Tag: markets
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How Nations Succeed: What’s the Secret to Ending Poverty?
This piece is a little too narrow in attributing positive change almost exclusively to markets. I would argue that things are considerably more complicated, and the video would be more convincing with some balance. But the video does powerfully place our economic moment in time in context.
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Reforming Health Care With Cost Transparency
Some Oklahoma doctors are trying to reform the healthcare industry by offering cutting waste from surgical services and making costs transparent. They founded the Surgery Center of Oklahoma. Reason.tv has produced a video about it. Here is what they have to say on their YouTube page. Three years ago, Dr. Keith Smith, co-founder and managing…
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I, Pencil – The Movie
More than fifty years ago, Leonard Read wrote his famous essay, I, Pencil: My Family Tree as told to Leonard E. Read." It has been used in economics classes ever since to help students understand the incredible complexity of market economies. The free market think tank, The Competitive Enterprise Institute, has made a six-minute video…
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Bono, Capitalism, and Foreign Aid
Forbes had an interesting article about Bono, Bono's 'Humbling' Realizations About Aid, Capitalism And Nerds last week. Bono has learned much about music over more than three decades with U2. But alongside that has been a lifelong lesson in campaigning — the activist for poverty reduction in Africa spoke frankly on Friday about how his views…
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What Isn’t for Sale?
The Atlantic: What Isn't Sale for Sale? Market thinking so permeates our lives that we barely notice it anymore. A leading philosopher sums up the hidden costs of a price-tag society. I'd quibble with the author at some specific points. It is hyperbole to say "everything" is up for sale. Creating markets for some things…
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Choice is Good
Recently I've posted on the challenge of having too much choice. Victor Claar resurrects this Wendy's commercial from the Soviet Union era to illustrate why choice can be good.
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Why the Uproar to Spirit Airlines Solution to the Tragedy of the Commons?
Tragedy of the Commons describes a circumstance where a group of individuals acting responsibly and conscientiously will ultimately exhaust a commonly shared limited resource. Take a community where each family has a small herd of cattle and a commonly owned grazing area. It is in each family’s interest to feed their cattle well and to…
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How to feed the world
Economist: How to feed the world IN 1974 Henry Kissinger, then America’s secretary of state, told the first world food conference in Rome that no child would go to bed hungry within ten years. Just over 35 years later, in the week of another United Nations food summit in Rome, 1 billion people will go…
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Prosperity: Food Supply
Today we turn to the food supply component of the cycle of prosperity. At the core of the food supply is crop production. With the exception of what few hunting and gathering methods are still used, most food comes from domesticated crops or animals that feed on crops.Arrow B Historically, food supply has been directly…
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Theology and Economics: Two Applications
Over the past six months, I have been blogging this series on Theology and Economics. I have made the case that Scripture, inspired by God, places us within a narrative. Scripture gives us God's unfolding story up to the days of the First Century Church. It also tells us something about the end of the…