The Soviet invasion of Czechoslovakia began in earnest 50 years ago today, with the intention to destroy the blooming “Prague Spring.” But today, the truths that invasion revealed have been lost, both in the West and among many young people in the Czech Republic and Slovakia. Krassen Stanchev of Bulgaria recounts the invasion’s history and importance in detail at Acton’sReligion & Liberty Transatlanticwebsite. In a new essay, he writes: On this date in 1968, armies of the Warsaw Pact invaded...

Note: This article is part of the ‘Principles Project,’ a list of principles, axioms, and beliefs that undergirda Christian view of economics, liberty, and virtue. Click here to read the introduction and other posts in this series. The Principle:#1 – Because everything in creation belongs to God, man is never more than a steward and must act accordingly. The Explanation: Economics can be defined as the science of purposeful individual action in an attempt to satisfy an unlimited number of...

“If economics is the dismal science,” says Hans Noel, an associate professor at Georgetown University, “then political science is the dismissed science.” Most Americans—from pundits to voters—don’t think that political science has much to say about political life. But there are some things, notes Noel, that “political scientists know that it seems many practitioners, pundits, journalists, and otherwise informed citizens do not.” Here are excerpts from Noel’s list of ten things political scientists know that you don’t: #1. It’s The...

For many years I was unable to understand the reasoning behind the claims that e inequality is a moral issue that only applies at the group level. Then it came to me like an epiphany—or more accurately, as a Groupon email. According to Wikipedia, the Groupon works as an assurance contract: If a certain number of people sign up for an offer, then the deal es available to all; if the predetermined minimum is not met, no one gets the...

A young professor panies his mentor to a private meeting of economists from around the country. As they take their seats the host says, “To start us off, let’s have a few rounds of the best jokes.” An elderly woman stands up and says “37,” and everyone laughs. Another yells “49,” and the crowd cackles hysterically. This goes on for a while, when the young man turns to his senior and says, “I don’t get it, numbers aren’t funny.” His...

On this episode of Radio Free Acton, host Caroline Roberts speaks with Dave Hebert, Professor of Economics at Aquinas College for another Econ Quiz segment on the topic of pensions and state debt. Then, on the Upstream segment, Bruce Edward Walker talks to Phil Terzian, a writer for The Weekly Standard, on the blind spots in the legacy of Frida Kahlo as well as our modern understanding of Stalinism. Check out these additional resources on this week’s podcast topics: Read...

Note: This is post #90 in a weekly video series on basic economics. Most borrowers, such as individuals and small businesses, borrow through banks. But larger institutions can also borrow from a different financial intermediary: the bond market. In this video by Marginal Revolution University, Alex Tabarrok explains what bonds are, what they do, how they’re rated, and how the bond markets work. (If you find the pace of the videos too slow, I’d mend watching them at 1.5 to...

New York City has enacted the first-ever government cap on the number of vehicles licensed to ride-sharing services like Uber or Lyft. On Tuesday, Mayor Bill de Blasio signed the bill imposing a one-year moratorium on new licenses, establishing a minimum wage for drivers – and touching off an international debate among Christians and others about the morality of Uber. “As the council was considering the legislation, some in my church circles discussed avoiding ride-sharing as a way to love...

“This year marks the 40th anniversary of one of the most consequential anti-poverty programs in human history,” says Rev. Ben Johnson in this week’s Acton Commentary. “Now, there is evidence that its spillover effects may lift millions more out of dire need.” The new openness to enterprise, private property, and investment led to China’s meteoric economic rise. Now, Donald Trump’s tariffs are encouraging manufacturers to take their factories elsewhere. Ian Chen, CEO of a Chinese technological exporter, said that Trump’s...

It was in Godfather III where Al Pacino as Michael Corleone said it first and said it best: “Just when I thought I was out, they pull me back in!” Before we were able to put away our party hats after celebrating the Supreme Court’s Janus decision in June, Missouri rejected a right-to-work measure at the state’s primary ballot box last week. And now Sen. Elizabeth Warren (D-MA) wants to do a federally legislated end run around Janus with a...