Pillar: Business & Economics

Business & Economics

The fifth pillar, business and economics, is built upon concern for the common good and the ways in which the economic order contributes to—or detracts from—human flourishing. Public Discourse examines the ways in which the market is shaped by—and gives shape to—our understanding of the human person, the role of the family, the rule of law, and education and culture.

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TABOR on the Line . . . Again!

Colorado's Taxpayer's Bill of Rights (TABOR) has the reputation of being America's best and most effective fiscal limit. However, it is under attack once again. On Election Day, Colorado residents will vote on Amendment 59 which would permanently nullify TABOR's revenue limit by requiring that all surplus revenues be spent on schools. This is an important election for fiscal conservatives. If Amendment 59 wins, TABOR will likely be reduced to a historical footnote. A defeat of Amendment 59, however, would have implications that will be felt well beyond Colorado. Indeed, a revitalized TABOR could give fiscal conservatives something that they have lacked--an effective model that can be used in other states.

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Does Increased Welfare Spending or Pro-Life Legislation Reduce Abortion?

Catholics in Alliance recently released a study questioning the effectiveness of pro-life legislation and arguing that greater spending on welfare programs was a better strategy for reducing abortion. Unfortunately, their study is seriously flawed. Rigorous analysis of their own data indicates that increased welfare spending only has little to no impact on abortion. Public funding restrictions and informed-consent laws, however, are effective at reducing abortion rates.

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Thinking About Greed

Beginning in the time of Aristotle and leading up to the current financial crisis, greed and trust have played important yet shifting roles in the structure of the world's economies. One of the reasons we face the current crisis is our failure to deal with either properly.