Acton Institute Powerblog Archives

Post Tagged 'economy'

Prosperity matters more than social mobility or income inequality

Embed from Getty Images   Social mobility is the ability of an individual or family to improve (or lower) their economic status. The two main types of social mobility are intergenerational (i.e., a person is better off than their parents or grandparents) or intragenerational (i.e., income changes within a person or group’s lifetime).  Continue Reading...

Samuel Gregg asks, ‘what good is money?’

While money’s purpose is to serve as a medium of exchange, this is not its only function. Samuel Gregg, in an article for Witherspoon Institute’s Public Discourse, defines the purpose of money and finance, in general, as well as its ability to serve the economy of the people. Continue Reading...

Economics made the world a better place

“A lot of doom and gloom types say we’re living in dark times. But they’re wrong,” says economist Donald J. Boudreaux. “While there are real problems, the world has never been healthier, wealthier, and happier than it is today. Continue Reading...

5 Facts about Jean-Baptiste Say

Today is the 250th anniversary of Jean-Baptiste Say, one of the most important economic thinkers of the nineteenth century. Here are five facts you should know about this French economist: 1. Continue Reading...

5 victims of the $15 minimum wage

As protests for a $15-per-hour minimum wage continue to rage across the country, cities like Seattle and states like California and New York have already begun to adopt such schemes. But alas, prices are not play things, and such measures are bound to reap a range of deleterious effects, from raised consumer prices to increased unemployment to reduced working hours to outright business closures. Continue Reading...

The magic of the washing machine

What was the greatest invention of the industrial revolution? Hans Rosling makes the case for the washing machine. Rosling explains how the productivity gains of the washing machine—and similar labor-saving devices—lead to increases in education and economic growth in the developing world. Continue Reading...