Golden Rule

The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems
Author: Thomas Ferguson
Publisher: University of Chicago Press
ISBN: 022616201X
Category: Political Science
Page: 440
View: 9408
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"To discover who rules, follow the gold." This is the argument of Golden Rule, a provocative, pungent history of modern American politics. Although the role big money plays in defining political outcomes has long been obvious to ordinary Americans, most pundits and scholars have virtually dismissed this assumption. Even in light of skyrocketing campaign costs, the belief that major financial interests primarily determine who parties nominate and where they stand on the issues—that, in effect, Democrats and Republicans are merely the left and right wings of the "Property Party"—has been ignored by most political scientists. Offering evidence ranging from the nineteenth century to the 1994 mid-term elections, Golden Rule shows that voters are "right on the money." Thomas Ferguson breaks completely with traditional voter centered accounts of party politics. In its place he outlines an "investment approach," in which powerful investors, not unorganized voters, dominate campaigns and elections. Because businesses "invest" in political parties and their candidates, changes in industrial structures—between large firms and sectors—can alter the agenda of party politics and the shape of public policy. Golden Rule presents revised versions of widely read essays in which Ferguson advanced and tested his theory, including his seminal study of the role played by capital intensive multinationals and international financiers in the New Deal. The chapter "Studies in Money Driven Politics" brings this aspect of American politics into better focus, along with other studies of Federal Reserve policy making and campaign finance in the 1936 election. Ferguson analyzes how a changing world economy and other social developments broke up the New Deal system in our own time, through careful studies of the 1988 and 1992 elections. The essay on 1992 contains an extended analysis of the emergence of the Clinton coalition and Ross Perot's dramatic independent insurgency. A postscript on the 1994 elections demonstrates the controlling impact of money on several key campaigns. This controversial work by a theorist of money and politics in the U.S. relates to issues in campaign finance reform, PACs, policymaking, public financing, and how today's elections work.

Golden Rule

The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems
Author: Thomas Ferguson
Publisher: University of Chicago Press
ISBN: 9780226243160
Category: Business & Economics
Page: 432
View: 778
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"To discover who rules, follow the gold." This is the argument of Golden Rule, a provocative, pungent history of modern American politics. Although the role big money plays in defining political outcomes has long been obvious to ordinary Americans, most pundits and scholars have virtually dismissed this assumption. Even in light of skyrocketing campaign costs, the belief that major financial interests primarily determine who parties nominate and where they stand on the issues—that, in effect, Democrats and Republicans are merely the left and right wings of the "Property Party"—has been ignored by most political scientists. Offering evidence ranging from the nineteenth century to the 1994 mid-term elections, Golden Rule shows that voters are "right on the money." Thomas Ferguson breaks completely with traditional voter centered accounts of party politics. In its place he outlines an "investment approach," in which powerful investors, not unorganized voters, dominate campaigns and elections. Because businesses "invest" in political parties and their candidates, changes in industrial structures—between large firms and sectors—can alter the agenda of party politics and the shape of public policy. Golden Rule presents revised versions of widely read essays in which Ferguson advanced and tested his theory, including his seminal study of the role played by capital intensive multinationals and international financiers in the New Deal. The chapter "Studies in Money Driven Politics" brings this aspect of American politics into better focus, along with other studies of Federal Reserve policy making and campaign finance in the 1936 election. Ferguson analyzes how a changing world economy and other social developments broke up the New Deal system in our own time, through careful studies of the 1988 and 1992 elections. The essay on 1992 contains an extended analysis of the emergence of the Clinton coalition and Ross Perot's dramatic independent insurgency. A postscript on the 1994 elections demonstrates the controlling impact of money on several key campaigns. This controversial work by a theorist of money and politics in the U.S. relates to issues in campaign finance reform, PACs, policymaking, public financing, and how today's elections work.

Golden Rule

The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems
Author: Thomas Ferguson
Publisher: University of Chicago Press
ISBN: 9780226243177
Category: Business & Economics
Page: 432
View: 2348
DOWNLOAD NOW »
"To discover who rules, follow the gold." This is the argument of Golden Rule, a provocative, pungent history of modern American politics. Although the role big money plays in defining political outcomes has long been obvious to ordinary Americans, most pundits and scholars have virtually dismissed this assumption. Even in light of skyrocketing campaign costs, the belief that major financial interests primarily determine who parties nominate and where they stand on the issues—that, in effect, Democrats and Republicans are merely the left and right wings of the "Property Party"—has been ignored by most political scientists. Offering evidence ranging from the nineteenth century to the 1994 mid-term elections, Golden Rule shows that voters are "right on the money." Thomas Ferguson breaks completely with traditional voter centered accounts of party politics. In its place he outlines an "investment approach," in which powerful investors, not unorganized voters, dominate campaigns and elections. Because businesses "invest" in political parties and their candidates, changes in industrial structures—between large firms and sectors—can alter the agenda of party politics and the shape of public policy. Golden Rule presents revised versions of widely read essays in which Ferguson advanced and tested his theory, including his seminal study of the role played by capital intensive multinationals and international financiers in the New Deal. The chapter "Studies in Money Driven Politics" brings this aspect of American politics into better focus, along with other studies of Federal Reserve policy making and campaign finance in the 1936 election. Ferguson analyzes how a changing world economy and other social developments broke up the New Deal system in our own time, through careful studies of the 1988 and 1992 elections. The essay on 1992 contains an extended analysis of the emergence of the Clinton coalition and Ross Perot's dramatic independent insurgency. A postscript on the 1994 elections demonstrates the controlling impact of money on several key campaigns. This controversial work by a theorist of money and politics in the U.S. relates to issues in campaign finance reform, PACs, policymaking, public financing, and how today's elections work.

Golden Rule

The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems
Author: Thomas Ferguson
Publisher: University of Chicago Press
ISBN: 022616201X
Category: Political Science
Page: 440
View: 2984
DOWNLOAD NOW »
"To discover who rules, follow the gold." This is the argument of Golden Rule, a provocative, pungent history of modern American politics. Although the role big money plays in defining political outcomes has long been obvious to ordinary Americans, most pundits and scholars have virtually dismissed this assumption. Even in light of skyrocketing campaign costs, the belief that major financial interests primarily determine who parties nominate and where they stand on the issues—that, in effect, Democrats and Republicans are merely the left and right wings of the "Property Party"—has been ignored by most political scientists. Offering evidence ranging from the nineteenth century to the 1994 mid-term elections, Golden Rule shows that voters are "right on the money." Thomas Ferguson breaks completely with traditional voter centered accounts of party politics. In its place he outlines an "investment approach," in which powerful investors, not unorganized voters, dominate campaigns and elections. Because businesses "invest" in political parties and their candidates, changes in industrial structures—between large firms and sectors—can alter the agenda of party politics and the shape of public policy. Golden Rule presents revised versions of widely read essays in which Ferguson advanced and tested his theory, including his seminal study of the role played by capital intensive multinationals and international financiers in the New Deal. The chapter "Studies in Money Driven Politics" brings this aspect of American politics into better focus, along with other studies of Federal Reserve policy making and campaign finance in the 1936 election. Ferguson analyzes how a changing world economy and other social developments broke up the New Deal system in our own time, through careful studies of the 1988 and 1992 elections. The essay on 1992 contains an extended analysis of the emergence of the Clinton coalition and Ross Perot's dramatic independent insurgency. A postscript on the 1994 elections demonstrates the controlling impact of money on several key campaigns. This controversial work by a theorist of money and politics in the U.S. relates to issues in campaign finance reform, PACs, policymaking, public financing, and how today's elections work.

Right Turn

The Decline of the Democrats and the Future of American Politics
Author: Thomas Ferguson,Joel Rogers
Publisher: Macmillan
ISBN: 9780809001705
Category: Political Science
Page: 288
View: 3632
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The Hidden election

politics and economics in the 1980 presidential campaign
Author: Thomas Ferguson,Joel Rogers
Publisher: Pantheon
ISBN: N.A
Category: Political Science
Page: 342
View: 1418
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Eight essays analyze the political and economic underpinnings of the 1980 presidential election and focus on relations between the power centers in American society and political events

Money and Free Speech

Campaign Finance Reform and the Courts
Author: Melvin I. Urofsky
Publisher: N.A
ISBN: N.A
Category: Law
Page: 323
View: 6464
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Money greases the wheels of American politics from the local level to the White House. In the 2004 presidential campaign, President George W. Bush alone raised nearly $400 million in private and public funds—nearly twenty times the combined total raised by John Kennedy and Richard Nixon in 1960—to defeat challenger John F. Kerry, further fueling anxiety over the power of money to dictate political results. Melvin Urofsky, one of our nation's most respected legal historians, takes a fresh look at efforts to rein in campaign spending and counter efforts in the courts to preserve the status quo. He offers a thoughtful and balanced overview of campaign finance reform and the legal responses to it, from the Progressive era through the Supreme Court's landmark ruling in McConnell v. FEC (2003) and its impact on the 2004 election. Urofsky focuses especially on the 1971 Federal Election Campaign Act and 2002 McCain-Feingold or Bipartisan Campaign Reform Act (BCRA), and on challenges to both in the Supreme Court. In Buckley v. Valeo (1976), the Court upheld contribution limits but struck down expenditure caps on First Amendment grounds. In McConnell it upheld the key provisions of McCain-Feingold. In both cases, however, opponents argued that congressional control of campaign financing was an unconstitutional infringement of the free speech rights of campaign contributors. Urofsky deftly steers the reader through this contentious and complex history, revealing how both Congress and the courts have navigated uneasily between the Scylla of potential corruption and the Charybdis of suppressing political speech. Ironically, despite the Court's decision upholding McCain-Feingold, the 2004 presidential election was the most expensive in history—because, as Urofsky notes, money is the mother's milk of politics and both candidates and donors will always find ways to keep it flowing. His book provides an excellent and succinct guide to the controversies and historical debates emerging from that fact.

Cyclopaedia of Political Science, Political Economy, and of the Political History of the United States


Author: John Joseph Lalor
Publisher: N.A
ISBN: N.A
Category: Economics
Page: N.A
View: 7072
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Why Parties?

A Second Look
Author: John H. Aldrich
Publisher: University of Chicago Press
ISBN: 0226012751
Category: Political Science
Page: 400
View: 3735
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Since its first appearance fifteen years ago, Why Parties? has become essential reading for anyone wishing to understand the nature of American political parties. In the interim, the party system has undergone some radical changes. In this landmark book, now rewritten for the new millennium, John H. Aldrich goes beyond the clamor of arguments over whether American political parties are in resurgence or decline and undertakes a wholesale reexamination of the foundations of the American party system. Surveying critical episodes in the development of American political parties—from their formation in the 1790s to the Civil War—Aldrich shows how they serve to combat three fundamental problems of democracy: how to regulate the number of people seeking public office, how to mobilize voters, and how to achieve and maintain the majorities needed to accomplish goals once in office. Aldrich brings this innovative account up to the present by looking at the profound changes in the character of political parties since World War II, especially in light of ongoing contemporary transformations, including the rise of the Republican Party in the South, and what those changes accomplish, such as the Obama Health Care plan. Finally, Why Parties? A Second Look offers a fuller consideration of party systems in general, especially the two-party system in the United States, and explains why this system is necessary for effective democracy.

Democracy for Realists

Why Elections Do Not Produce Responsive Government
Author: Christopher H. Achen,Larry M. Bartels
Publisher: Princeton University Press
ISBN: 1400888743
Category: Political Science
Page: 408
View: 1955
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Democracy for Realists assails the romantic folk-theory at the heart of contemporary thinking about democratic politics and government, and offers a provocative alternative view grounded in the actual human nature of democratic citizens. Christopher Achen and Larry Bartels deploy a wealth of social-scientific evidence, including ingenious original analyses of topics ranging from abortion politics and budget deficits to the Great Depression and shark attacks, to show that the familiar ideal of thoughtful citizens steering the ship of state from the voting booth is fundamentally misguided. They demonstrate that voters—even those who are well informed and politically engaged—mostly choose parties and candidates on the basis of social identities and partisan loyalties, not political issues. They also show that voters adjust their policy views and even their perceptions of basic matters of fact to match those loyalties. When parties are roughly evenly matched, elections often turn on irrelevant or misleading considerations such as economic spurts or downturns beyond the incumbents' control; the outcomes are essentially random. Thus, voters do not control the course of public policy, even indirectly. Achen and Bartels argue that democratic theory needs to be founded on identity groups and political parties, not on the preferences of individual voters. Now with new analysis of the 2016 elections, Democracy for Realists provides a powerful challenge to conventional thinking, pointing the way toward a fundamentally different understanding of the realities and potential of democratic government.

The General Theory of Employment, Interest, and Money


Author: John Maynard Keynes
Publisher: Springer
ISBN: 3319703447
Category: Business & Economics
Page: 404
View: 9052
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This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

The Logic of Political Survival


Author: Bruce Bueno de Mesquita,Alastair Smith,Randolph M. Siverson,James D. Morrow
Publisher: MIT Press
ISBN: 0262261774
Category: Political Science
Page: 550
View: 1692
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The authors of this ambitious book address a fundamental political question: why are leaders who produce peace and prosperity turned out of office while those who preside over corruption, war, and misery endure? Considering this political puzzle, they also answer the related economic question of why some countries experience successful economic development and others do not. The authors construct a provocative theory on the selection of leaders and present specific formal models from which their central claims can be deduced. They show how political leaders allocate resources and how institutions for selecting leaders create incentives for leaders to pursue good and bad public policy. They also extend the model to explain the consequences of war on political survival. Throughout the book, they provide illustrations from history, ranging from ancient Sparta to Vichy France, and test the model against statistics gathered from cross-national data. The authors explain the political intuition underlying their theory in nontechnical language, reserving formal proofs for chapter appendixes. They conclude by presenting policy prescriptions based on what has been demonstrated theoretically and empirically.

Postcapitalism

A Guide to Our Future
Author: Paul Mason
Publisher: Farrar, Straus and Giroux
ISBN: 0374710694
Category: Business & Economics
Page: 368
View: 2111
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We know that our world is undergoing seismic change—but how can we emerge from the crisis a fairer, more equal society? Over the past two centuries or so, capitalism has undergone profound changes—economic cycles that veer from boom to bust—from which it has always emerged transformed and strengthened. Surveying this turbulent history, Paul Mason’s Postcapitalism argues that we are on the brink of a change so big and so profound that this time capitalism itself, the immensely complex system within which entire societies function, will mutate into something wholly new. At the heart of this change is information technology, a revolution that is driven by capitalism but, with its tendency to push the value of much of what we make toward zero, has the potential to destroy an economy based on markets, wages, and private ownership. Almost unnoticed, in the niches and hollows of the market system, swaths of economic life are beginning to move to a different rhythm. Vast numbers of people are changing how they behave and live, in ways contrary to the current system of state-backed corporate capitalism. And as the terrain changes, new paths open. In this bold and prophetic book, Mason shows how, from the ashes of the crisis, we have the chance to create a more socially just and sustainable economy. Although the dangers ahead are profound, he argues that there is cause for hope. This is the first time in human history in which, equipped with an understanding of what is happening around us, we can predict and shape the future.

Monetary Economies of Production

Banking and Financial Circuits and the Role of the State
Author: Louis-Philippe Rochon,Mario Seccareccia
Publisher: Edward Elgar Publishing
ISBN: 1781003955
Category: Business & Economics
Page: 304
View: 6517
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With its central focus on money and its link with the production sphere, this book explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the productive apparatus

Issues in American Politics

Polarized politics in the age of Obama
Author: John Dumbrell
Publisher: Routledge
ISBN: 1134059159
Category: Political Science
Page: 196
View: 2750
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This wide ranging book provides readers with a reliable and lively guide to contemporary American political practices, processes and institutions. Essays in the proposed volume will cover phenomena such as the Tea Party upsurge in the Republican Party, Obama’s health care reforms, recent changes to campaign funding emanating from the key Citizens’ United Supreme Court decision, US foreign policy after the War on Terror, Obama's presidential strategy and issues relating to polarisation and partisanship in US politics. This work is essential reading for all students of American Politics and US Foreign Policy.

The Wretched of the Earth


Author: Frantz Fanon
Publisher: Grove/Atlantic, Inc.
ISBN: 9780802198853
Category: Political Science
Page: 320
View: 8855
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Frantz Fanon was one of the twentieth century’s most important theorists of revolution, colonialism, and racial difference, and this, his masterwork, is a classic alongside Orientalism and The Autobiography of Malcolm X. The Wretched of the Earth is a brilliant analysis of the psychology of the colonized and their path to liberation. Bearing singular insight into the rage of colonized peoples and the role of violence in historical change, the book also incisively attacks postindependence disenfranchisement of the masses by the elite on one hand, and intertribal and interfaith animosities on the other. A veritable handbook of social reorganization for leaders of emerging nations, The Wretched of the Earth has had a major impact on civil rights, anticolonialism, and black-consciousness movements around the world. This new translation updates its language for a new generation of readers and its lessons are more vital now than ever.

The Death and Life of Great American Cities


Author: Jane Jacobs
Publisher: Vintage
ISBN: 052543285X
Category: Social Science
Page: 480
View: 9657
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Thirty years after its publication, The Death and Life of Great American Cities was described by The New York Times as "perhaps the most influential single work in the history of town planning....[It] can also be seen in a much larger context. It is first of all a work of literature; the descriptions of street life as a kind of ballet and the bitingly satiric account of traditional planning theory can still be read for pleasure even by those who long ago absorbed and appropriated the book's arguments." Jane Jacobs, an editor and writer on architecture in New York City in the early sixties, argued that urban diversity and vitality were being destroyed by powerful architects and city planners. Rigorous, sane, and delightfully epigrammatic, Jacobs's small masterpiece is a blueprint for the humanistic management of cities. It is sensible, knowledgeable, readable, indispensable. The author has written a new foreword for this Modern Library edition.

Capital and Collusion

The Political Logic of Global Economic Development
Author: Hilton L. Root
Publisher: Princeton University Press
ISBN: 140088019X
Category: Business & Economics
Page: 352
View: 8690
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Why does capital formation often fail to occur in developing countries? Capital and Collusion explores the political incentives that either foster growth or steal nations' growth prospects. Hilton Root examines the frontier between risk and uncertainty, analyzing the forces driving development in both developed and undeveloped regions. In the former, he argues, institutions reduce everyday economic risks to levels low enough to make people receptive to opportunities for profit, stimulating developments in technology and science. Not so in developing countries. There, institutions that specialize in sharing risk are scarce. Money hides under mattresses and in teapots, creating a gap between a poor nation's savings and its investment. As a consequence, the developing world faces a growing disconnect between the value of its resources and the availability of finance. What are the remedies for eliminating this disparity? Root shows us how to close the growing wealth gap among nations by building institutions that convert uncertainty into risk. Comparing China to India, Latin America to East Asia, and contemporary to historical cases, he offers lessons that can help the World Bank and the International Monetary Fund to tackle the political incentives that are the source of poor governance in developing nations.

The Strategic Constitution


Author: Robert Cooter
Publisher: Princeton University Press
ISBN: 9780691096209
Category: Law
Page: 412
View: 5212
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Making, amending, and interpreting constitutions is a political game that can yield widespread suffering or secure a nation's liberty and prosperity. Given these high stakes, Robert Cooter argues that constitutional theory should trouble itself less with literary analysis and arguments over founders' intentions and focus much more on the real-world consequences of various constitutional provisions and choices. Pooling the best available theories from economics and political science, particularly those developed from game theory, Cooter's economic analysis of constitutions fundamentally recasts a field of growing interest and dramatic international importance. By uncovering the constitutional incentives that influence citizens, politicians, administrators, and judges, Cooter exposes fault lines in alternative forms of democracy: unitary versus federal states, deep administration versus many elections, parliamentary versus presidential systems, unicameral versus bicameral legislatures, common versus civil law, and liberty versus equality rights. Cooter applies an efficiency test to these alternatives, asking how far they satisfy the preferences of citizens for laws and public goods. To answer Cooter contrasts two types of democracy, which he defines as competitive government. The center of the political spectrum defeats the extremes in "median democracy," whereas representatives of all the citizens bargain over laws and public goods in "bargain democracy." Bargaining can realize all the gains from political trades, or bargaining can collapse into an unstable contest of redistribution. States plagued by instability and contests over redistribution should move towards median democracy by increasing transaction costs and reducing the power of the extremes. Specifically, promoting median versus bargain democracy involves promoting winner-take-all elections versus proportional representation, two parties versus multiple parties, referenda versus representative democracy, and special governments versus comprehensive governments. This innovative theory will have ramifications felt across national and disciplinary borders, and will be debated by a large audience, including the growing pool of economists interested in how law and politics shape economic policy, political scientists using game theory or specializing in constitutional law, and academic lawyers. The approach will also garner attention from students of political science, law, and economics, as well as policy makers working in and with new democracies where constitutions are being written and refined.

The Joy of the Gospel

Evangelii Gaudium
Author: Pope Francis
Publisher: Image
ISBN: 0553419544
Category: Religion
Page: 224
View: 868
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The perfect gift! A specially priced, beautifully designed hardcover edition of The Joy of the Gospel with a foreword by Robert Barron and an afterword by James Martin, SJ. “The joy of the gospel fills the hearts and lives of all who encounter Jesus… In this Exhortation I wish to encourage the Christian faithful to embark upon a new chapter of evangelization marked by this joy, while pointing out new paths for the Church’s journey in years to come.” – Pope Francis This special edition of Pope Francis's popular message of hope explores themes that are important for believers in the 21st century. Examining the many obstacles to faith and what can be done to overcome those hurdles, he emphasizes the importance of service to God and all his creation. Advocating for “the homeless, the addicted, refugees, indigenous peoples, the elderly who are increasingly isolated and abandoned,” the Holy Father shows us how to respond to poverty and current economic challenges that affect us locally and globally. Ultimately, Pope Francis demonstrates how to develop a more personal relationship with Jesus Christ, “to recognize the traces of God’s Spirit in events great and small.” Profound in its insight, yet warm and accessible in its tone, The Joy of the Gospel is a call to action to live a life motivated by divine love and, in turn, to experience heaven on earth. Includes a foreword by Robert Barron, author of Catholicism: A Journey to the Heart of the Faith and James Martin, SJ, author of Jesus: A Pilgrimage From the Hardcover edition.