Note: This is post #124 in a weekly video series on basic economics. What is fiscal policy? As economist Tyler Cowen explains, the simple answer is that it’s a government’s policies on taxes, spending, and borrowing. But how it’s practiced is a little plicated. Fiscal policy can be used in an effort to mitigate fluctuations in the business cycle—to soften the effects of those booms and busts. (If you find the pace of the videos too slow, I’d mend watching...

Millennials recently surpassed Baby Boomers and Generation Xers to e the largest generation in the American workforce—a development that has likely led many to recall mon stereotypes about millennials as dreamy-eyed idealists or lazy, plainers. But if we look past our various cultural prejudices, what does the evidence actually indicate? If the attitudes and priorities of Generation Y are, in fact, so strikingly distinct from their counterparts, what might it tell us about the future shape of economic order? In...

The European Parliament in Brussels In my previous Letter from Rome, I asked whether populists have the capacity to govern, given the failings of the Italian coalition made up of left-wing and right-wing populists and their apparent disdain for ideology. In the wake of the recent elections for the European Parliament, the corollary question is whether non-populists can actually win elections. It’s a bit of a trick question, since elections are popular by nature, even if they are not always...

Forget Ronald Reagan and John F. Kennedy, Richard Nixon and Bill Clinton as well. And do the same regarding Harry Truman and Dwight Eisenhower. The most consequential American president since the end of World War II was Lyndon Baines Johnson. The man — who possessed a bination of savvy, lack of character and progressive faith — created the Great Society and helped to shape the modern-day United States. Whether you like him or not, we all live under the shadow...

Sen. Cory Booker, then a Newark city councilman, made the case for school vouchers at an Acton sponsored October 2000 event at the Wealthy Theater in Grand Rapids saying, “The cost of not doing the program is having continuing generations of kids chained to failing schools when they could be easily liberated if the parents were given the right to choose where they go with their money.” School vouchers were then a hot topic in Michigan as Michiganders were debating...

Rubber Wall? Although populists have won in many countries — Salvini in Italy, Le Pen in France, Farage in the United Kingdom, Nationalists in Belgium, Law and Justice in Poland, and Orban in Hungary — everything points out that little will change in the distribution of power and in the political dynamics within the European Union. The European unification project is authoritarian, and the European Parliament is a decorative body, practically irrelevant. The Eurocrat establishment is a rubber wall, no...

Photo Credit: Michael Matheson Miller Here is a podcast interview I did recently with my friend Matt Leonard, host of The Art of Catholic and Next Level Catholic Academy. Matt and I talked about some of the foundational ideas of Christian thinking in contrast with the dominant secular way of seeing the world. As you can see from the title of Matt’s show, The Art of Catholic, this podcast is directed to a Catholic audience, but many of the ideas...

Americans say some religious groups continue to be discriminated against and disadvantaged, according to recent surveys by Pew Research Center. The surveys asked Americans which of three religious groups face discrimination: Jews, Muslims, and evangelical Christians. More than three-in-four Americans (82 percent) say Muslims are subject to at least some discrimination, and a majority says Muslims are discriminated against a lot. These results have not changed since the question was asked in 2016. Roughly two-thirds of Americans (64 percent) also...

Robbing Peter to pay Paul. This is an idiomatic expression about bad – or at least disappointing – economics. Curiously, it was born within the context of the Church’s supposedly poor financial administration of its properties. While there are many sources to the origin of the idiom, there is a famous story from 17th C. England when a bishop was said to have ordered funds transferred from one old church (St. Peter’s Abbey) to another in disrepair (St. Paul’s Cathedral)....

After surviving a no confidence vote last December, and suffering two of the largest legislative defeats in modern parliamentary history, UK Prime Minister Theresa May announced this morning that she will step down as prime minister. Barely suppressing tears, “the second female prime minister but certainly not the last” said she was leaving office “with enormous and enduring gratitude to have had the opportunity to serve the country I love.” Here are the facts you need to know: 1. Theresa...