Gotta get y’alls blood pumping for this post, so let’s start with a pop quiz! Yes, this is graded. Which country is more prosperous? The US or Saudi Arabia? Got your answer locked in? Surprise! According to the GDP per capita, they’re basically the same level. The US wins, but not by much. Why is … Continue reading Amartya Sen: Just What are We Capable of?
The rise of the camera phone has allowed us to capture the world in the form of candid videos more than ever before. We get front row seating to the tensions of racial disparity here in the United States. We also get to watch the Middle East and other regions in the world crash and … Continue reading Gunnar Myrdal: The Moral Economist
In the modern economy, where we are continually pushed to specialize and become freelancers, social capital is becoming more important than ever. But, like anything else in life, if you want more of it, you have to put in a little effort. Bootstraps don’t work on their own We see the phrase, “pull themselves up … Continue reading Is Social Capital the Most Important Type of Capital?
This morning’s message hit home in the resident economist’s heart. Christ brings us out from the woodworks to produce good works for our fellow man. The communities within (I’m guessing most) churches is the perfect mix of contagion and accountability to be “selfless” every now and again and redistribute our excesses. Whether it’s our faith … Continue reading The Church Acknowledges Doing Bad by Doing Good
It is all too easy to confuse the evidence of prosperity with its cause. An educated population, access to capital and sound financial markets, a diverse and productive labor force, innovative businesses, and general material abundance are surely hallmarks of a prosperous society. Yet these features merely describe prosperity. They do not explain it. These … Continue reading Why Societies Prosper and Others Stay Poor or Stagnant