The European discount grocery chain Lidl stirred controversy by removing the cross from its products’ labels, so as not to give offense. Eagle-eyed consumers noticed that Eirdanous, its Greek food line, featured a picture of a blue-domed Greek Orthodox Church by the sea – but unlike every other such church, its cupola was not topped by a cross. pany Photoshopped the symbol of Christ’s victory over death and Hell off of the Anastasi(in Greek, literally, “resurrection”) Church inSantorini. Perhaps to...

In the aftermath of Hurricane Harvey, which made its initial landfall on the Texas Gulf Coast in late August, many are questioning whether price-gougers acted immorally when ratcheting up the prices of their goods. Now that Hurricane Irma is tearing through Florida and the Southeast, people are once again questioning the motivations behind heightened prices. Acton affiliate scholar Victor Claar, who teaches economics at Florida Gulf Coast University in Fort Myers, points out in a Detroit News opinion piece that...

The U.S. Census Bureau released its latest report on e and poverty in the United States today. Here are seven figures from the report you should know about: 1. Real median household e increased 3.2 percent between 2015 and 2016—from $ 57,230 to $59,039. (This figure surpasses the previous high reached in 1999.) 2. Real median es in 2016 for family households ($75,062) and nonfamily households ($35,761) increased 2.7 percent and 4.5 percent, respectively, from their 2015 medians. (This is...

Would a nationwide $15 minimum wage help or hurt American workers? Andy Puzder, former CEO of the pany of Hardee’s and Carl’s Jr., explains. ...

The president of France, with the agreement of Germany, has called for the creation of a single eurozone finance minister who would exercise some authority over the budgets of all its member nations – and the right to redistribute wealth between them. Yet the euro itself removes 19 widely divergent economies from market influences, does not incentivize good behavior or disincentivize bad behavior, and ignores the most important lessons of Western culture. The last oversight is the most important, according...

Note: This is post #48 in a weekly video series on basic microeconomics. Ever wonder why pharmaceuticals are so expensive? In this video by Marginal Revolution University, Alex Tabarrok shows how low elasticity of demand results in monopoly markups. This is especially the case with goods that involve the “you can’t take it with you” effect (for example, people with serious medical conditions are relatively insensitive to the price of life-saving drugs) and the “other people’s money” effect (if third...

The North Korean people are not the same as the North Korean regime. Photo: “Pyongyang, North Korea” by (stephan) (CC BY-SA 2.0) Today the United Nations Security Council will meet and vote on a resolution to impose new restrictions on North Korea. This resolution is a direct response to recent North Korean missile activity and threats from Kim Jong Un. On July 4, North Korea tested an intercontinental ballistic missile and claimed it could hit any nation on Earth and...

In a society where personal identity is conveyed by one’s job title, it is of little wonder that the nation’s youth are so anxious about career choice. But what if your identity is found in Christ? What if living vocationally has nothing to do with finding the “perfect” career? ...

Today marks the 16th anniversary of the worst terrorist attack ever on American soil. Here are five facts you should know about what happened in the aftermath of the events on September 11, 2001: 1. It took 99 days—until December 19, 2001—for thefires at Ground Zeroto be extinguished.Cleanup at Ground Zero wasn’t pleted until May 30, 2002. It took 3.1 million hours of labor to clean up 1.8 million tons of debris at a total cost of cleanup of $750...

Defending the free market and advocating for ever-greater access to capital is of paramount importance during uneven economic patches. That is how Christians should ments from Justin Welby, the archbishop of Canterbury, who recently said that the economy is “broken.” The archbishop cited familiar economic data of unequal economic growth, youth hopelessness, and questions about wage stagnation. Many of these are part of a ing report from the IPPR’s Commission on Economic Justice, of which he is a member. But...