaille would cover the progression of the economy over the years; however, this was only partially true.
“Many believed that economics had to do with law,” he said when he first started to explain the upcoming of economics.
In 1776, justice was used in the wealth of nations and then soon in 1891, the principles of economics were published. However, after talking about the backgrounds of economics, he jumped right to the topic of today’s economic problems.
Médaille had been paying attention to the economy and how it has been struggling for the past few years. He noticed how there are many people who blame the person running the country—Democrat or Republican—for the economy’s lack of success.
“A nation state will follow its own nature, no matter who is in charge,” he said.
The problem is that we blame the person who is running the country, rather than everyone in the country as a whole. Many people struggle with being ethical, which is causing corruption in the government and even other people who are involved in the economy.
“Here’s ethics and here is economics, that is the whole problem. My job is to show how the two relate to each other,” said Médaille.
Many would say that the country as a whole should separate the idea of economics and politics however; it is too late to make that change.
“It is not politically possible to separate economy and politics at this point,” Médaille said.
Médaille believes that the country as a whole should rebuild from the bottom up and not the top down because it would be more successful.
“[L]earn to be your own person because it is the most valuable thing,” he advised.
Many people seemed very interested in what he had to say because he had made some very good points about the economy. When asked if he was interested in economics, Médaille said he was forced to talk about it because his true passion of ethics is tied closely to economics and he feels that people should learn about both economics and ethics.
After the lecture the audience felt enlightened; some felt like we were doomed to a poor economy in the future.
“[I] was a little disappointed that the lecturer didn’t speak about how the economy/political community in the Middle Ages related to the present and the ACA, but he was still very influential speaker,” said sophomore Ryan Del Mastro.
Del Mastro also recalled that Médaille gave the students and professors a sense of doom and another student agreed with his statement.
“First of all his facial hair was on point, but I thought his views on localism were very interesting and inspiring,” said sophomore Sarah Leary. “While I am not sure that we’ll reach the type of doomsday that he predicted, I think participating more in your local government and becoming more active in the community in your own way is something that people should start trying to do.”
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