Friday, March 30, 2018

Austrian Economics as Common Grace

I was blessed to present the Lou Church Memorial Lecture in Economics and Religion at this year's Austrian Economics Research Conference. My lecture was entitled "Austrian Economics as Common Grace." My goal in the lecture was to demonstrate how Austrian economics is one of the blessings God gave to mankind to assist in human flourishing. As such, the Mengerian economic tradition is a manifestation of God’s common grace. Because Austrian, causal-realist economics is a social science that is derived from realistic human action as the cause of all economic phenomena--a foundation that is congruent with the Christian view of man--it can be drawn upon with confidence by those who desire to promote human flourishing. There is no ultimate conflict between Christian doctrine and Austrian economic analysis. You can watch the whole lecture below:

Friday, March 9, 2018

Credible Committments in Columbus

Grove City College Assistant Professor of Economics Caleb Fuller tells the story of J. Irwin Miller, then-CEO of Cummins Engine Company who in 1954 launched the Cummins Foundation which transformed the architecture of Columbus, Indiana. Fuller writes that in 1957, the Foundation

began paying the architectural fees of world-renowned architects should they design a public building in the small town. The result was that between the mid-1950s and the mid-1980s, the town averaged two new architectural masterpieces annually. Today, the town is home to more than 90 buildings and parks designed by internationally renowned architects and attracts some 50,000 tourists annually.
Fuller explains that potential benefits of entrepreneurial commitment.