Acton Institute Powerblog Archives

Post Tagged 'adam smith'

Adam Smith and the morality of commercial society

Over at Arc Digital today I take a look at Adam Smith’s moral teachings, particularly in light of commercial society and Christian theology. This essay serves as a brief introduction to one of the Moral Markets projects I am working on, as well as a teaser for further exploration of the relationship between Christianity and classical political economy. Continue Reading...

Edmund Burke, free marketer

It’s not just millennials and other young people who are souring on free markets (44 percent according to a new poll) — there’s also a growing disenchantment among some conservatives. Acton Research Director Samuel Gregg explains the conservative angst as rooted, among other things, in the threat that upheaval in market economies presents to the “permanency, order, tradition, and strong and rooted communities.” Conservatives who advocate for free markets should take this critique seriously and “rethink about how to integrate their case for markets into the broader conservative agenda.” And who better to make this case than Edmund Burke himself: Rather fewer people know that Burke was a committed free trader, a strong defender of private property, and a skeptic of government economic intervention. Continue Reading...

What Christians can learn from Adam Smith’s ‘paradox of value’

In a new video from TED Ed, Akshita Agarwal provides a quick lesson on Adam Smith’s “paradox of value” and the differences between “value in use” and “value in exchange.” For Christians, there’s a crucial lesson here about the best way to meet human needs in the economic order, whether through trade policy, reducing price controls, or any number of other areas.  Continue Reading...

The benefits of free global trade

In a new piece written for Public Discourse, Samuel Gregg revisits crucial points made by Adam Smith in his classic Inquiry into the Nature and Causes of the Wealth of Nations,  in which Smith argues for an embrace of international trade. Continue Reading...