The perils of ignoring the relationship between family stability and economics

April 19, 2013

Categories: Public Policy

Is the health of the family related to the health of the economy? John Hood, President of the John Locke Foundation, gives some examples of why the answer is "Yes" in his new daily journal column: In my latest column for Business North Carolina magazine, I argue that policymakers who seek to make North Carolina’s economy more competitive can’t afford to ignore the seemingly unrelated issue of family stability. “Economic and social policy often follow separate tracks,” I write. “But when it comes to the health of the family, the tracks converge. While people can continue to disagree about the religious or moral foundations of family life, there is simply no room for debate about the larger consequences of family stability. Higher rates of divorce and out-of-wedlock births raise the cost of government and, thus, act as a drag on economic growth.” Strong families are the building blocks of strong communities, and thus strong economies. Their economic role as...

Bringing together donors to foster liberty

April 16, 2013

Categories: Public Policy

Our new Grantee Profile focuses on the Philanthropy Roundtable, a nonprofit based out of Washington, D.C., that seeks to foster excellence in the world of grant making: In listing societal institutions that are a force against big government, strong marriages, strong families, and strong churches immediately come to mind. But is philanthropy — the generous, voluntary donations to worthy causes — also an indispensible support of freedom? The Philanthropy Roundtable — a nonprofit based out of Washington, D.C., that seeks to foster excellence in the world of grant making — is proof that the answer is “Yes.” “Philanthropy is a huge bulwark of a free and independent civil society,” said Adam Meyerson, who has served as the Philanthropy Roundtable’s president since 2001. “It helps to prevent individuals from becoming too reliant on government. It’s particularly important at this time in history, when the future of independent civil society is at stake.” ...

Free-market philanthropy paved the way for Margaret Thatcher

April 11, 2013

Grant-making efforts by Sir Antony Fisher in Great Britain paved the way for Margaret Thatcher's pro-free market reforms, according to Jacqueline Pfeffer Merrill at Philanthropy Daily. She writes: Many tributes have been paid to Baroness Thatcher’s intelligence, fortitude, and statesmanship. And, while these encomia are thoroughly deserved, her successes were not hers alone. Thatcher’s success in changing Britain were in part due to changes in public opinion that preceded her election and may be credited, in part, to Sir Antony Fisher, the remarkable philanthropist who set about to change Britain by changing the views of those we would today call opinion-leaders. Fisher did not set out to be a philanthropist. Serving in the Royal Air Force during World War II, he became a firm opponent of totalitarianism. Persuaded by economist F. A. Hayek’s argument that British socialism tended to totalitarianism, Fisher visited Hayek to ask for advice about how best to check British...

Obama budget: 20% increase in the so-called ‘charity tax’

April 10, 2013

Writing in Forbes, the Manhattan Institute's Howard Husock raises concerns about a component of President Obama's proposed budget that would narrow tax deductions for charitable giving: President Obama’s long-awaited budget proposal, to be released today, does not come right out and say that  intends to reduce contributions to charity—but that is almost certainly what would happen were it to become law. Here’s why. The White House has effectively doubled down on a tax change it has been pushing for four years that would limit the value of the charitable tax deduction. The Administration has, since 2009, pushed unsuccessfully to allow only 28 cents on a dollar donated to charity to be deducted—even though the top tax rate for the wealthy donors who make most use of the deduction has been 35 percent. In the budget released today, the President again proposes to cap the charitable deduction at 28 percent—despite the fact that the top rate on the highest earners has...

Pope Lecture: Chicago economist blasts crony capitalism

April 4, 2013

Crony capitalism is destroying the foundation of the free-market system in the United States. That was the message economist Luigi Zingales brought to students at N.C. State University yesterday when delivering the 2013 John W. Pope lecture. Zingales, the Robert C. McCormack Professor of Entrepreneurship and Finance at the Booth School of Business at the University of Chicago, highlighted the core arguments in his new book, A Capitalism for the People: Recapturing the Lost Genius of American Prosperity. The native of Italy said that American capitalism has benefited from the belief among the American people that wealth inequality is acceptable provided there is room for upward mobility. That core traditional American belief has eroded in recent years; many now see the government as working against the best interests of the people. [nggallery id=zingales] The end of entrepreneurship as we know it happens when the key aim of business isn’t to satisfy customers and make a profit...

Luiz Zingales speaks at N.C. State

March 12, 2013

On Wednesday, April 3, 2013, economist Luigi Zingales delivered the N.C. State John W. Pope lecture on his new book, Capitalism for the People: Recapturing the Lost Genius of American Prosperity.  Zingales is the Robert C. McCormack Professor of Entrepreneurship and Finance at the Booth School of Business at the University of Chicago. The event was free and open to the public and held at Nelson Hall Auditorium.   Book Summary Born in Italy, University of Chicago economist Luigi Zingales witnessed firsthand the consequences of high inflation and unemployment—paired with rampant nepotism and cronyism—on a country’s economy. This experience profoundly shaped his professional interests, and in 1988 he arrived in the United States, armed with a political passion and the belief that economists should not merely interpret the world, but should change it for the better. In A Capitalism for the People, Zingales makes a forceful, philosophical, and at times...

Pope lecture: ‘The seven principles of economic freedom’

March 11, 2013

This year's Pope Lecture at the Clemson Institute for the Study of Capitalism focused on the seven principles of economic freedom. Lawrence W. Reed, President of the Foundation for Economic Education, delivered the lecture. Click the video below to watch the speech. ...