Economics

July 07, 2014

Reclaiming the Honor of Craftsmanship

As economic prosperity has increased, and as the American economy has transitioned from agrarian to industrial to information-driven, manual labor has been increasingly cast down in the popular imagination. When our youth navigate and graduate from high school, they receive pressure from all directions to excel in particular areas and attend a four-year college, typically in pursuit of “white-collar” work. Continue Reading...

July 07, 2014

The Economic Legacy of World War I

The Great War began 100 years ago last week. From an economic perspective (from Pulitzer Prize economist Liaquat Ahamed) the European nations paid for WWI not with taxes, but with massive debts financed largely by America. Continue Reading...

July 02, 2014

Radio Free Acton: Walter E. Williams, Frederic Bastiat, and American Political Culture

It’s time again for another edition of Radio Free Acton, and we think this one is well worth the listen. Today, Paul Edwards talks with scholar, author, economist, occasional guest host of the nation’s largest talk radio show and all-around great guy Dr. Continue Reading...

July 02, 2014

What Christians Should Know About Comparative Advantage

Note: This is the latest entry in the Acton blog series, “What Christians Should Know About Economics.” For other entries in the series see this post. The Term: Comparative advantage What it Means: The ability of an individual or group of individual (e.g., Continue Reading...

June 30, 2014

Justice Alito: ‘For-Profit’ Businesses Pursue More Than Material Gain

In a 5-4 decision, the Supreme Court just announced its ruling in favor of Hobby Lobby, holding that, “as applied to closely held corporations, the government’s HHS regulations imposing the contraceptive mandate violate the Religious Freedom Restoration Act of 1993 (RFRA).” Continue Reading...

June 26, 2014

The Disease of Self-Chosen Sacrifice

In our efforts to serve others and do good in the world, we humans have a remarkable tendency to fall short, no matter how carefully constructed or well intended our plans and designs may be. Continue Reading...

June 26, 2014

The Moral Value of Economic Growth

In 1820, America’s per capita income averaged $1,980, in today’s dollars. But by 2000, it had increased to $43,000. That economic growth has benefited the rich, of course. But it has also transformed the lives of the poor — and prevented many more from becoming or staying poor. Continue Reading...

June 25, 2014

A Cultural Case for Capitalism: Part 10 of 12 — The Free Market that Wasn’t

[Part 1 is here.] Some might answer any defense of the free economy by pointing to the housing and financial crisis that came to a head in 2008, holding it up as proof positive the free economy is a wrecking ball swinging through communities and leaving all manner of economic and cultural destruction in its wake. Continue Reading...

June 24, 2014

Regulators Brewing More Rules for Craft Beer Makers

It seems like nowadays everyone has a connection to someone who brews their own beer. Grand Rapids recently was named Beer City because of its lively microbrewery scene so this is especially true here. Continue Reading...

June 23, 2014

Now Available: ‘Integrated Justice and Equality’ by John Addison Teevan

Christian’s Library Press has released Integrated Justice and Equality: Biblical Wisdom for Those Who Do Good Works by John Addison Teevan, a book that seeks to challenge popular notions of “social justice” and establish a new framework around what Teevan calls “biblically integrated justice.” Continue Reading...

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