Thomas Sowell on the Origins of Prosperity

By Joseph Sunde “The mundane progress driven by ordinary economic and social processes in a free society becomes dramatic only when its track record is viewed in retrospect over a span of years.” –Thomas Sowell In a recent edition of Uncommon Knowledge, economist Thomas Sowell discusses his latest book, Wealth, Poverty, and Politics, which provides [Read More…]

Politics, Character, and Competition

By Jordan Ballor The renowned economist F. A. Hayek once observed that “the curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” Many Americans and other observers are waking up today and perhaps, like me, they are thinking that politics has something to [Read More…]

The 6 Elves of Capitalism

By Joseph Sunde In “The Elves and the Shoemaker,” the famous fairy tale by the Brothers Grimm, a cobbler and his wife struggle to survive, barely making enough to eat (never mind investing in the future of their business). One morning, however, they wake to find that their last scraps of leather have been turned into a [Read More…]

Lessons in Humility from the Christ Child

By Evan Koons As Christmas approaches, let us remember and rejoice. The Savior has been born! Strangers and friends, pay attention and live out the Christ-Child Memory. Curious about what that means? Hint: it doesn’t mean swapping your mattress for hay. Check it. We have to be present. We have to show up. We have to [Read More…]

Lessons on Christian Vocation from ‘Chewbacca Mom’

By Joseph Sunde “It doesn’t matter how talented, how anointed, how gifted, how passionate, or how willing you are if you’re not fit to do the things that God has called you to do.” –Candace Payne Candace Payne, now widely known as “Chewbacca Mom,” became an internet sensation thanks to a spontaneous video in which she [Read More…]

Are Christianity and Communism Mutually Exclusive?

By Sarah Stanley Did Pope Francis just publicly endorse Communism? Recent comments have prompted many to suggest he has. During an interview with Eugenio Scalfari, they had the following exchange: [Scalfari:] You told me some time ago that the precept, “Love your neighbour as thyself” had to change, given the dark times that we are going [Read More…]

What Christians Can Learn from Adam Smith’s ‘Paradox of Value’

By Joseph Sunde In a new video from TED Ed, Akshita Agarwal provides a quick lesson on Adam Smith’s “paradox of value” and the differences between “value in use” and “value in exchange.” For Christians, there’s a crucial lesson here about the best way to meet human needs in the economic order, whether through trade policy, reducing price [Read More…]

Technology Seen and Unseen

By Dylan Pahman I, for one, welcome our new robot overlords. Well, not really – mainly because we don’t actually face the threat of Skynet anytime soon. And thankfully neo-Luddites – those who argue for rejecting modern technology – are relatively few these days. Nevertheless, they are not entirely absent, and less extreme but no less [Read More…]

Help People, Not Banks: Reflections on the 2016 Nobel Prize in Economics

By Victor V. Claar The 2016 Nobel Prize in economics was jointly awarded to Oliver Hart and Bengt Holmström on Monday for their shared contributions to our understanding of contract theory. Taken together the work of Hart and Holmström has allowed all of us to understand more clearly what a “good” contract might look like [Read More…]

How Economic Freedom Leads to Human Flourishing

By Joseph Sunde In a special report and symposium for the Washington Times, the Institute for Faith, Work, and Economics has organized an array of diverse perspectives on economic freedom, human flourishing, and the church. Authors include familiar Acton voices and partners such as Michael Novak, John Stonestreet, Christopher Brooks, Jay Richards and Ismael Hernandez, as well [Read More…]