Market and Government Failure

An essay of mine appears today over at the First Things website as part of their “On the Square: Observations & Contentions” feature. In “Between Market and State,” I explore the dialectic logic of market and government “failure,” which functions in part to provide us with a false dilemma: our solution to social problems must lie with either “market” or “state.” I work out this logic in the context of the sub-prime mortgage crisis, and conclude that non-profits play a critical role as mediating institutions that are not driven in the first place by profit motives. Continue Reading...

A Micro-Lending Prelate

Zenit reports a new initiative by Cardinal Crescenzio Sepe of Naples, Italy: “he is donating a year’s stipend and part of his personal savings to initiate a diocesan bank that will offer micro-credits to the poor.” I like two things about this project. Continue Reading...

PBR: Ministries that Matter

Starting this year, the Acton Institute is planning to give out the Samaritan Award every other year. This will allows us to better streamline the award process as well as to more smoothly integrate the results of the award into our Samaritan Guide database. Continue Reading...

David W. Miller interviewed on PBS

Dr. David W. Miller, who was interviewed in Religion & Liberty for the Winter 2008 issue, was recently on a PBS program discussing corporate morality. Here is a portion of the PBS interview which relates to the theme in Acton’s R&L interview titled “Theology at Work: Faithful Living in the Marketplace:” (anchor) ABERNETHY: You, as I said, you used to work in the financial business. Continue Reading...

The Tax Code: Business as Usual

In this week’s Acton Commentary, I argue for simplifying the tax code. It should also be evident that any sort of tax reform should coincide with reforming the way Washington currently operates when it comes to spending. Continue Reading...

PBR: A Cautionary Tale

AS NYT columnist Frank Rich observed earlier this week, it’s hard to find much sympathy for Rick Wagoner. “Sure, Rick Wagoner deserved his fate,” writes Rich. “He did too little too late to save an iconic American institution from devolving into a government charity case.” The delusions of the CEOs who lined up on Capitol Hill last year to lobby for bailouts extended beyond the arrogance of flying to congressional meetings in private jets. Continue Reading...

Warren on the Faith-Based Initiative

In a wide-ranging interview with Christianity Today, Rick Warren discussed his view of the new vision for the faith-based initiative. Here’s that Q&A: Have you paid attention to the new faith-based initiatives released by President Obama and Joshua DuBois focusing on the four issues of responsible fatherhood, reducing unintended pregnancies, increasing interfaith dialogue, and reducing poverty? Continue Reading...