Acton Institute Powerblog Archives

Economics and Social Problems

April 18, 2018

A polite rebuke of Pope Francis’ economic confusion

Review of Pope Francis and the Caring Society, edited by Robert M. Whaples; The Independent Institute, Oakland, CA; 2017, 234 pp. Having toiled in the free-market research universe for nearly two decades, perhaps the most common misperception I’ve encountered is “whataboutism.” Continue Reading...
April 18, 2018

Is economics an ideology?

Richard H. Spady, research professor of Economics at Johns Hopkins, has recently published a piece at First Things entitled ‘Economics as Ideology’ in which he explores some contemporary trends among economists and their use of economics as a Procrustean bed to reshape society in its own image, A body of thought is “ideological” when it will­fully projects its own first principles on its subject matter and actively seeks, perhaps unconsciously, material changes to bring social realities into conformity with these first principles. Continue Reading...
March 19, 2018

How managers can help save the world

Why are some countries rich while other countries are poor? A primary reason, as economists have been pointing out for hundreds of years, is productivity—the efficient use of such resources as labor and capital. Continue Reading...
March 12, 2018

Is Elizabeth Bruenig even a socialist?

Elizabeth Bruenig, columnist for the Washington Post, yesterday published an opinion piece entitled, ‘Let’s have a good-faith argument about socialism’ responding to some critics of her earlier piece, ‘It’s time to give socialism a try’. Continue Reading...
March 07, 2018

Give socialism a try? Let’s not.

Elizabeth Bruenig, columnist for the Washington Post, yesterday published an opinion piece entitled, ‘It’s time to give socialism a try’. The title is a bit misleading as the piece makes no positive case for socialism but rather chronicles her own and several others convictions that something in our society has gone terribly wrong. Continue Reading...
Yeah, well, that's just, like, your opinion, man
February 14, 2018

Herman Bavinck on love, economics, and the reformation of society

When we think about markets, we often think only in terms of mathematics or money. But at a deeper level, markets are simply networks of human relationships. When we participate in economic activity, we aren’t just creating wealth; we are forming communities, cultures, and civilization, partnering with God and neighbor in a divine exchange of gifts, blessings, and love. Continue Reading...
January 22, 2018

What you should know about Jubilee Years

Many politically progressive Christians have latched on to the concept of a “Jubilee year” as a biblically endorsed excuse for debt cancellations and as a way to “dismantle economic inequality.” But as a new study by Charles A Goodhart and Michael Hudson explains, Jubilee Years didn’t originate in ancient Israel, they weren’t really about egalitarianism, and they can’t readily be applied outside of agrarian based economies. Continue Reading...