Acton Institute Powerblog Archives

Post Tagged 'credit'

Alabama Church Pays Off Payday Loans

About twenty years ago I made some terrible choices and found myself in a serious financial bind. The amount I needed wasn’t much — about $200 — but without it I wouldn’t have been able to pay my rent. Continue Reading...

Why is the Episcopal Church Working as a Debt Collector?

For decades The Episcopal Church (ECUSA) has faced declining membership (in 1966, the ECUSA had 3,647,297 members; by 2013, the membership was 1,866,758, a decline of 49 percent.) But even when people are leaving the pews someone still has to pay for those pews, as well as the other overhead costs that come with running a large organization. Continue Reading...

The Economic Legacy of World War I

The Great War began 100 years ago last week. From an economic perspective (from Pulitzer Prize economist Liaquat Ahamed) the European nations paid for WWI not with taxes, but with massive debts financed largely by America. Continue Reading...

Redeeming the DIA

Most commentators, apart from Virginia Postrel and the like, seem to think that it would be tragic for the city of Detroit to lose the art collection at the Detroit Institute of Arts (DIA) in the city’s bankruptcy proceedings. Continue Reading...

A Failure to Save

Photo Credit: Alan Cleaver via Compfight cc This first appeared in my newsletter, Economic Prospect, in late 2008. Looking back after five years I still like it. The American failure to save is matched by our insistence on spending to have it all. Continue Reading...

Is Student Loan Debt an Avoidable Crisis?

At the height of the housing crisis, it was estimated that 11 million homes in America were mortgaged for more than they were worth. That debt crisis may soon be dwarfed—if it hasn’t been already—by the student loan debt problem: With college enrollment growing, student debt has stretched to a record number of U.S. Continue Reading...