Acton Institute Powerblog Archives

Post Tagged 'monopoly'

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...

Every Market Form in a Single Chart

Reading through the German economist Walter Eucken’s work The Foundation of Economics (1951), I came across one of the most helpful charts for economic analysis I have yet to find. In it, Eucken gives every possible form of market in a single table: The Foundation of Economics, p. Continue Reading...

Crony Capitalism’s Favorite Trick

Many who reject capitalism in favor of some “third way” do so because they often mistake it for government-corporate cronyism, says Jonathan Witt in this week’s Acton Commentary. But in countries that have begun extending true economic freedom to the masses, capitalist activity has already lifted hundreds of millions of people out of extreme poverty. Continue Reading...

Privilege: The Real Postal Problem

No more credit card offers on Saturdays…. Regarding the USPS decision Wednesday to stop Saturday mail delivery, Ron Nixon at the New York Times writes, The post office said a five-day mail delivery schedule would begin in August and shave about $2 billion a year from its losses, which were $15.9 billion last year. Continue Reading...

A Lottery Sell-Off is a Sell-Out

In this week’s Acton Commentary, I examine the most recent buzz-worthy trend in the lottery industry: privatization. While most critics of these moves have pointed to the foolhardiness of selling off a long-term income stream for a lump sum jackpot, I argue that privatization by itself does nothing to address the underlying problems afflicting the lottery business. Continue Reading...

A Government-Enforced Monopoly

Let’s engage in a little thought experiment. How would you feel about the following scenario? 1) The government bans all activities associated with Industry X because it judges that this industry damages the common good. Continue Reading...