Religion & Liberty Online Archives

Acton Occasional Series

May 23, 2017

The problem with tariffs and protectionism

Note: This is post #34 in a weekly video series on basic microeconomics. How do tariffs affect consumers? What about producers? Who wins and who loses? In this video by Marginal Revolution University, economist Alex Tabarrok looks at the costs and consequences of tariffs, quotas, and protectionism. Continue Reading...
May 18, 2017

Explainer: What you should know about NAFTA

The Trump administration formally announced to Congress today that it intends to renegotiate the North American Free Trade Agreement (NAFTA). According to the Associated Press, U.S. Trade Rep. Robert Lighthizer sent a letter to congressional leaders to start 90 days of consultations with lawmakers over how to revamp the pact. Continue Reading...
May 17, 2017

Understanding the President’s Cabinet: Vice President

Note: This is the post #17 in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introduction here. Cabinet position: Vice President (VPOTUS) Current: Mike Pence Succession: The Vice President is second in the presidential line of succession. Continue Reading...
May 16, 2017

Should Martha Stewart iron her own shirts?

Note: This is post #33 in a weekly video series on basic microeconomics. Comparative advantage explains why people trade and what goods they should trade. To illustrate the concept of comparative advantage, Marginal Revolution University’s Alex Tabarrok asks, “Should Martha Stewart iron her own shirts?” Continue Reading...
May 10, 2017

Understanding the President’s Cabinet: Attorney General

Note: This is post #16 in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introduction here. Cabinet position: Attorney General Department: Department of Justice Current Secretary: Jeff Sessions Succession: The Attorney General is seventh in the presidential line of succession. Continue Reading...
May 09, 2017

What is comparative advantage?

Note: This is post #32 in a weekly video series on basic microeconomics. What is comparative advantage? And why is it important to trade? In this video by Marginal Revolution University, economist Don Boudreaux guides us through a specific example surrounding Tasmania — an island off the coast of Australia that experienced the miracle of growth in reverse. Continue Reading...
May 02, 2017

The big ideas of trade

Note: This is post #31 in a weekly video series on basic microeconomics. Trade makes people better off, but how? In this video economist Tyler Cowen discuss the importance of specialization and division of knowledge, and how specialization leads to improvements in knowledge, which then lead to improvements in productivity. Continue Reading...