The first rule of economics is TANSTAAFL: There Ain’t No Such Thing as a Free Lunch.[1] While something might appear to be free (e.g., education, healthcare, etc.), there is always a cost to someone.
Full Story »Economic Borrowed Capital
With some variations, those who hold to a biblical economic model share many fundamental principles with advocates of a free market, or, as I hope to demonstrate, free marketers share many fundamental economic principles with advocates of a biblical worldview.
Full Story »Socialism and Immigration
Ronald Reagan had the courage to call modern liberalism what it is: warmed over socialism. When was the last time you heard a politician, from either party, call a government program, subsidy or entitlement, “socialism?”
Full Story »Darwinian Economics
In a study released yesterday on the Financial Times website, it was revealed that the richest 2% of adults in the world own more than 50% of the total assets, while the poorest half of the population hold a mere 1%. Although this may help to foster greed and envy among the poor of the world, it really only goes to confirm the “Golden Rule,” i.e. he who has the gold makes the rules, as Hernando de Soto points out in his book The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.”
Full Story »A New Year’s Resolution: All the Bible for All of Life
Many Christians approach life as if it is made of bits and pieces of unrelated reality. They struggle to see the relationship between seemingly contrasting categories. In fact, Christians often have been taught that the Bible addresses exclusively spiritual issues while some other standard should be used to govern how we should think about secular matters such as law, economics, politics, education, and business.
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