Gunnar Myrdal: The Moral Economist

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 burn as people die due to warfare, diseases, and hunger. All the while, the clash between globalism and nationalism only seem to make things worse. Continue reading “Gunnar Myrdal: The Moral Economist”

Is Social Capital the Most Important Type of Capital?

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. Continue reading “Is Social Capital the Most Important Type of Capital?”

The Church Acknowledges Doing Bad by Doing Good

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 or our intrinsic empathetic nature, we want to help people and the best way we know how is by giving money. But sometimes, we might be doing more bad than good.

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Why Societies Prosper and Others Stay Poor or Stagnant

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 features can only come about in a society in which the political institutions defend the individual rights and liberties of its members. Freedom, undoubtedly, is what enables societies to flourish.

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