Religion & Liberty Online Archives

Acton Occasional Series

February 06, 2018

What Christians should know about the Dow

Note: Almost four years ago, the Dow inspired me to start a series of posts explaining economic terms and concepts from a Christian perspective. It’s fitting then that the Dow is also motivation to relaunch this long dormant feature (over the past two days the Dow has suffered the worst point decline in history).  Continue Reading...
February 01, 2018

5 Facts about National Freedom Day

In the United States February 1 is National Freedom Day. Here are five facts you should know about the annual observance: 1. National Freedom Day commemorates the date (February 1, 1865) when President Abraham Lincoln signed a joint resolution that proposed the 13th amendment to the United States Constitution. Continue Reading...
January 30, 2018

What is moral hazard?

Note: This is post #66 in a weekly video series on basic microeconomics. Imagine you take your car in to the shop for routine service and the mechanic says you need a number of repairs. Continue Reading...
January 23, 2018

Asymmetric information in health insurance

Note: This is post #65 in a weekly video series on basic microeconomics. In this video by Marginal Revolution University, Tyler Cowen discusses asymmetric information, adverse selection, and propitious selection in relation to the market for health insurance. Continue Reading...
January 17, 2018

Explainer: What you should know about a government shutdown

Why is there talk about a government shutdown? In December Congress passed the Further Additional Continuing Appropriations Act, 2018 (H.R. 1370) which provides non-discretionary funding through January 19, 2018. Because that Act expires at midnight on Friday, Congress must pass a new continuing appropriations act to keep the government operating. Continue Reading...
January 16, 2018

Asymmetric information and used cars

Note: This is post #64 in a weekly video series on basic microeconomics. Adverse selection occurs when an offer conveys negative information about what is being offered. For example, in the market for used cars, sellers have more information about the car’s quality than buyers. Continue Reading...
January 09, 2018

The tragedy of the commons

Note: This is post #63 in a weekly video series on basic microeconomics. Common resources are nonexcludable but rival, says Alex Tabarrok in this video by Marginal Revolution University. For instance, no one can be excluded from fishing for tuna, but they are rival — for every tuna caught, there is one less for everyone else. Continue Reading...