Free Enterprise

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 01, 2015

Thanks to Free Enterprise, U.S. Cities Have Larger Economies than Most Countries

In their latest report, the World Economic Forum ranks the U.S. economy as the world’s third most competitive, behind only Switzerland and Singapore. But as James Pethokoukis notes, what this really means is that the “US is the most competitive large economy.” 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

A Drug Price Jumped 5,000 Percent Overnight. Blame the Government, Not the Free Market

In the early 1950s, the Nobel Prize-winning scientist Gertrude Elion developed the drug Daraprim to combat malaria. Daraprim is now also used to fight toxoplasmosis, which infects people whose immune systems have been weakened by AIDS, chemotherapy and pregnancy. Continue Reading...

September 22, 2015

Have Cookies Convinced the Pope About Capitalism?

Based on their latest headline, it looks like someone from the Acton Institute is writing for the The Onion: Pope Francis Reverses Position On Capitalism After Seeing Wide Variety Of American Oreos As the article says: Admitting the startling discovery had compelled him to reexamine his long-held beliefs, His Holiness Pope Francis announced Tuesday that he had reversed his critical stance toward capitalism after seeing the immense variety of Oreos available in the United States. Continue Reading...

September 15, 2015

Is Free Market Capitalism Moral?

Is free market capitalism moral or immoral? If it’s based on greed and selfishness, should it be rejected for an alternative economic system? And if capitalism is moral, what makes it so? Continue Reading...

August 31, 2015

Video: Wayne Grudem And Barry Asmus On A Solution To The Poverty Of Nations

So far, 2015 has given us our busiest Acton Lecture Series ever, and we’re pleased to share more of it with you today on the PowerBlog. Back on April 16, Acton had the privilege of hosting Wayne Grudem and Barry Asmus, who spoke on the topic of the book they jointly authored, The Poverty of Nations: A Sustainable Solution. Continue Reading...

August 20, 2015

Overcoming ‘Anti-Foreign Bias’ in Trade and Immigration

Many conservatives exhibit a peculiar tendency to be pro-liberty when it comes to business, trade, and wages, but protectionist when it comes to the economic effects of immigration. It’s an odd disconnect, and yet, as we’ve begun to see with figures like Donald Trump and Rick Santorum, one side is bound to eventually give way. Continue Reading...

July 30, 2015

Will the Catholic Church Eventually Embrace Democratic Capitalism?

Pope Francis hasn’t been shy about showing his disdain for capitalism and. During his recent trip to Latin America, for example, the pontiff said the the unfettered capitalism is “the dung of the devil.” Continue Reading...

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