The Goldwater Institute has released a new study showing that states with a larger share of entrepreneurs do a better job at reducing poverty than states with fewer entrepreneurs. There is a strong connection between a state’s rate of entrepreneurship and declines in poverty. Statistical analysis of all 50 states indicates that states with a larger share of entrepreneurs had bigger declines in poverty. In paring states during the last economic boom—from 2001 to 2007—data show that for every 1...

In this entertaining video Walter Williams, Professor of Economics at George Mason University, explains whythe free market is morally superior to other economic systems. My favorite es near the beginning when Williams explains that money is a form of “certificate of performance” that serves as proof of having served our neighbors. ...

One night during either my sophomore or junior year of college, while delaying the doing of homework by walking around the upstairs of Taylor University’s library looking for embarrassing books I could hide in friends’ backpacks so the alarm would go off when we walked out together and they’d have to sheepishly present them at the front desk, I stumbled upon a little treatise called The Law by some French dude named Frederic Bastiat I had never heard of. I...

Here is ment posted this this morning on the National Catholic Reporter article titled, “Statement on economy denounced by archbishop fails to pass.” Full statement follows: An important clarification. Archbishop Fiorenza’s assertion that the Acton Institute views Rerum Novarum as “no longer applicable today” is incorrect. The archbishop is most likely basing this claim on a June 2012 America Magazine blog post by Vincent Miller titled, “Sirico Completely Wrong on Church’s Social Teaching.” See link. In the post, Miller cites...

I will not indulge in any sort of “what would Dorothy Day do” when es to thinking about the current US Catholic Bishops’ Conference taking place in Baltimore. However, it is interesting to ponder this woman who exemplifies so much of 20th century Catholicism and the bishops’ agenda, especially as the bishops discuss cause for her canonization, while on the same day failing to pass a pastoral message on economics. Their last pastoral letter on economics was in 1986, “Economic...

Registration for 2013 Acton University, scheduled for June 18-21 at the DeVos Place Convention Center in Grand Rapids, Mich., will open Thursday November 15. Stay tuned to Acton’s homepage and the AU website for further news and announcements. If you haven’t had the chance to attend in the past, make this the year you do! ...

Because it is right, because it is wise, and because, for the first time in our history, it is possible to conquer poverty … Lyndon B. Johnson’s Special Message to Congress, March 16, 1964 Anthony menting on the preference black voters showed for President Obama, points out that Lyndon Baines Johnson’s War on Poverty policies “introduced perverse incentives against saving money, starting businesses, getting married, and they discouraged fathers from being physically and emotionally present for their children — resulting...

We need to trim government programs today in order make way for bigger government tomorrow. That seems to be the message former treasury secretary and Obama economic advisor Larry Summers delivered today at the Washington Ideas Forum: “If we want to have the same kind of society we always had…you may see some upward drift in government,” he said. “That’s why you need to work ever harder to eliminate government activities that don’t need to take place.” Summers deserves credit...

In the November issue of Christianity Today, Dr. Amy Sherman, senior fellow at the Sagamore Institute has published an article entitled “The Cutting Edge of Marketplace Ministries.” In this article Sherman describes “holistic ministry” being done by a variety of businesses. Businesses are able to plish this kind of ministry in part when “pastors and faithful Christians grasp their role in God’s economy of all things,” as Stephen Grabill, director of programs and international at Acton Institute describes the work...

“Forever stamps” are a form of non-denominated postage first introduced in 2006. The U.S. Postal Service recently issued a “Four Flags” version which “continues [the U.S. Postal Service’s] tradition of honoring the Stars and Stripes.” But there seems something peculiar—even a bit ominous—about the new stamps. Is the USPS trying to send us a message that freedom and liberty in America won’t last forever? Well, probably not. Turns out that when images of postage stamps are printed, a line is...