Calling all business and economics faculty at Christian colleges, universities, and seminaries across the United States and Canada! The deadline to apply for a Mini-Grant is March 15, only a few short weeks away.

The Acton Institute’s Mini-Grant Program will award a total of $40,000 to business and economics instructors for purposes of course development and faculty scholarship in the field of free-market economics.

If you are a professor or know of professors looking for financial assistance to bolster course curricula or advance scholarly projects in the upcoming school year, we invite you to visit the Mini-Grant Program page for details about this competitive grant program.

To qualify for the upcoming deadline, all application materials must be submitted by email or postmarked by March 15.

Information about eligibility, conditions, the selection process, application requirements, and deadlines may be found on the Mini-Grant Program page.

Download a Fact Sheet Here

If you have any scholarship questions, please contact us at scholarships@acton.org.

Subway at True Bethel Baptist Church

I have previously expressed my appreciation for the popular TV show, Undercover Boss, in which business leaders from large corporations spend several days working alongside lower-level employees.

In an episode on Subway, Don Fertman, the restaurant chain’s Chief Development Officer, goes undercover at several locations across the United States. Most of the episode includes your typical Undercover Boss fare — a bumbling executive, dedicated workers, teer-jerker employee recognitions — but I was struck by a particular branch that Fertman visits along the way.

Located in the heart of Buffalo, New York, the restaurant is located in the same building as True Bethel Baptist Church, and further, is owned and operated as a franchise by the church itself. The reason? To provide employment and job training to the surrounding neighborhood. (more…)

Shortly after filing my blog yesterday, the New York Times’ David Firestone added another wrinkle. It seems liberal billionaires also contribute millions of dollars to voice their strongly held beliefs regarding climate change:

Those who are worried about man-made climate change might be tempted to welcome the news that Tom Steyer, a Democratic billionaire, will spend $100 million this year to fight it. Mr. Steyer plans to put up half the money himself for attack ads against governors and lawmakers who ignore climate change, and will raise the rest from like-minded rich people.

Yet, the religious shareholders filing proxy resolutions from the Interfaith Center on Corporate Responsibility and Tri-State Coalition on Responsible Investment persist in their handwringing over campaign and lobbying monies contributed by libertarian and business-friendly individuals and institutions. Since the U.S. Supreme Court Citizens United ruling, however, money from the left is just as – if not more – pervasive, according to Alan Suderberg and Ben Weider of the Center for Public Integrity.

Since the Supreme Court loosened rules on political spending in 2010, the Republican Party, boosted by corporate and billionaire backers, has been painted as the biggest beneficiary. But in New Hampshire and a handful of other states in 2012, Democrats flipped the script.

In New Hampshire, groups backing Democrats reported spending nearly $1 million more than their Republican counterparts.

Nonprofits, super PACs, and other non-candidate groups reported spending at least $209 million to influence elections in 38 states, according to a Center for Public Integrity analysis of data from the National Institute on Money in State Politics (NIMSP) and state elections offices.

Pro-Democratic groups, many associated with unions, outspent their Republican counterparts by more than $8 million, according to the Center’s analysis. (more…)

Blog author: ehilton
Wednesday, February 19, 2014
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The much-maligned 1%. Websites are devoted to getting them to spread their wealth. They are called self-pitying, greedy…just all-around bad folk.

Really?

In today’s Wall Street Journal, James Piereson says the 1% are actually hard-working people like the rest of us. They have jobs. They earn their money. Maybe they earn more money that most of us, but they do earn it; they aren’t trust fund babies or spoiled heirs. (more…)

The “information theory of capitalism”, says Rev. Johannes L. Jacobse in this week’s Acton Commentary, upends conventional thinking about free markets and statist economic theories.

Ever since the rise of information theory in the 1940s, it is becoming increasingly clear that the universe is, in a sense, digital. Information, logic, data, whatever you want to call it, lies even deeper than the material operations that science has so ably discovered and quantified. This deeper informational dimension is dynamic and unpredictable. It is also how systems (biological, institutional, economic etc.) change and grow.

Gilder applies the principles of information theory to help us understand how economies grow. Known mostly for Wealth and Poverty, a book written over 30 years ago (earning him a reputation as “Ronald Reagan’s most quoted economist”), Gilder lays out what he calls the sum of all his work: Information, not the management of processes, creates economic growth.

The full text of the essay can be found here. Subscribe to the free, weekly Acton News & Commentary and other publications here.

Blog author: ehilton
Wednesday, February 19, 2014
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A priest stands on the front lines in Kiev

A priest stands on the front lines in Kiev

Reuters: Downtown Kiev

Downtown Kiev: Reuters

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Blog author: jcarter
Wednesday, February 19, 2014
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ukraine-protestWhat just happened in Ukraine?

For the past three months, a protest movement has been expressing opposition to the government of Ukraine’s president, Viktor Yanukovych. Yesterday (Feb. 18), the protest reached a current peak when the country suffered its worst bloodshed since leaving the Soviet empire. More than 20 people were reported killed as riot police moved in to clear Kiev’s Independence Square, the crucible of the anti-government activism.

What is the cause of the conflict?

At its root, the conflict is about the future development of the country – will it be a country based on the rule of law, or Russian-style oligarchy and closed interests?

Many in the Ukraine want closer ties (and possibly even membership) into the European Union. But in November the government stopped preparations for a trade deal with the EU, which sparked the protests. In December, Russian President Vladimir Putin offered economic lifeline to Ukraine, with $15 billion of loans and cheaper gas supplies. Protesters viewed this move as Moscow buying off their country’s President and are seeking to unseat Yanukovych and force early presidential elections.

Where exactly is Ukraine?
(more…)