Ramesh Ponnuru says Social Security is worse than a Ponzi scheme. He’s right. It’s more like an inter-generational pyramid scheme, a pyramid tipped on its side… To be sustainable, over time (T) it has to take more from more people (thus a three-dimensional pyramid rather than a two-dimensional triangle. It’s really exponential rather than multiplicative). Social Security. In case you forgot, it still needs fixing. This Christmas, think about the rather unpleasant gift we’ll be leaving the generations that follow...

Today saw the launch of a sharp new look for the Acton Institute website. This new iteration of the website puts content first, with a very uncluttered, fresh look. It also sports some of the latest and greatest in web technology, but I’ll spare you the geekspeak and let you discover all of the bells and whistles for yourself. We hope that you’ll continue to enjoy the Acton website and the rich collection of articles and resources that it provides....

Of course, Santa is based on a historical character. And in many (but certainly not all!) ways, he points forward to Jesus Christ. But in a broader sense, God has created a mystical, mythical, and magical world– that can be overdone or mis-imagined. That said, the mon error is to under-do or under-imagine– out of our “modern” heritage and tainted worldview. I’ve blogged on this quite a few times– and three times in the past month, in noting the 100th...

You can view the most recent list of panies that have received bailout assistance from the federal government via the Emergency Economic Stabilization Act of 2008 (EESA), executed through measures like the Troubled Asset Relief Program (TARP), here (PDF updated 12/16/08). I’m thinking about adding panies to my own personal “naughty” list. Visit the EESA homepage, where you can sign up for EESA e-mail updates as your tax dollars are spent for you. “How is this money being spent?” you...

Catching up on “Revisiting the 1986 economic pastoral”, an article from October in the National Catholic Reporter: The bishops’ point “that Catholics’ moral life cannot be separated entirely from their economic life has relevance for what we’re going through now,” said Kevin Schmiesing, research fellow for the Acton Institute, a proponent of free markets. “Unless you believe there is no ponent to this, that there’s no failure of responsibility, that there’s no greed at work, that those kinds of moral...

O Holy night, the stars are brightly shining. It is the night of our dear Saviour’s birth. Long lay the world in sin and error pining, Till he appeared and the soul felt its worth. A thrill of hope the weary world rejoices, For yonder breaks a new and glorious morn. Fall on your knees! Oh hear the angel voices! Oh night divine! Oh night when Christ was born! Oh night divine! Oh night! Oh night divine! Chains shall he...

In “Betrayed by Madoff, Yeshiva U. Adds a Lesson,” the New York Times interviews students and teachers at the New York University which was closely linked to Bernard Madoff, the financier who has been charged by federal prosecutors with orchestrating a $50 billion Ponzi scheme fraud. In Intermediate Accounting I, undergraduates analyzed how he seemingly tap-danced around the Securities and Exchange Commission. In Rabbi Benjamin Blech’s philosophy of Jewish law course, students pondered whether Jewish values had been distorted to...

In the latest volume of the Mars Hill Audio Journal, host Ken Myers talks with J. Daryl Charles, author of Retrieving the Natural Law: A Return to Moral First Things (Eerdmans, 2008). Charles is associate professor of Christian Studies at Union University, and spent the 2007-2008 year as William E. Simon Visiting Fellow in Religion and Public Life in the James Madison Program at Princeton University. I had the pleasure of meeting Ken Myers at this year’s GodblogCon and am...

It’s the end of the year, so the book lists are out. I’m thinking about conservative icon Russell Kirk. If you want a really enjoyable and edifying read, I mend you begin with The Roots of American Order. That book will give you an understandable and historically grounded sense of what “ordered liberty” means. It will also open the mysteries of Kirk wide to the uninitiated reader. The prose is lively. Highly readable. Kirk is more widely known for the...

In this season of giving, Kevin Schmiesing looks at another form of exchange — trade. He observes that mercial activity “is not an exercise in selfishness, but the practice of properly ordered self-interest, which is of necessity tempered by the wants and needs of others.” Read mentary over at the Acton website and e back to share ments. ...