The Impossibility of Negative Rates

The economics discussion would be greatly enhanced if it were better understood that underlying all spending, selling, saving, lending, borrowing, and investing is an exchange of products, services or labor. Real things are always and everywhere being …

John Tamny – December 5, 2019

Alexander Hamilton, the Other Tariff Man Who Created a Mess

One of the many unsettling features of Donald Trump is his deep-seated antipathy to the time-honored doctrine of free trade. Even as early as 2016, Trump devoted a substantial portion of his Republican Convention speech calling for the adoption of prot …

– December 5, 2019

Five Things No One Asked About the Impeachment — but Should Have

The impeachment proceedings against President Trump have fueled all manner of conjecture regarding the proper discharge of foreign policy, hidden motives behind both Trump’s phone call and the ensuing investigation, and everything from the dead-cat bou …

– December 5, 2019

A Cautious Retrospective on Bitcoin

Bitcoin could still go to the moon. But there are plenty of reasons to believe the opposite too. The most likely immediate future is that Bitcoin will continue brilliantly to service a special type of need.

– December 4, 2019
ISM services sector

November Services-Sector Survey Perpetuates Doubts

The nonmanufacturing sector expanded in November, but the mixed results and near-neutral level of the composite index perpetuates doubts about the strength of the economy.

– December 4, 2019

Ending Internal Passports Was a Victory of Liberalism. It is Slipping Away

We should never take the victories of previous generations of liberals for granted. Free movement is one of those.

– December 4, 2019

Socialism and the Green New Deal are Economically Impossible

The marginal decisions and calculations necessary for rational economy do not go away even under a “moral equivalent to war” to defeat global warming.

– December 4, 2019

Mary, Joseph, and the Real ID

Think about this story as you contemplate the surveillance, the identity politics, the impending internal passports, and the demographic controls of modern statism. These are tools of oppression.

– December 3, 2019

How Economics Can Ruin Christmas, in a Good Way

Some time ago, I resigned myself to the fact that economists are the wet blankets of the world. We can ruin almost any proposal and almost any situation with just a couple of analytical tools and the words “unintended consequences.” Rent control? It ca …

– December 3, 2019

Hipster Antitrust Is Overdue for a Backlash

Democrats can reject neo-Brandeisian antitrust along with the other pillars of left-populism, or seek a victory that in many ways will prolong rather than end the Trump era. 

– December 3, 2019

AIER and Giving Tuesday

As you have noticed, the American Institute for Economic Research has enjoyed a wonderfully productive year. There are events every few days, new books every couple of weeks, one hundred or more substantial articles per month, a constant stream of visi …

– December 3, 2019
Nonresidential construction

Nonresidential Construction Weighed Down by Private Sector

Nonresidential construction activity continues at a high level though the broader trend is essentially flat.

– December 2, 2019
ISM PMI

Purchasing Managers’ Indexes Signal Continued Weakness in Manufacturing

The ISM’s manufacturing PMI posted a fourth consecutive month below neutral in November. Declining trade amid slowing global growth and erratic U.S. policies are keeping risks elevated.

– December 2, 2019

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