Acton Institute Powerblog Archives

Post Tagged 'adam smith'

May 20, 2026

Free Trade and the Rule of Law

Imagine a neighborhood that has experienced high crime rates for years. A local “neighborhood watch” group forms, but it only talks about resolutions without taking any action. Criminals are found guilty but then immediately released back onto the streets to continue their illicit activities. Continue Reading...
April 28, 2026

The Economic End of History

The final dissolution of the Soviet Union in 1991 heralded the victory of Western democratic societies over communism and the ideologies of collectivism. Proponents of the market economy now had definitive proof that central economic planning cannot outperform a decentralized market order, in terms of creating goods that people value and distributing them in a timely, efficient manner. Continue Reading...
March 26, 2026

The Wealth Tax Must Die

The wealth tax is the ultimate zombie policy: It’s been tried, tested, and rejected across Europe, yet it has returned to the United States with renewed fervor, driven by the politics of envy disguised as justice. Continue Reading...
March 17, 2026

What Exactly Are the ‘Common Goods’?

At some point in their economics curriculum, every undergraduate will learn the “guns and butter” model of trade. The idea is simple: Countries have limited resources and can devote them either to military production or to consumer goods. Continue Reading...
January 15, 2026

AI and the Return of Architectonic Labor

The free enterprise system’s greatest prophets saw the trade-off from the beginning. The division of labor generates unprecedented wealth while subjecting workers to menial labor that diminishes our personal and political capacities. Continue Reading...
June 24, 2025

An Economist’s Summer Reading List

It’s that time of year again! Longer, warmer days hopefully bring a little more downtime for summer reading. Whether you’re reading them in a hammock or at poolside, these books are exciting and relevant and will keep your mind engaged during the dog days of summer. Continue Reading...
April 23, 2024

Brady, Jordan, or Hayek: Who’s the Real GOAT?

Trendy title aside, Tyler Cowen’s new book, GOAT: Who Is the Greatest Economist of All Time and Why Does It Matter?,is a mini masterpiece. Cowen takes the reader on a whirlwind tour of the life and works of the greatest economists of all time (Milton Friedman, John Maynard Keynes, Hayek, J.S. Continue Reading...