Note: This is post #35 in a weekly video series on basic microeconomics. Does trade harm workers by reducing the number of jobs in the U.S.? Is it wrong to trade with countries that use child labor? In this video by Marginal Revolution University, Alex Tabarrok discusses some of the mon arguments against international trade. (If you find the pace of the videos too slow, I’d mend watching them at 1.5 to 2 times the speed. You can adjust the...

Last week, Facebook founder Mark Zuckerberg endorsed the idea of a universal basic e during mencement address at Harvard University. Samuel Gregg, Acton Institute Director of Research, joined host Drew Mariani on Relevant Radio yesterday to discuss the arguments for and against the idea, and whether it would even work as advertised. You can listen to the interview via the audio player below. ...

Note: This is the post #19 in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introductionhere. Cabinet position:U.S. Trade Representative (USTR) Department: Office of the United States Trade Representative, which is part of the Executive Office of the President Current Representative:Robert Lighthizer Department Mission:“The Office of the U.S. Trade Representative (USTR) is responsible for developing and coordinating U.S. international modity, and direct investment policy, and overseeing negotiations with other...

An illustration of the Peter Principle. Source: Wikimedia Commons. Public Domain. Today at Public Discourse, I argue that in addition to idealism and self-interest, petence needs to be recognized as a more important factor in politics: [U]nless we add petence as a category of analysis, we will tend to view every victory for our own team as a triumph of justice or freedom or equality (idealism), and every failure the result of deep and convoluted corruption (self-interest). This is not...

“If school choice effectively functions as a standing critique of public education as well as being a potential solution to problems evident in the current system,” asks Hunter Baker in this week’s Acton Commentary, “how can public school advocates ever approve of an appointee like Betsy DeVos?” That question leads to others. What is the mission of the Department of Education? And if that mission is defined as advancing public education in the United States in a particular way, then...

In Europe, the answer to one bad economic policy seems to be another bad economic policy. However, if such failures intersect in the right way, the problem goes from being a fiscal to a moral problem. Take the issue of“eurobonds,”a concept wholeheartedly supported by newly elected French President Emmanuel Macron. Think of eurobondsas the redistribution of debt. The mechanism essentiallypools the collective debt of itsremaining 27 members at the EU level. Eurobondswould allow nations like Greece to borrow more money...

Professor Wim Decock In recognition of Professor Wim Decock’s outstanding research into the fields of theology, religion and economic history, the Acton Institute will be awarding him the 2017 Novak Award. Professor Wim Decock teaches legal history at the Universities of Leuven and Liège (Belgium). He is an associate fellow at Emory University’s Centre for the Study of Law and Religion (USA) and an affiliate researcher at the Max-Planck-Institute for European Legal History (Germany). Decock holds an M.A. in Classics,...

On May 18th, the spring 2017 Acton Lecture Series wrapped up with an address from Lawrence Reed, president of the Foundation for Economic Education. Reed’s talk was based on his recently released book,Real Heroes: Inspiring True Stories of Courage, Character, and Conviction. We’re pleased to share the video of his lecture below. ...

In response to increasing economic disruption and drastic social shifts in American life, Sen. Mike Lee recently launched the Social Capital Project, a multi-year research project dedicated to investigating “the evolving nature, quality, and importance of our associational life.” As I recently noted, the project’s first report highlights the connections between “associational life” and the nation’s economic success, stopping short ofspecific policy solutions. “In an era where many of our conversations seem to revolve around the individual and large institutions,...

After last weekend’s G-7 and NATO summits, leading figures would have the world believe that transatlantic relations are rougher than ever, literally as well as figuratively. The media have highlighted such ephemera as President Trump’s allegedly pushing the prime minister of Montenegro and his white-knuckle handshake with French President Emmanuel Macron. European politicians, however, speak in starker tones about the twin threats of a Trump presidency and an impending Brexit. German Chancellor Angela Merkel announced her despair at a campaign...