Latest Posts

August 02, 2017

The moral hazard of fuzzy contracts

“You may already be aware that many state and local public pensions are in trouble,” says Victor V. Claar in this week’s Acton Commentary. “By one estimate, the nation’s state, county, and municipal governments face a combined funding shortfall of about $5 trillion. Continue Reading...
August 01, 2017

Maximizing profit and the average cost curve

Note: This is post #43 in a weekly video series on basic microeconomics. For companies, being able to predict expected profits—or expected losses—is a very useful tool. In this video by Marginal Revolution University, Alex Tabarrok introduces the third concept you need to maximize profit — average cost. Continue Reading...
July 31, 2017

Free trade is good stewardship of creation

Christians seeking to be good stewards of God’s creation sometimes find themselves torn. The environmentalist movement tells them that the most destructive force ever unleashed upon Mother Nature is rapacious “neoliberal” capitalism, which they also know has has been the greatest producer of wealth in history. Continue Reading...