We know that some countries around the world are rich (e.g., the United State) and others are, relatively speaking, poor (such as Mexico). But not all poor countries are equally poor. Mexico, for instance, is wealthy compared to some African countries.

Knowing how to measure such differences can help us better grasp the relative well-being of people around the globe. In this video by Marginal Revolution University, economist Alex Tabarrok provides a simple tool for comparing relative wealth between nations.

Blog author: jcarter
Tuesday, May 10, 2016
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The Poverty of Liberal Economics
Adrian Walker, The Imaginative Conservative

Instead of delivering economic freedom tout court, liberal economics delivers a certain, liberal form of economic freedom—one that, as we will see below, is actually an unfreedom.

How Capitalism Took Over Sports Movies
Mike Miley, The Atlantic

In popular culture, businessmen and managers have ousted teams and players as dramatic heroes.

The inequality that matters most (hint: it’s not income)
Allison Schrager, Quartz

Income inequality in the US has increased in the last few decades, but inequality and well being are different

How Local Churches Anger The Gods Of Government
Douglas E. Baker, The Federalist

Secular liberals insist separating church and state ultimately means an impossible separation of religion and politics—and this zealous belief is eroding American freedom.

artofthedeal[Note: This is the first in an occasional series evaluating the remaining presidential candidates and their views on economics and liberty.]

In the history of American politics, there has never been a candidate quite like Donald Trump. He is an Ivy League-educated New York billionaire appealing to populists across the country. He is a crony capitalist who loves bureaucracy and yet has convinced voters that he is the anti-Establishment candidate. He is profoundly ignorant about economics and openly hostile to freedom, and yet on the verge of securing the nomination of what was once the America’s “conservative” party.

He is, as he claims, a sort of artist.

Yet for all his contradictions, understanding Trump is rather simple. The first step is to understand that he cares less about principles or policy than he does about process.
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Hayek_1Yesterday was the 116th birthday of the late Austrian and British economist Friedrich Hayek. Throughout his life the Nobel-winning philosopher defended civil liberties and political freedom and warned against the Keynesian welfare state and of totalitarian socialism.

In honor of his birthday, here are six key quotes from his writings:
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Blog author: jcarter
Monday, May 9, 2016
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President Obama calls for higher minimum wage following disappointing job report
Jeva Lange, The Week

Following the weakest job report in seven months, President Obama spoke to the press Friday about the economy and publicly called for Congress to raise the minimum wage.

Half a Billion of Our Children Are Growing Up in War, Famine and Other Catastrophes
Annalisa Merelli, Quartz

An estimated 462 million children of school age live in countries affected by humanitarian crises—including war, famine, and deadly epidemics—a UNICEF report published on May 4 found.

How to solve charter schools’ biggest challenge
Jenn Hatfield and Ian Lindquist, U.S. News & World Report

Since the turn of the century, there has been an explosion in student demand for charter schools. The number of charter schools has more than quadrupled during that time, from roughly 1,500 to over 6,800, yet the number of students on waitlists topped one million for the first time in 2014.

Could Adam Smith Have Loved Distributism?
Alexander Salter, The Imaginative Conservative

[T]here are, I contend, several areas where those who are intrigued by distributism, and those who are practicing, mainline political-economists, can find common ground. The most promising common ground lies in the selection of means for advancing similar, or even common, ends.

Poverty, Inc. co-producer Mark R. Weber shares his commitment to discomfort as a necessary function of growth at the Jubilee Professional conference in Pittsburgh, 2016.

Poverty, Inc. is a critically acclaimed documentary that has earned over 50 international film festival honors and the $100,000 Templeton Freedom Award. It has been endorsed across the political spectrum, from Michael Moore to Russ Roberts, playing in over 100 universities including Harvard, MIT, NYU, Cornell, Stanford, Yale, and Northwestern.

Learn more at povertyinc.org and facebook.com/povertyinc.

Unemployment-0306Series Note: Jobs are one of the most important aspects of a morally functioning economy. They help us serve the needs of our neighbors and lead to human flourishing both for the individual and for communities. Conversely, not having a job can adversely affect spiritual and psychological well-being of individuals and families. Because unemployment is a spiritual problem, Christians in America need to understand and be aware of the monthly data on employment. Each month highlight the latest numbers we need to know (see also: What Christians Should Know About Unemployment).

Positive news is marked with the plus sign (+) while negative employment data is marked with a minus sign (-). No significant change is marked by (NC).
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