Religion & Liberty Online Archives

Economics

September 13, 2017

The consuming self as tyrant

“Consumerism is, quite precisely, the consuming of life by the things consumed. It is living in a manner that is measured by having rather than being.” -Richard John Neuhaus In a free economy, we each serve distinct roles as both producers and consumers. Continue Reading...
September 05, 2017

Markets fail, which is why we need markets

There are generally two views of markets. The first is that markets can do no wrong. The other is that markets fail—and fail often—which is why we need government intervention. But as Nick Schulz and Arnold Kling note, there is a third way that can be summarized as “Markets fail. Continue Reading...
August 23, 2017

How free trade promotes global peace

Thomas L. Friedman said in The Lexus and the Olive Tree that no two countries with McDonald’s within their borders have ever been in a war since having a McDonald’s. Since it was proposed in 1999 this explanation of how globalization affects foreign policy and conflict has become known as the Golden Arches Theory of Conflict Prevention. Continue Reading...
August 22, 2017

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...