Acton Institute Powerblog Archives

Post Tagged 'profit'

The cramped morality of trade protectionism

“If a product is seen only as the opportunity for work, it is certain that the anxieties of protectionists are well founded.” –Frédéric Bastiat, Economic Sophisms Drawing inspiration from a 1847 essay by the inimitable Frédéric Bastiat, economist Donald Boudreaux tackles a popular argument from today’s trade protectionists: namely, “that protectionism is justified if enough consumers or voters are willing to pay higher prices in order to help workers.” Continue Reading...

Ten Quotes from economist Walter E. Williams

On this day in 1936, Walter E. Williams was born in the city of Philadelphia. The George Mason University economist is famous for his classical liberal views, often arguing that free market capitalism is not only the most moral economic system known to mankind, but it allows for the creation of the most wealth and prosperity. Continue Reading...

Distinguishing Capitalism

Last month the New York Times hosted a discussion on the question, “Has Capitalism Become Incompatible With Christianity?” There’s lots to be said about the “Room for Debate” feature, including a note on the caption for the lead image in the introduction. Continue Reading...

How the Profit Motive Helps the Environment

On this Earth Day, says Pierre Desrochers, we should spare a thought for the profit motive, an unheralded but long-standing champion of the environment. “The search for increased profitability,” ntoes Desrochers, “has long delivered both economic and environmental improvements by promoting the evermore efficient use of material resources.” Continue Reading...