One of the most astounding economic statistics is the wealth gap between black and white Americans. According to a Pew Research Center analysis of government data from 2009, the total wealth (assets minus debts) of the typical black household was $5,677 while the typical white household had $113,149. Why is the median wealth of white households 20 times that of black households? Plummeting house values were the principal cause, says Pew Research. Among white homeowners, the decline was from $115,364...

The American minister Jonathan Mayhew (October 8, 1720 – July 9, 1766) is credited with coining the phrase “No taxation without representation.”My review of Nicholas Eberstadt’s A Nation of Takers: America’s Entitlement Epidemic appears in the current issue of The City(currently available in print). Eberstadt makes some important points about the sustainability of our society given current trends in our national polity. The most salient feature, contends Eberstadt, is that “the United States is at the verge of a symbolic...

Last week, Barrett Clark summarized some key insights shared at the recent Common Good RVA event in Richmond, Virginia. The event was part of Christianity Today’s This Is Our City project, which seeks to highlight how Christians are “using their gifts and energies in all sectors of public merce, government, technology, the arts, media, and education—to bring systemic renewal to the cultural ‘upstream’ and to bless their neighbors in the process.” This week, the project moves its focus to Detroit,...

Samuel Gregg was recently on WORD-FM: Pittsburgh’s “The Ride Home with John and Kathy” to talk about ing Europe: Economic Decline, Culture, and How America Can Avoid a European Future. They discuss many of the main themes of the book, including: Americans’ changing attitude toward liberty and economic freedom, entitlements, and the welfare state. Listen to their discussion here: [audio: ing Europe is available as a hardcover or an eBook. If you want to learn more, read a free sample,...

I have wrapped up a brief series on the principle of subsidiarity over at the blog of the journal Political Theology with a post today, “Subsidiarity ‘From Below.'” You can check out the previous post, “Subsidiarity ‘From Above,'” as well as my introductory primer on the topic as well. For those who might be interested in reading some more, you can also download some related papers: “State, Church, and the Reformational Roots of Subsidiarity” and “A Society of Mutual Aid:...

In honor of the third annual National School Choice Week, here are some facts you should know about school choice in America. What does “school choice” mean? The term “school choice” refers to programs that give parents the power and opportunity to choose the schools their children attend, whether public, private, parochial, or homeschool. Why is school choice necessary? While there are some excellent public schools in America, many students are trapped in schools with inadequate facilities, substandard curriculum, and...

Acton’s Director of Research and author ing Europe, Samuel Gregg, was featured yesterday on The RJ Moeller Show. Gregg talked about America’s drift towards “social democracy” and other economic themes in his new book; Moeller gives more detail at this post at Values & Capitalism. Click on the audio link below to hear the show. [audio: ...

Theodore Dalrymple, contributing editor of the City Journal and Dietrich Weissman Fellow of the Manhattan Institute, has recently reviewed Samuel Gregg’s new book, ing Europe at the Library of Law and Liberty. Dalrymple observes: In this well-written book, Samuel Gregg explains what can only be called the dialectical relationship between the interests of the European political class and the economic beliefs and wishes of the population as a whole. The population is essentially fearful; it wants to be protected from...

Over at Ricochet, Peter Robinson broaches the oft asked question about intellectuals and their disdain and rage against capitalism. Robinson unearthed Robert Nozick’s, “Why Do Intellectuals Oppose Capitalism?” Nozick declared, The schools, too, exhibited and thereby taught the principle of reward in accordance with (intellectual) merit. To the intellectually meritorious went the praise, the teacher’s smiles, and the highest grades. In the currency the schools had to offer, the smartest constituted the upper class. Though not part of the official...

“Judaism loves the market economy,” says Jonathan Sacks, Chief Rabbi for the British Orthodox synagogues. Rabbi Sacks explains how the “beautiful idea” parative advantage promotes peace, cooperation and tolerance among all people. (Via: Chris Robertson) ...