Economics

“Generally, protectionist policies are implemented in order to protect workers and industries, however, they also have the effect of throwing market incentives off balance. When a nation employing protectionist policies disincentivizes other countries from importing or exporting goods, their comparative advantage is ‘dulled’ ” - Acton

“Oxfam’s annual report ‘gives a misleading picture of wealth,’ CEPOS states. ‘Global wealth [inequality] has actually reduced over the past 20 years.’” - Acton

“In our constant effort to define poverty, we have focused too narrowly on the symptoms of poverty and not enough on the actual cause….By not considering the roots of poverty, attempts to treat it will only provide temporary relief and likely negative effects in the future.” - IFWE

“Facing potential starvation, the colony abandoned their communal system. Each family was given their own land ….they alone were responsible for feeding themselves, taking to heart Paul’s admonition in 2 Thessalonians 3:10, ‘The one who is unwilling to work shall not eat.” This change brought dramatic results.’” - IFWE

“To the extent that flourishing economies burst forth from fertile soil, it’s worth asking whether economic experiments like these can aid us in understanding how soil that is currently infertile might be enriched. But we should also ask whether some of our current efforts are poisonous rather than enriching.” - Acton

“… if we recognize the inherent value of the individual we would aim to restore that person to a condition of personal freedom and independence. Our goal would be to raise the poor to a place where they are personally responsible for their own lives.” - IFWE

A review of Greg Forster’s new book Economics: A Student’s Guide—aimed at helping Christian students confronted with anti-Christian thinking on economics. - Acton

“The economy is a system through which we exchange value and make a contribution that benefits both ourselves and others. Accordingly, it would be tempting to arrive at some judgment of our own value as a person based on the rewards that arise through our economic participation. Of course, that isn’t true or even mostly true.” - Acton

“The parent company of the two largest Bible publishers in the United States has warned the Trump administration that proposed tariffs on China would amount to a ‘Bible tax.’” - Baptist Standard

“The cardinal unfortunately reverts to a simplistic caricature of Adam Smith’s ‘invisible hand,’ contrasting it with the ‘visible hand of an economy which is able to serve all members of the community well.’ … Smith’s point was that demanding people to ignore their self-interest, as moralists are wont to do, is unrealistic and socially destructive, encouraging hypocrisy rather than virtue.” -