Venezuelans find a hero in big business

“Big business” has become a favorite target of public scorn and contempt in the United States, constantly decried for its impersonal forces, cronyist lobbying efforts, and supposed greed. In Venezuela, however, the country’s largest privately owned company has become a leading face of anti-government resistance. Continue Reading...

Movie review: ‘The Founder,’ Schumpeter, and the entrepreneur

Faye Dunaway and Warren Beatty made a mistake of historic proportions at the 2017 Academy Awards, when they mistakenly awarded the Oscar for “Best Picture” to La La Land. They should have awarded it to The Founder, the new biopic about McDonald’s founder Ray Kroc which, alas, did not garner any Oscar nominations. Continue Reading...

Called to the coalfields: How an Appalachian church is spurring economic action

Due to a rapidly changing economy and a range of excessive regulations from the federal government, the American coal mining industry is facing serious challenges. For states like West Virginia, the effects are particularly painful, as mining towns and communities struggle under a projected 23% decline in related jobs in recent years, leading vast numbers of residents to leave the state altogether. Continue Reading...

5 victims of the $15 minimum wage

As protests for a $15-per-hour minimum wage continue to rage across the country, cities like Seattle and states like California and New York have already begun to adopt such schemes. But alas, prices are not play things, and such measures are bound to reap a range of deleterious effects, from raised consumer prices to increased unemployment to reduced working hours to outright business closures. Continue Reading...

Lessons from Poverty, Inc.

“An underlying theme in basic economics says, ‘offering a product for free can destroy the local economy’” writes Luis Miranda.  Miranda recently watched Poverty, Inc and since seeing the award winning Acton Institute documentary he has shared some of its lessons in an article at The Indian EconomistContinue Reading...

Pope Francis to entrepreneurs: Do good, despite what culture says

Yesterday, Pope Francis hosted a private audience in his Apostolic Palace for a few hundred international entrepreneurs and business leaders. The members of the International Christian Union of Business Executives (UNIAPAC) had gathered inside the Vatican’s walls for two days of meetings for the “noble purpose of reflecting on the role of business persons as agents of economic and social inclusion.” Pope Francis, not always an affirming supporter of free market capitalism, focused on some of his usual challenging caveats to business persons. Continue Reading...