What if there were no prices?

I’m something of a cheapskate (or as I prefer to think of myself, prudentially frugal) and so I take special pleasure in finding a good deal. I’m also, by nature, rather grateful and so I frequently thank God for helping me to find goods and services at bargain prices. Continue Reading...

Video: Lawrence Reed on real heroes

On May 18th, the spring 2017 Acton Lecture Series wrapped up with an address from Lawrence Reed, president of the Foundation for Economic Education. Reed’s talk was based on his recently released book, Real Heroes: Inspiring True Stories of Courage, Character, and Conviction. Continue Reading...

Price Controls and Communism

Note: This is post #30 in a weekly video series on basic microeconomics. What happens when price controls are used in communist countries? As Alex Tabarrok explains, all of the effects of price controls become amplified: there are even more shortages or surpluses of goods, lower product quality, longer lines and more search costs, more losses in gains from trade, and more misallocation of resources. Continue Reading...

How socialism ruined Brazil

The popularity of the Bernie Sanders’s presidential campaign revealed how popular socialism is with a large swath of Americans. But how has socialism worked out in other countries? Felipe Moura Brasil, a journalist and columnist for Veja magazine, explains how his country has fared under socialism. Continue Reading...

Video: Paul Bonicelli on Trump’s way forward after AHCA

Acton Institute Director of Programs and Education Paul Bonicelli joins host Liz Claman and columnist and pundit Ellis Henican on Fox Business Channel’s “Countdown to the Closing Bell” to discuss the way forward for President Trump after the failure of congressional Republican efforts to repeal Obamacare. Continue Reading...