Acton Institute Powerblog Archives

Acton Occasional Series

Is it cleaner to trade pollution?

Note: This is post #40 in a weekly video series on basic microeconomics. In an effort to reduce pollution, the government tried two policy prescriptions under the Clean Air Act Amendments of 1990, notes Alex Tabarrok of Marginal Revolution University. Continue Reading...

Understanding the President’s Cabinet: Director of the CIA

Note: This is the post #23 in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introduction here. Cabinet position: Director of the Central Intelligence Agency (D/CIA) (Note: This office became a cabinet-level position in February 2017.) Department:  Central Intelligence Agency (CIA) Current Director: Mike Pompeo Department Mission: “Preempt threats and further U.S. Continue Reading...

Understanding the President’s Cabinet: OMB Director

Note: This is the post #22 in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introduction here.   Cabinet position: Director of the Office of Management and Budget Department:  Office of Management and Budget (OMB) Current Director: Mick Mulvaney Department Mission: “The Office of Management and Budget (OMB) serves the President of the United States in overseeing the implementation of his vision across the Executive Branch. Continue Reading...

Bees, Pollination, and the Coase Theorem

Note: This is post #39 in a weekly video series on basic microeconomics. In this video by Marginal Revolution University, economist Alex Tabarrok shows how bees and pollination demonstrate the Coase Theorem in action: when transaction costs are low and property rights are clearly defined, private arrangements ensure that the market works even when there are externalities. Continue Reading...