Acton Institute Powerblog Archives

Post Tagged 'thrift'

On Thrift and Generosity

Recently at Big Questions Online, Barbara Dafoe Whitehead answers the question, “Does a culture of thrift cultivate generosity?” with a solid yes, documenting the history of thrift and generosity in the United States and their subsequent and unfortunate decline in recent years: By the 1960s, however, the coalition of national organizations promoting thrift ceased their activities. Continue Reading...

Amity Shlaes on Thrift and Calvin Coolidge

Thrift almost seems like a lost virtue among much of our governing class. It is also true of the general population. We don’t have to just look at our staggering public debt, but consumer credit card debt tells the story too. Continue Reading...

‘A’ for Austerity: The New Scarlet Letter

I introduced this week’s Acton Commentary yesterday with some thoughts about “The Audacity of Austerity.” In today’s “‘A’ for Austerity: The New Scarlet Letter,” I take to task the attitude embodied by Paul Krugman’s vilification of proponents of austerity measures. Continue Reading...

Saving Capitalism

While efforts to explain the financial crisis will continue for years (historians are still debating the causes of the Great Depression, eight decades later), it seems certain that its genesis cannot be fully understood without some recourse to the moral dimension of human action in the economy. Continue Reading...

Encouraging a True Culture of Thrift

Picking up on themes we’ve touched on here, here, and here, last week NYT columnist David Brooks weighed in on the culture of debt in the United States. “The social norms and institutions that encouraged frugality and spending what you earn have been undermined,” he writes. Continue Reading...

Is This Capitalism?

Is this supposed to be capitalism? Geoff Colvin writes that a motivating factor in the recent crash in corporate profits, as well as the sharp decline in home values, was the phenomenon that “people began to believe that the more they borrowed, the better off they would be. Continue Reading...