Reflecting on the pontificate of Pope Benedict XVI, Philip Booth, professor at Cass Business School in London, says the pope was clear on his economic ideas. As he said in Caritas in Veritate: “Economy and finance, as instruments, can be used badly when those at the helm are motivated by purely selfish ends. But it is man’s darkened reason that produces these consequences, not the instrument per se”. In other words, credit derivative swaps are not evil, but those who...

Today Pope Benedict XVI issued a statement that he was renouncing his ministry as the Bishop of Rome, effectively abdicating as of February 28, 2013. The Acton Institute has created a resource page that will provide news and analysis of this historic event, and the election of a new pope. You can find the current resources and follow future updates here. ...

Shock waves went through Rome at about noon today and the rest of the Catholic, make that the entire, world, as news came that Pope Benedict XVI will resign as Pope on February 28. We’ll have much more from Rome about this tremendous, unprecedented event (Pope Gregory XII resigned in 1415 in very different circumstances). Here’s what Pope Benedict had to say about a Pope resigning in the 2010 interview Light of the World: Q:The great majority of [the sexual...

Today, Acton’s Rome office and the world were stunned by what the Dean of the College of Cardinals said was a “bolt out of the blue”: just after midday Benedict XVI informed the public that he would be stepping down as the Catholic Church’s pontiff and one of the world’s preeminent moral and spiritual leaders, effective on February 28. He will be the first pope to abdicate voluntarily the Seat of St. Peter in nearly 600 years. The last one...

Pulitzer Prize-winning historian David McCullough is author of popular biographies such as Truman and John Adams, and at 79 years old, he’s still going strong. When asked by Harvard Business Review whether he is ready to retire, McCullough offered some interesting perspective on how he views his work through the American founders’ understanding of the “pursuit of happiness” (HT): I can’t wait to get out of bed every morning. To me, it’s the only way to live. When the founders...

Rev. Robert Sirico appeared on the February 8 edition of “The Blaze” to discuss the revisions to the HHS mandate announced by the White House on January 20. The following video features a brief part of Rev. Sirico’s contribution to the show. You may see the entire piece by going to The Blaze TV website and signing up for a free 14-day trial. ...

Over on National Review Online, Acton Research Director Samuel Gregg considers what will be Pope Benedict’s last legacy: In ing weeks, there will be mentaries on what this Pope has achieved in a relatively short time. This ranges from his efforts to root out what Ratzinger once called the “filth” of sexual deviancy that has inflicted such damage on the priesthood, his successful outreach to Catholicism’s Eastern Orthodox brothers, his generally excellent bishop appointments, to his reforms of the liturgy....

The Rev. Robert Sirico offers his thoughts on the announcement this morning from Pope Benedict XVI that he is resigning from the papal office as of February 28. It is a sobering thought to think that the last time a Pope resigned (Pope Gregory XII in 1415), America had not yet been discovered. Yes, the possibility of a Pope’s resignation is anticipated in Canon Law (Canon 332), as long as it is disclosed “properly” and of his own free will....

“We’re ing like Europe” captures many Americans’ sense that something has changed in American economic life since the Great Recession’s onset in 2008. An economy once characterized mitments to economic liberty, rule of law, limited government, and personal responsibility appears to be drifting in a distinctly “European” direction. Across the Atlantic, Americans see European economies faltering under enormous debt; overburdened welfare states; high taxation; heavily regulated labor markets; aging populations; large numbers of public-sector workers; and governments controlling close to...

Kishore Jayabalan, Director of Istituto Acton in Rome, gave an interview today with Radio Free Europe/Radio Liberty regarding the resignation of Pope Benedict XVI. While the pope cited his health as the reason he was stepping down, Jayabalan was asked if there were other contributing factors. He does also talk about the pace of global media and politics and events today. So it’s also the circumstances that are surrounding his age and ill-health. I believe what he says, that the...