Doug wrote:

> What contract? I don't recall signing anything
> guaranteeing me certain SS benefits. They'll
> take my money and maybe put me in jail if I
> don't pay the tax, but the level of benefits is
> entirely up to Congress.

Well, you hadn't been born.  But by being a U.S. citizen, you are
bound by the law of the land.  Contracts are always socially
constructed and socially enforced.  By being a U.S. citizen, you are
tacitly accepting the legal framework.  If you don't like the current
legal framework, then you can renounce citizenship, do politics within
the framework to alter it, or -- that failing, as Antonin Scalia has
reminded us -- lead a revolution to change it.  The laws that regulate
contracts among private parties are *also* enacted by Congress.

I asked why my deed of ownership is more binding that the Fed's
mandate to ensure "full employment" (or whatever formulation may be
coined to that end).  Doug answered:

> Well for one there's no definition of full
> employment in law or practice, while the rights
> and responsibilities of house ownership are
> well-defined.

That only begs the question of *why* some rights/obligations are
better defined than others.  Ultimately, this is a result of the
underlying balance of political forces, embedded in turn in more
fundamental economic and social conditions.

Complete contracts are impossible.  We are talking relations among
human beings, which lead to a peculiar kind of "uncertainty."  In
general, defining rights/obligations -- including those of house
owners -- is never costless.  There is always a loophole, room for
interpretation, both of the law (its letter and/or intent) and of the
facts.  Calls have to be made with lesser or greater arbitrariness.
And all that is costly.  That is why judicial systems exist.

I don't know which share of the resources allocated to the judicial
system over a given period of time are spent adjudicating disputes
among private parties, in contrast to those adjudicating conflicts
between the state and private citizens, but I'd bet that the former is
not negligible.

The issue is political power.  And, IMO, in the context of the
political struggle, it doesn't help us much to view the obligations
that private parties contract with one another as being 24-carat type
of obligations while those between the state and working people as
being debased.  We shouldn't fetishize either.

And regarding "full employment," I say, sure, let it be 5.6% for the
time being.  Why isn't the Fed taking more dramatic action to get the
economy back to, at least, this sort of "full employment"?  Again, it
is the underlying balance of political forces.  So, in the context of
this fight, should we emphasize that the eagle is bound by the gravity
or that the eagle can fly high enough if only allowed out of the cage?

To Matt Cramer's question:

> doesn't the formulation of SSA and how we talk about it help
> the political and legal configurations that ensure benefits are
> paid?

Absolutely.  How we frame, phrase, word, even think of these matters
makes what appears to be a very subtle difference at an individual
level, but that tiny difference adds up collectively.  I always go
back to Marx on these matters: Pre-Marxist materialism views
subjective activity as being confined to mere contemplation while the
Idealists seem to emphasize the active side of the subject.  In fact,
the essential activity of the human subject is its practice, our
engagement with the material world -- the creation and recreation of
that thing we call "society."  Of course, to enforce them, it is not
enough that we convince ourselves that SS obligations are sacred.  We
have to take sufficient political action to translate that belief into
a material force.  But, for sure, if we collectively believe that the
SS Act is all fiction, the public obligations that flow from it, can
be dissolved without much happening, then its repeal (or its watering
down) becomes much easier for the power that be.
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