Posts tagged with: economics

300px-GeocentrismGeocentrism was the belief that the sun, the planets, and all the stars revolve around the Earth. The alternative view—heliocentricism—had been around since the 3 BC but was not taken seriously until the 16th century AD. What seems obvious to us now was a matter of heated debated for almost two thousand years.

Economist Don Boudreaux says the minimum-wage debate in economics is rather like the reverse of this debate that took place centuries ago among astronomers.


extreme-povertyCan the world put an end to extreme poverty within the next 15 years?

That’s the current goal of the World Bank, and its expected that the United Nations will adopt that same target later this year.

In 1990, the UN’s Millennium Development Goals included a target of halving poverty by 2015. That goal was achieved five years early. In 1990, more than one-third (36 percent) of the world’s population lived in abject poverty; by 2010 the number had been cut in half (18 percent). Today, it is 15 percent.

Extreme poverty is defined as living on less than $1.25 a day. The new goal is to move almost all the world’s population about that line by 2030. Is that even possible?

bribeIt is no secret that rule of law in places like Slovakia is weak. Corruption, pay-offs, bribes and twisted use of power often pass for “rule of law.” However, this problem has infected  health care as well, which means those who are able to bribe the doctor or health care worker is the one who will get the care.

The Economist describes Communist-era corruption as a holdover infesting much of central and eastern Europe, and not just in health care. However, it’s one thing to bribe an official to get a building permit; it’s quite another to have to do it for live-saving surgery.

In Latvia Valdis Zatlers, an orthopaedic surgeon who served as the country’s president from 2007 to 2011, accepted what he called “gratitude payments” from patients without declaring them to the tax authorities. He was fined just 250 lats ($466). A European Commission survey in 2013 found 28% of respondents in Romania and 21% in Lithuania had made informal payments to doctors, compared to an EU average of 5%. (more…)

Acton Institute President and Co-Founder Rev. Robert A. Sirico was in Argentina last week for Acton’s conference in Buenos Aires on Christianity and the Foundations of a Free Society, which is part of a series of Acton conferences being held around the world on the relationship between religious and economic freedom. While he was there, he was interviewed on and spoke about the problems of poverty that Argentina is struggling with, and also addressed the relationship between Pope Francis and the media and politicians, and the security arrangements that are in place to keep the pope safe.

Blog author: ehilton
Friday, March 20, 2015

jane marcetJane Marcet is remembered most often for her scientific work in chemistry. Born in London in 1769, she was well-educated, and shared a passion for learning with her father. When she married Alexander Marcet, a physician, she would proof-read his work and eventually decided to publish her own thoughts.

In a series of pamphlets entitled, “Conversations,” Marcet wrote on chemistry, botany, religion, and economics. She was a member of the London Political Economy Club, founded by James Mill.

In the early 19th century there were no academic societies or professional associations for economists. The Political Economy Club was a way to establish a scientific community, test ideas, and provide peer review for their work.


Unemployment-0306Series Note: Jobs are one of the most important aspects of a morally functioning economy. They help us serve the needs of our neighbors and lead to human flourishing both for the individual and for communities. Conversely, not having a job can adversely affect spiritual and psychological well-being of individuals and families. Because unemployment is a spiritual problem, Christians in America need to understand and be aware of the monthly data on employment. Each month highlight the latest numbers we need to know (see also: What Christians Should Know About Unemployment).

Positive news is marked with the plus sign (+) while negative employment data is marked with a minus sign (-). No significant change is marked by (NC).

On Friday afternoon, Acton Institute President Rev. Robert A. Sirico joined Neil Cavuto on Fox News Channel to discuss the notable lack of outrage on the part of the media in response to the slaughter of Christians by terrorist organization ISIS.

Yesterday, Acton’s Director of Research Samuel Gregg made an appearance on Relevant Radio’s The Drew Mariani Show to discuss Pope Francis’ recent comments calling money “the dung of the devil,” setting them in their proper context and discussing the Pope’s comments on cooperative organizations as well. You can listen to the interview via the audio player below.