Economics

Selling Sodas: A Cure for Human Bondage

A man holds an XS Energy Drink, which the author was selling, in Ukraine. Photo by David Vanderveen

Intending it as a compliment, a friend described my work in in Kiev last weekend as selling sodas in Ukraine. 

Hes right. I was in the embattled city to represent a company I helped co-found and our Southern California energy drink brand in meetings with more than 10,000 Ukrainian independent business owners. 

It was as simple as that and also so much more. 

Like Bono, I believe free enterprise is a cure for all sorts of poverty  economic, political, and spiritual.

Study: Protestant Work Ethic Isn't Just Protestant Anymore

Work ethic graphic created via wordle.net. Via RNS.

America’s vaunted Protestant work ethic is getting a makeover: Now it might be more of an atheist work ethic.

A new study has found an inverse relationship between the religiosity of a state’s population and its “productive entrepreneurship.” That’s professor-speak for “entrepreneurial investment responsible for real economic growth.”

In other words, the less religious a state’s population, the more likely it is to have a healthy economy.

The study, titled “Religion: Productive or Unproductive?” by economists Travis Wiseman of Mississippi State University and Andrew Young of West Virginia University, was published in the March edition of the Journal of Institutional Economics.

In the study, Wiseman and Young find that the “measure of total Christian adherents is robustly and positively correlated with states’ unproductive entrepreneurship scores” in a given state.

Pope Francis: An Imitation of Christ

Pope Francis greets the crowd in St. Peter’s Square at the Vatican. Photo: Paul Haring/Catholic News Service. Via RNS.

Pope Francis is TIME's Person of the Year. But that is only because Jesus is his "Person of the Day" — every day. 

Praises of the pope are flowing around the world, commentary on the pontiff leads all the news shows, and even late night television comedians are paying humorous homage. But a few of the journalists covering the pope are getting it right: Francis is just doing his job. The pope is meant to be a follower of Christ — the Vicar of Christ.

Isn’t it extraordinary how simply following Jesus can attract so much attention when you are the pope? Every day, millions of other faithful followers of Christ do the same thing. They often don’t attract attention, but they keep the world together.

Study: Too Much Religion Can Harm Economy

Business Bible, Siarhei Tolak / Shutterstock.com

Business Bible, Siarhei Tolak / Shutterstock.com

Too much religion can harm a society’s economy by undermining the drive for financial success, according to a new study in the journal Social Psychological and Personality Science.

The study of almost 190,000 people from 11 religiously diverse cultures is raising eyebrows among some of England’s religious leaders for suggesting Judaism and Christianity have anti-wealth norms.

David Brooks, Producing People, and Saving the World

Wall Street sign outside New York Stock Exchange, Stuart Monk / Shutterstock.com

Wall Street sign outside New York Stock Exchange, Stuart Monk / Shutterstock.com

New York Times op-ed columnist, David Brooks, responded, this week, to an intriguing article in the Washington Post about Jason Trigg, a recent MIT graduate, who chose a career on Wall Street as a way to redistribute wealth. 

Trigg’s plan is simple. Make lots of money. Live simply. Give lots of money. It’s not far from John Wesley’s advice of, “Earn all you can. Give all you can. Save all you can.”  Actually, it’s almost identical.

Brooks perceptively sees the dangers and pitfalls in the road ahead. Most specifically, wealth and the surrounding environment can have a corrosive effect, no matter good our intentions. Brooks writes:

…the brain is a malleable organ. Every time you do an activity, or have a thought, you are changing a piece of yourself into something slightly different than it was before. Every hour you spend with others, you become more like the people around you.

Gradually, you become a different person. If there is a large gap between your daily conduct and your core commitment, you will become more like your daily activities and less attached to your original commitment.

But, while I echo Brooks concern, I disagree with his ultimate conclusion. He goes on to argue that we should pursue careers that elicit passion (seeming to indicate that hedge funds couldn’t be a passion for some people) and that if we truly care about children in Africa, it’s best to go there – not Wall Street.

Just the Facts Ma’am: Economic Analysis from the Congressional Research Service

Just the Facts signage, Andy Dean Photography / Shutterstock.com

Just the Facts signage, Andy Dean Photography / Shutterstock.com

When we listen to political debates about which public policies will strengthen the economy, it is easy to get lost in a statistical maze. Each side presents economic data in a way that supports their own theory of the case.

The Congressional Research Service (CRS) is a branch of the Library of Congress that can help us make our own assessments regarding public policy. According to the CRS website, its purpose is to provide “authoritative, confidential, objective and nonpartisan” analyses to members of Congress. 

The relationship between tax rates and the economy is an issue in the current campaign. Thinking about this issue, the CRS looks at empirical data that may or may not confirm theoretical models or ideological assumptions. Thus, like the early TV detective Joe Friday, they want “just the facts ma’am,” and then they try to reach conclusion from these facts.

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