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...

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...

Pope Francis to entrepreneurs: Do good, despite what culture says

Yesterday, Pope Francis hosted a private audience in his Apostolic Palace for a few hundred international entrepreneurs and business leaders. The members of the International Christian Union of Business Executives (UNIAPAC) had gathered inside the Vatican’s walls for two days of meetings for the “noble purpose of reflecting on the role of business persons as agents of economic and social inclusion.” Pope Francis, not always an affirming supporter of free market capitalism, focused on some of his usual challenging caveats to business persons. Continue Reading...

Surrendered Unto Stewardship: Darrell Bock On Money That Matters

What is the purpose of money? Is it for our survival? For our status, significance, or success? Is it for the service of ourselves or for the service of others? In a talk for the Oikonomia Network, theologian Darrell Bock sets out to answer the question, drawing from the numerous treatments of money in the book of Luke — from the rich fool and Lazarus’ wealthy neighbor to Zacchaeus and the widow’s mite. Continue Reading...

Real Life is Much More Than Economic

I think it is important to keep in mind that it is not the world of economics that is critical to human life on earth. When I left the field of economics for what I still believe to be a more important life agenda, it was because I regarded economics as driving cross-country at 80 mph with my eyes firmly fixed on the rear-view mirror. Continue Reading...

Bitcoin is (Nearly) All Dead

Earlier this year I declared that Bitcoin was (nearly) dead. But as The Princess Bride’s Miracle Max once explained, “There’s a big difference between mostly dead and all dead. Mostly dead is slightly alive. Continue Reading...