Debt, Welfare and the Road to Serfdom

Simon Johnson and Peter Boone wrote an interesting article the UK Telegraph Saturday called “The New Feudal Overlords of Europe will be the bankers of the ECB.” Johnson is also the co-author along with James Kwak of a thoughtful and provocative book 13 Bankers as well as a blog on economics. Continue Reading...

Europe’s Monetary Sins

Over at Public Discourse, a new article by Acton’s research director Samuel Gregg examines the deeper reasons behind the problems of the euro. In “Europe’s Monetary Sins,” Gregg points out that many of the euro’s present difficulties reflect a basic refusal of Europe’s political class to acknowledge some of the unpleasant economic realities associated with the EU’s social model, as well as a tendency to say one thing while really doing another. Continue Reading...

Review: The Battle

At the start of Washington’s unprecedented federal interventionism into the private sector and on the heels of a Newsweek cover heralding that “We Are All Socialists Now,” there was considerable angst that free market defenders had forever lost the public. Continue Reading...

Eritrea: Remember the Prisoners

HT: InChainsForChrist.org From OBL News (5/19/10): Abba Seraphim will join a protest vigil to “Stand in Solidarity with Eritrean Christians” outside the Eritrean Embassy between 3-4 pm on Thursday, 3 June. Continue Reading...

Missing the Boat on the Tea Parties

I had been scheduled to appear opposite Ray Nothstine at the most recent Acton on Tap last month to discuss the question: Are Tea Parties good for America? I had to miss that event, unfortunately, but this week’s Acton Commentary represents my belated engagement on these matters. Continue Reading...

Berlinski Responds to Radosh

If you read this post about Claire Berlinski’s recent article in City Journal, and the follow-up post calling attention to Ron Radosh’s critique of the article, then you may be interested in Berlinski’s return volley here. Continue Reading...

Radosh Responds to Berlinski

I recommended a Claire Berlinski article last Thursday. Ron Radosh forcefully calls into question several elements of the Berlinski piece, though her central claim seems to me to remain intact: While the Nazis are widely and duly vilified, far too many in the West continue to excuse, minimize or ignore the activities of the Soviet communists. Continue Reading...

Wealth: What is it good for?

On the Economix blog at the New York Times, Uwe E. Reinhardt wrote a post titled “How Businesses Create Wealth.” That elicited attention from a commenter who wondered where he was “trying to go with this essay.” Reinhardt, an economics professor at Princeton, answers with “Companies: What Are They Good For?” He also cites an article from Acton’s Journal of Markets & Morality: “A Communitarian Model of Business: A Natural-Law Perspective.” Reinhardt: Actually, I was not trying to go anywhere with my analysis, other than to point out that businesses create value and wealth beyond the usually narrow slice that accrues strictly to the owners. Continue Reading...

Debt and Politics

Though the Greek Debt crisis may seem far away, here is a sobering article by Kevin Hassett at Bloomberg. Greece’s Bailout Heroes arrive in Leaking Boats Those countries coordinating the $1Trillion bailout of Greece find themselves in similar trouble. Continue Reading...