economics

July 22, 2014

The Idle Rich

Over at his blog, Peter Boettke writes, “The idle rich are never really idle in a free market economy.” Now while we might want to distinguish between the rich and their riches, could it be that even in their consumption, conspicuous or otherwise, the rich are contributing to a rising tide that lifts all boats? Continue Reading...

July 22, 2014

For the Good of Mankind, Side With the Consumer

Should we always take the side of the individual consumer? That’s the question Rod Dreher asks in a recent post on “Amazon and the Cost of Consumerism.” It’s a good question, one that people have been asking for centuries. Continue Reading...

July 22, 2014

The Economics Of Sex

Economics, at first glance, doesn’t seem very…well…sexy. It’s all about numbers, right? How the stock market is doing, how much people are willing to spend on stuff they need or want, whether or not people have jobs. Continue Reading...

July 21, 2014

Skirting The Law: Five U.S. Territories Now Exempt From Obamacare

Last week was a busy one, news-wise, and this may have slipped by you. Suddenly, 4.5 million people in the 5 U.S. territories (American Somoa, Guam, Northern Mariana Islands, Puerto Rico and the U.S. Continue Reading...

July 17, 2014

What Matters Most for Social Mobility?

Earlier this year I wrote a series of posts explaining 12 principles that generally drive the thinking of conservative evangelicals when it comes to economics. Number 9 on my list was: 9. Continue Reading...

July 15, 2014

Samuel Gregg: What Catholic Social Teaching Doesn’t Know

In the latest edition of First Things, Acton’s Director of Research Sam Gregg discusses how adherence to Catholic social teaching does not require a limited economic viewpoint. In fact, such a limited vision, or blindness as Gregg states in the article’s title, is what holds back development in many parts of the world. Continue Reading...

July 11, 2014

America’s Largest Workforce Calls for Change

Millions of Americans who work for tips have now been dragged into the political battle over the federal minimum wage and whether it should be raised to $10.10 per hour. Since 1991, the federal minimum wage has been adjusted 5 times, increasing three dollars to its current $7.25. Continue Reading...

July 11, 2014

‘You Can’t Win If People Think You Don’t Care About Them’

Arthur Brooks, president of the American Enterprise Institute, challenges conservatives to think and act differently in the fight against poverty and income inequality. He says conservatives must acknowledge that we have income inequality in our society, and be willing to do something about it. Continue Reading...

July 11, 2014

How an Excess of Social Capital Can Hurt the Poor

What are the barriers that prevent the poor from moving into the middle class? One surprising answer, says Megan McArdle, is an excess of social capital. In the video below, McArdle explains why understanding how social and financial capital function in low-income communities can help us be more effective in helping then poor. Continue Reading...

July 09, 2014

Student Debt and the Value of an Education

“Despite the mounting cost and swelling debt,” notes Laura Prejean in this week’s Acton Commentary, “America’s demand for education, particularly higher education, has not decreased, defying typical market expectations.” This is what economists call inelastic demand, when people continue to buy a good or service regardless of an increase in prices. Continue Reading...

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