Category: Economics

Incentives are important, but…

Scripture: Psalm 24:1, 100:3; Luke 6:38; Rom. 14:12; 1 Cor. 4:2; Col. 1:16; Eph. 6:7 One of the first statements in most economics textbooks is that incentives are important for understanding behavior.…

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Post Scarcity Series, Part II: The Exponential Age

By the law of our nature which makes food necessary to the life of man, the effects of these two unequal powers must be kept equal. This implies a strong and constantly…

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The Power of the Market

“The real and effectual discipline which is exercised over a workman is that of his customers.  It is the fear of losing their employment which restrains his frauds and corrects his negligence.”    …

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Post Scarcity Series, Part I

Thus for the first time since his creation man will be faced with his real, his permanent problem—how to use his freedom from pressing economic cares, how to occupy the leisure, which…

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Greed is Good?

Scripture: Matthew 25:14-30; Luke 12:15 In the 1987 movie “Wall Street,” actor Michael Douglas, known as Gordon Gecko in his movie role, made the following impassioned plea for change before the mythical…

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Doing Business with Africa, Part I

“Every man lives by exchanging.”                                                – Adam Smith[1] University…

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Should Christians be “All In” for the Minimum Wage Increases?

Recently, the Bureau of Labor Statistics (BLS) produced a report on the “Characteristics of Minimum Wage Workers” for 2014. Of all 77.2 million hourly workers, less than one in twenty-five earns the…

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When a Catalyst Imports Itself to the Same Local Economy

I recently traveled to western Pennsylvania through eastern Ohio.  During my travels I couldn’t help but notice the poor condition of the roads.  Interstate 70 was in particularly bad shape with “car…

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