If President-elect Donald Trump wants to make America great again, he needs to find a way to reduce the federal debt. Samuel Gregg, in a new article at the Stream, explains why this is so important. There’s much at stake if no action is taken to reduce the federal debt: On December 30, 2016, the United States’ official publicdebtwas $19.97 trillion. It’s almost doubled since 2008. It also exceeds the size of America’s economy in nominal GDP in 2016 ($18.56...

Economists disagree about the effects of raising the minimum wage—but not as much as you might imagine. Almost all of the serious debate is whether an increase of 20 percent or less will have a detrimental or negligible effect on workers and the economy. Some economists, especially those who think the minimum wage should be $0, contentthat any increase is harmful. Others think the current federal minimum wage could be bumped up by 20 percent before it would lead to...

Globalization is routinely decried for its disruptive effects, particularly as it relates to local culture munity enterprises and institutions. Even as it’sproven to drive significant economic growth, questions remain about its steamrolling influence on the culture. “Even if we grant that petitive markets create prosperity, is it worth the fast food chains and the big box chains we see everywhere we go?” asks Michael Millerin an excerpt from PovertyCure. “What about a sense of vulgarity and bringing things to the...

Series Note: Jobs are one of the most important aspects of a morally functioning economy. They help us serve the needs of our neighbors and lead to human flourishing both for the individual and munities. Conversely, not having a job can adversely affect spiritual and psychological well-being of individuals and families. Because unemployment is a spiritual problem, Christians in America need to understand and be aware of the monthly data on employment. Each month highlight the latest numbers we need...

“A lot of doom and gloom types say we’re living in dark times. But they’re wrong,” says economistDonald J. Boudreaux. “While there are real problems, the world has never been healthier, wealthier, and happier than it is today. Over a billion people have been lifted from dire poverty in just the past few decades.” ...

Chirrut Îmwe The newest Star Wars film, ‘Rogue One: A Star Wars Story,’ has enjoyed a box office success of more than $700 million since its release and generally positive reviews from fans and critics alike. The film series has a mythic quality for many, offering stories of heroism, betrayal, virtue, pride, and even spirituality. At First Things this week, Marc Barnes offers a decent analysis of the different developments of how the Force in particular — the main religious...

Today is the 250th anniversary of Jean-Baptiste Say, one of the most important economic thinkers of the nineteenth century. Here are five facts you should know about this French economist: 1. Say’s conviction that the study of economics should start not with abstract mathematical and statistical analyses but with the real experience of the human person was likely based on his own vocational experiences. He had worked at a broad range of occupations including journalist, soldier, politician, cotton manufacturer, writer,...

Are you a parent or thinking of ing one? If so, the federal governmenthas a new report that will cause your bank account to gasp. According to the Department of Agriculture, the estimated cost of raising a child from birth through age 17 is $233,610, or as much as almost $14,000 annually. That’s the average for a e couple with two children (the cost is more in urban areas and a bit cheaper in rural locales). While this may sound...

Acton Institute Director of Research – Samuel Gregg Jorge Bergoglio, the Argentine Pope, has led the Catholic Church for four years. He released two encyclicals, Evangelli gaudium(2013) andLaudato si’(2015). Samuel Gregg recently sat down with Anthony Gill of the Baylor Institute for Studies of Religion for an in depth discussion on Pope Francis’ encyclicals among a few other topics such as Argentina and how Juan Perón may have inspired the Pope on his views of economics. You can listen to...

When es to government programs for redistributing e, nothing is quite as malevolently effective as state lotteries. Every year state lotteries redistribute the e of mostly poor Americans (who spend between 4-9 percent of their e on lottery tickets) to a handful of other citizens—and tothe state’s coffers. This video by Crackedshows what a lottery ad would be like if the government-run business was forced to be honest:“The only reason it stays legal isbecause the government is the profiteer of...