“Many persons, having never viewed the subject (of liberty) in this light, charge us with excessive zeal, when they see us so warmly and earnestly contending for freedom of faith as to outward matters, in opposition to the tyranny of the Pope.” – John Calvin Most Americans these days are more worried about the tyranny of…
Category: Economics
Rule by Experts: Two Approaches to Economic Development
“The conventional approach to economic development … is based on a technocratic illusion: the belief that poverty is a purely technical problem amendable to … technical solutions.” ~ William Easterly Under significant political pressure from the left and the right, the Texas Legislature last year let expire the Chapter 313 “economic development” program that allows…
Violate at Your Own Risk: The Immutability of Economic Laws
by Dr. Arthur B. Laffer This is the first in a series of 10 papers by Dr. Art Laffer helping people to “think economically.” What Is Economics? Economics is the scientific study of how humans adjust their behavior to seek happiness as they define it, in light of the fact that they can’t have everything…
Thinking Economically
“In the beginning, God created the heavens and the earth” (Genesis 1:1). As we learn at the very beginning of Scripture, God is the Creator of everything. As such, He is also the owner of everything. Which means we have to follow God’s rules about how to use His property. The good news is that…
Despite its Many Benefits, Innovation is Not Always Embraced
When Sam Walton brought low-cost shopping to millions of American consumers by developing new, more efficient ways to deliver products to market, he had to battle entrenched political interests fighting for locally based retailers. Today’s battle over innovation, as consumers fuel a new trend toward instant delivery, is more about convenience than costs. But the dynamics are the…
Calvinism and von Mises on Human Action
A while back a few of us in my office were discussing Calvinism around the water cooler. Much of the talk related to the concept of free will, a mysterious concept if there ever was one. Even many of those who agree that man has free will can’t agree on what free will means. At…
Jesus Warns of the Consequences of Corporate Welfare
“What the Gospel accounts showed was a Jesus who was very concerned about economic exploitation, but whose economic denunciations were not broad, to-whom-it-may-concern condemnations of all wealth. Instead, He directed His denunciations in very specific geographical and socioeconomic ways, aiming His barbs at the exploitative members of the ruling class. A close and careful reading…
Get the Economics Right: An Interview with Bill Peacock
I was interviewed last year by the good folks at Lara-Murphy Reporting. We talked about economics, electricity, and public policy. I thought I’d republish it here: Lara-Murphy Report: How did you discover Austrian economics? Bill Peacock: Its funny that you ask because I don’t really remember the source. It was in 1989—before the Internet. We…
Shaping the Culture Through Christian Economics
I’ve spent the last 30 years of my life trying to free Texans from government oppression. Given that Texas’ biennial budget has grown from $46.4 billion in 1990-91 to the present $235.2 billion (with the government/budget being under Republican control most of those years) and with it the regulatory, confiscatory, and prosecutorial state has also…
The Trinitarian Nature of Private Property
Genesis 1:1 clearly establishes God as the owner of creation. Genesis 1:28 tells man to fill and subdue the earth (His property) and have dominion over every living thing (also His property). God didn’t transfer ownership–He is still the original owner, but He did delegate ownership. We see man’s responsibilities in properly exercising this delegation…