Economics 101
Part 9 in a series on Economics 101
Peter Boettke of George Mason University, my graduate school professor and mentor, used to talk about Michael Jordan a lot in his lectures. He said, unabashedly, that Michael Jordan was and is the best basketball player in the [...]
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Part 10 in a series on Economics 101
We have talked about the economic concept of comparative advantage and that ultimately we are better stewards of our gifts, strengths and resources when we hone in on producing things at which we are lower-cost providers.
You may never objectively be the best [...]
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Part 11 in a series on Economics 101
All this talk we have been doing on economic principles allows us to consider “the economy” in an entirely new light. We now know that the broad and somewhat nebulous notion of an economy is built upon individual trade [...]
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Part 12 in a series on Economics 101
Choice is full of uncertainty. Every time we make a choice we are making a bet over a particular set of outcomes which we can predict. Sometimes we predict rightly, sometimes we never see what is coming. Not only do we make decisions [...]
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Part 13 in a series on Economics 101
Stewardship forces us to think like economists. We must look past our hopes and good feelings when making decisions in the public and private spheres. We need to understand the results of our actions and how they may affect ourselves, others, and our [...]
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Part 14 in a series on Economics 101
At the Institute for Faith, Work & Economics, we think it is imperative for Christians to understand principles of economics if they are going to embrace the holistic interpretation of stewardship that the scripture proscribes. What we call, “Stewardship with a capital S.”
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