Economics 101
Part 1 in a series on Economics 101
Editor’s Note: Today we introduce Dr. Anne Rathbone Bradley, a new contributor to this blog and the Vice President of Economic Initiatives here at the Institute for Faith, Work & Economics. While Hugh Whelchel will continue to post on the Biblical doctrine of [...]
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Part 2 in a series on Economics 101
Last week we talked about our fallen-ness and the implications that has for our lives on earth. Economics helps us understand how to flourish in spite of our fallen-ness. It helps us deal with our world where abundance in everything no longer exists. [...]
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Part 3 in a series on Economics 101
We’ve talked broadly about economics and how an economic way of thinking can help us navigate a fallen world. Economics is the study of individual choice under scarcity. Last Friday, we looked at how scarcity is a ramification [...]
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Part 4 in a series on Economics 101
Economists use some terminology that seems unfamiliar and often scares people away from wanting to learn more. I’ve experienced this most in the classroom, having to deal with the trepidation of my students who feel overwhelmed.
But once we unpack these seemingly unfamiliar words, [...]
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Part 5 in a series on Economics 101
The notion of value is one of the aspects of economic thinking that gets a lot of discussion and is often misunderstood. How is it derived? Who determines what something is worth? A lot of public policy is based around altering prices that “seem [...]
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Part 6 in a series on Economics 101
One of the most profound insights of twentieth century economists was that of how knowledge is held in a society and what we do about it. Nobel laureate, Friedrich August von Hayek, actually won the Nobel Prize, in [...]
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Part 7 in a series on Economics 101
Previously we have talked about how knowledge is held in a world of scarcity. Knowledge is personally held and individually known, meaning that while people know different things, no one knows everything. Nobel laureate, Friedrich August von Hayek [...]
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Part 8 in a series on Economics 101
Our ongoing discussion has focused on the importance of understanding economic principles to better understand a holistic definition of stewardship. Our recent foray into understanding prices and their coordinative function as well as their role in helping us overcome the knowledge problem [...]
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