Acton Institute Powerblog Archives

Post Tagged 'economy'

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...

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...

Is ‘fair trade’ fair?

Most consumers have heard of fair-trade coffee, but have no idea how fair-trade actually works. In this video, economist Victor Claar covers the basics of the fair-trade model, and explores whether fair trade can deliver on its promises to help the poor. Continue Reading...

Deck the halls with macro follies

During the holiday shopping season the media inevitably talks about consumer spending, and how it is vital to economic growth and job creation. But if people are buying more that means that are saving less. Continue Reading...

What you should know about subsidies

Note: This is post #13 in a weekly video series on basic microeconomics. What is a subsidy? A subsidy is really just a negative or reverse tax, explains Alex Tabarrok. Instead of collecting money in the form of a tax, the government gives money to consumer or producers. Continue Reading...

The cost of Twelve Days of Christmas: $34,363.49

If you’ve been stuck at the mall listening to a song about ten Lords a-Leaping and eight Maids a-Milking you can blame the Jesuits. Rumor has it they invented the Twelve Days of Christmas song as a catechism in code for persecuted Catholics in 16th-century England. Continue Reading...