Economics

October 09, 2015

Interview: John C. Kennedy III on Pope Francis in America

In late September, the Wall Street Journal asked Catholic business leaders for their reaction to Pope Francis’ economic views in an article titled, “For Business, a Papal Pushback.” It ran with the teaser line: “Corporate leaders see merit in pope’s message, if not his broad-brush attack on capitalism.” Continue Reading...

October 07, 2015

In the Quest for Globalization, Let’s Not Forget About ‘Internal’ Free Trade

“Globalization must do more than connect elites and big businesses that have the legal means to expand their markets, create capital, and increase their wealth.” –Hernando de Soto When assessing the causes of the recent boom in global prosperity, economists and analysts will point much of their praise to the power of free trade and globalization, and rightly so. Continue Reading...

October 05, 2015

John D. Rockefeller’s Special Gift to the World

Whether derided as a devil of modern industry or hailed as a saint of modern philanthropy, oil tycoon John D. Rockefeller remains a controversial figure. Although the reality of the man is surely complex, those who attack his legacy tend to indulge in more than a few historical errors and economic myths, painting him as a supreme symbol of all that is wrong with industrialization and capitalism. Continue Reading...

October 02, 2015

Samuel Gregg: Fear and Loathing Stalk the West

Acton Research Director Samuel Gregg, writing for The American Spectator, looks at the telltale signs of a great civilization in decline. Many of us think of civilizational failure in terms of a society’s inability to withstand sudden external encounters. Continue Reading...

September 30, 2015

How ‘Buy-One, Give-One’ Models Can Dilute Charity and Hurt Local Economies

The highly popular “buy-one, give-one” models — as epitomized by the popular TOMS Shoes brand — have long held the attention of Western do-gooders. It’s quick, it’s easy, and hey, people like the shoes. Continue Reading...

September 28, 2015

Kickstarter: Capitalism’s Superior Alternative to the NEA

Several years ago, as a music student in college, I remember hearing constant complaints about “lack of funding for the arts.” Hardly a day would go by without a classmate or professor bemoaning the thin and fickle pockets of the bourgeoisie or Uncle Sam’s lack of artistic initiative. Continue Reading...

September 24, 2015

Entrepreneur Day

Today at the Library of Law and Liberty, I take a cue from probablist Nassim Nicholas Taleb and call for the commemoration of a National Entrepreneurs Day: One has been proposed in the U.S. Continue Reading...

September 23, 2015

What Pope Francis Misses About the Morality of Capitalism

“Defending capitalism on practical grounds is easy,” writes economist Donald Boudreaux at the Mercatus Center. “It is history’s greatest force for raising the living standards of the masses.” What’s more difficult, it seems, is understanding its moral logic, spiritual implications, and which of each is or isn’t inherent to private ownership and economic exchange. Continue Reading...

September 22, 2015

Why the Gospel Is Necessary in Economic Development

The global conversation on poverty alleviation has taken some interesting turns over the past decade, with an increasing range of economists, government leaders, and even rock stars beginning to challenge the status quo of economic development and foreign aid. Continue Reading...

September 21, 2015

Toward an Economics of Abundance

Over at the Reformation21 blog, Michael Jensen compares what he calls the “scarcity mindset” of the world with the “abundance mentality” of God, noting that “the world as we see it is open to the creative and transformative power of the Lord God.” Continue Reading...

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