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Economics

Values & Socialism?

| July 29, 2014 | Economics

Values & Socialism?
The longer people live under socialism, the more their value system erodes. So concludes a recent study of 259 Germans randomly picked to play a simple dice game. Researchers from the University of Munich and Duke University asked participants to throw a die 40 times...
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Michael Hendrix
Michael Hendrix is the director of state and local policy at the Manhattan Institute, where he manages scholars, conducts research, and leads outreach.

Sunk Costs and the Cultural Mandate

| July 21, 2014 | Economics

Sunk Costs and the Cultural Mandate
When we last discussed the topic of “sunk costs,” you might have thought that this is too good to be true. We said that stewardship requires that we understand the economic concept of sunk costs. When you think about commitments you have that are draining your...
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Jacqueline Isaacs
Jacqueline Isaacs is the Director of Strategy for Bellwether Communications, where she crafts content strategies for thought leaders.

Beyond Envy: The Conservative Response to Inequality

| July 17, 2014 | Economics

Beyond Envy: The Conservative Response to Inequality
“Thou shalt not covet…” You’re probably familiar with this commandment. The basic idea is that we are not to greedily wish for the good things of another. A different word for covetousness is envy—a term that is front and center in the conservative response to...
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Tyler Castle
Tyler Castle is the director of AEI's Initiative on Faith & Public Life. He is a graduate of Westmont College and a former John Jay Institute Fellow.

No Really, There Is No Free Lunch

| July 15, 2014 | Economics

No Really, There Is No Free Lunch
In our previous discussion about sunk costs, we said that we ought to consider the sunk costs compared to the future value and the opportunity costs. This process is essential to helping us be good stewards of our resources. While we discussed future value a bit, we...
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Jacqueline Isaacs
Jacqueline Isaacs is the Director of Strategy for Bellwether Communications, where she crafts content strategies for thought leaders.