North Korean regime would ‘collapse’ without free markets

Screenshot of Google Earth Satellite image of Chaeha Market in Sinuiju. Screenshot taken 11/23/2016. “If North Korea shuts downs markets, it will collapse too,” defector Cha Ri-hyuk explains. Satellite images and testimonies from those who have fled the oppressive regime of Kim Jong-un are demonstrating the power of markets. Continue Reading...

Washington showdown looms over Ex-Im Bank and cronyism

President-elect Donald Trump Sen. Lindsey Graham, Republican from South Carolina, wants to change the rules of one of the biggest crony capitalist organizations in Washington.  He wants to make it easier for the Export Import Bank to dish out large amounts of corporate welfare to companies such as Boeing, which already brings in revenues upward of $95 billion per year. Continue Reading...

What are ‘transatlantic’ values?

President Barack Obama and German Chancellor Angela MerkelPresident Barack Obama and German Chancellor Angela Merkel held their last joint press conference as heads of state on Thursday, pressing national leaders – in President Obama’s words – “not to take for granted the importance of the transatlantic alliance.” And they grounded that longstanding partnership on their conception of the bedrock principles that they believe unite North America and the EU. Continue Reading...

Are Christianity and Communism mutually exclusive?

Did Pope Francis just publicly endorse Communism? Recent comments have prompted many to suggest he has. During an interview with Eugenio Scalfari, they had the following exchange: [Scalfari:] You told me some time ago that the precept, “Love your neighbour as thyself” had to change, given the dark times that we are going through, and become “more than thyself.” So you yearn for a society where equality dominates. Continue Reading...

Musings from Nobel Laureate Vernon L. Smith

Vernon L. Smith speaks to Samuel Gregg at Acton University. UPDATE: The full interview is now available online. ### In June, Nobel economist Vernon L. Smith gave an Acton University speech titled “Faith and the Compatibility of Science and Religion.” While he was in Grand Rapids, he sat down with Victor V. Continue Reading...