Image source: Paul M. Walsh Earlier today, Reverend Billy Grahampassed awayat the age of 99. He will be remembered as a global evangelist, a counselor to presidents, a dispenser of wisdom via his daily advice column, and – for millions – the man who led them to believe in Jesus Christ as their personal Lord and Savior. Over the course of his ministry, Rev. Graham brought biblical insights to bear on the social issues of his day. Below are seven...

Due to a range of cultural pressures and government incentives, the four-year college degree has e somewhat of a rite of passage in economic life. From the prompts of parents and teachers to the prods of student-loan subsidies, we are routinely encouraged to double down on a cookie-cutter approach to higher education. Yet as college tuition continues to rise — outpacing general inflation by a wide margin — and as students find themselves increasingly skeptical of the promise of such...

The Rev. Billy Graham diedtoday at the age of 99. Here are five facts you should know about the man who became the world’s most famous Protestant evangelist. 1. In 1934 at the age of 16, Graham was turned down for membership in a local youth group because he was “too worldly.” A man who worked on the Graham farm persuaded the young man to go and see the evangelist Mordecai Ham. According to his autobiography, Graham was converted during...

Whenever a new economic policy is proposed or introduced, we are immediately confronted by a wave of pundits and pontificators, each offering their own spin on its real-world implications. Far too often, however, such analysis gives way to a flurry of passions: emotional, ideological, and otherwise. Which begs the question: What is the public purpose of the economist? According to economist Peter Boettke, it has to do with the illumination of truth, not only about market processes, but political processes,...

“Our mission is to harness economic power—the strength of consumers, investors, businesses, and the marketplace—to create a socially just and environmentally sustainable society.” Some readers might assume the epigraph above derives from some classic of moral and economic literature – perhaps, say, Adam Smith’s A Wealth of Nations or A Theory of Moral Sentiments. However, the platitude I quoted actually belongs to the staunchly anti-Genetically Modified Organisms (GMOs) nonprofit Green America. The words, in fact, are Green America’s Mission Statement....

On this episode of Radio Free Acton, Rev. Ben Johnson, Senior Editor at Acton, speaks with Philip Booth, Professor of Finance, Public Policy and Ethics, St. Mary’s University in the UK, about Catholic Social Teaching in China. Then, we have an Econ Quiz segment on wealth redistribution. Finally, Dan Churchwell, Associate Director of Program Outreach at Acton and Jay Richards, Executive Editor at The Stream, talk about how technology affects work. Check out these additional resources on this week’s podcast...

The newest issue of the Journal of Markets & Morality has been published online and print copies are ing. This issue is the first with our new executive editor Kevin Schmiesing and our new book review editor Andrew M. McGinnis. You can read more about our transition in my editorial to the issue, which is open-access here. In addition to our regular slate of scholarship on the morality of the marketplace, this issue includes two review essays (one by me...

Note: This is post #69 in a weekly video series on basic microeconomics. When we buy a good or make a decision about how to use our time, we do so because we believe we are getting some sort of value from our choice, such as a sense of happiness or satisfaction. Economists call this “utility.” In this video by Marginal Revolution University, Joana Girante discusses the increase in the value from buying an additional unit of a good or...

In light of Reverend Billy Graham’s recent passing, we’d do well to pause and reflect on his life and legacy, which was defined by the spreading of the Gospel, and doing so in a way that inspired deep faith and authentic relationship with Jesus. Although Rev. Graham mostly steered clear of the partisan fray, he frequently offered strong challenges to the American people on social and economic issues, from opposing racial segregation to drawing a distinct contrast between Communism and...

As we were walking down the street of a small village within Barahona in the Dominican Republic, we met a woman living in a humble home with her family. She had constructed a metal box out of scraps found discarded near her village, Algodon. On top of the box, she had a fire burning, and inside there was a large pan of yucca bread baking. It smelled delicious. This is precisely the type of person that the Acton Institute Poverty...