The value of money is determined by how much (or how little) of it is in circulation. But who makes that decision, and how does their choice affect the economy at large? Doug Levinson looks at the role of the U.S. Federal Reserve efforts to affect inflation and deflation affects the value of our money. ...

Note: This is post #98 in a weekly video series on basic economics. If someone has a job, they’re defined as “employed.” But does that mean that everyone without a job is unemployed? Not exactly. For the official statistics, you have to meet quite a few criteria to be considered unemployed in the U.S., explains economist Alex Tabarrok. In this video by Marginal Revolution University, Tabarrok explains how unemployment is officially defined by the federal government. (If you find the...

Note:This article is part of the ‘Principles Project,’ a list of principles, axioms, and beliefs that undergirda Christian view of economics, liberty, and virtue. Clickhereto read the introduction and other posts in this series. The Principle:25A — We have a moral obligation to promote innovation. The Definitions: Innovation –Something (i.e., an idea, method, process, product, service, tool, etc.) that isnew, original, or improved which creates value and is uniquely useful. (Source) Human flourishing – A holistic concern for the spiritual,...

This is a guest post for the Acton PowerBlog By Kevin Brown Imagine asking a diverse group of rich, poor, attractive, unattractive, intelligent, unintelligent, white, non-white, educated, and non-educated — what makes a society just. Do you think you would get the same answer? Neither do I. Diverse individuals have diverse experiences, values, and contexts — and our varied backgrounds will inevitably color our perception of what is just, fair, and equitable. Given this, how can we as a society...

In a recent article for Law and Liberty, Samuel Gregg, Acton’s Director of Research, reviews French political scientist Gil Delannoi’s new book Le nation contre le nationalisme. “Since 2016,” Gregg writes, “it has e evident that millions of people are not content to be herded, sheep-like, by intellectuals, techno-utopians, and supranational bureaucrats down the path of global governance. Their discontent is being expressed through a renewed emphasis upon the nation and an associated stress on nation-state sovereignty.” This emphasis on...

One of the dangers of forming a modern identity around achievement is what Rev. Tim Keller calls “the success-failure whiplash.” Succeeding in one area can cause people to believe they have the skills and inner qualities to do anything, and everything, alone – that they are petent. Keller discussed the process in his address to the Acton Institute’s 2018 annual dinner, which he titled “Identity, Business, and the Christian Gospel”: If your identity has e your business and your profession,...

I’d like to join in the chorus of Russell Kirk memorials that have graced the PowerBlog these past few days memorate Kirk’s 100th birthday. Over at The Federalist today, I can only hint at the significant contributions Kirk wrote on behalf of conservatism, sound economics and Christian humanism. Herewith a brief excerpt: [H]e was so much more than a Cassandra ceaselessly caviling against Communism. More to our great fortune, Kirk scoured the world’s great literature, philosophy, and political theory. From...

A new study confirms that creeping tribalism has Americans bitterly divided, acrimonious, and dismissive of others based on political differences. Behind this animosity lies a spiritual principle that Rev. Timothy Keller touched on during his address at this year’s Acton Institute annual dinner. Keller, pastor of Redeemer Presbyterian Church in Manhattan, offered his insights in a lecture he titled “Identity, Business, and the Christian Gospel” – but its lessons go to the heart of every human being. Who am I?...