Daily Economy Articles

Thursday, March 14, 2019
AIER’s Business Cycle Conditions Leading Indicators index held steady at 42 in February while the Roughly Coincident Indicators index and the Lagging Indicators index were also unchanged, at 92 and 75, respectively (see chart). Despite having the Leading Indicators index below 50 for a second...
Thursday, March 14, 2019
A clear-eyed comparison of the alternatives actually available to us reveal why all the world’s developed nations use some version of capitalism. The only people who advocate socialism are those who don’t know how it actually works.
Wednesday, March 13, 2019
If getting rid of the regulations would be of such unambiguous benefit to Arkansans, why doesn’t it happen swiftly?
Wednesday, March 13, 2019
The history of sovereign debt appears to be a history of default, repudiation, and limited debt enforcement. Why, then, do investors keep going back?
Tuesday, March 12, 2019
The Fed has a monopoly on the creation of base money, the fundamental asset underlying the banking and financial system. And over decades, with each instance of financial turbulence, the Fed has become less constrained in how, when, and why it creates base money.
Tuesday, March 12, 2019
AIER’s Everyday Price Index rose 0.4 percent in February after posting four consecutive declines between October 2018 and January 2019. The Everyday Price Index measures price changes people see in everyday purchases such as groceries, restaurant meals, gasoline, and utilities. It excludes prices...
Tuesday, March 12, 2019
Just because something is possible doesn’t mean it’s likely, though — or worth more than cursory attention.
Tuesday, March 12, 2019
It's a myth that the rich paid 90% or even 70%. Let's take a closer look.
Tuesday, March 12, 2019
Let us celebrate honesty in politics above all else, even when it preaches something brazenly wrong, such as is the case with the far left and the far right today. Sincerity and forthright telling of truth in the long run skew in the direction of freedom. It’s the Gnostics among us that confuse and...
Monday, March 11, 2019
Retail sales growth bounced back in January, but economic data continue to be mixed, suggesting a heightened degree of caution for the economic outlook.  
Monday, March 11, 2019
Given the way that they skewed their poll results toward the GND with biased and loaded questioning, it’s reasonable to ask whether their research output crossed the ethical line separating scholarship from politically motivated advocacy.
Monday, March 11, 2019
Elizabeth Warren knows the real problem is that watching and controlling people’s lives is a natural monopoly, and should be the exclusive realm of government.
Monday, March 11, 2019
We can admire the engineering prowess that enabled NASA to land men on the moon and return them safely to earth. But even if politicians (contrary to fact) were apolitical stewards of the public welfare, governing society is not an engineering task. It follows that NASA’s remarkable achievement...
Monday, March 11, 2019
Bankers have been steadily introducing cashless banks over the last few years in response to falling customer demand for cash. With fewer people wanting to withdraw or deposit cash, the cost of offering these services gets harder to justify to shareholders.
Sunday, March 10, 2019
For centuries, the whole point of commercial capitalism has been missed. It is not about material greed much less exploitation and exclusion. Its fundamental theme is love of this special sort. That is its driving energy and ethos. This love permeates every aspect of its operations. It requires...
Friday, March 8, 2019
U.S. nonfarm payrolls added just 20,000 jobs in February, the smallest monthly gain since September 2017. Combined with other recent disappointing economic data, the report raises concerns about the durability of the economic expansion.
Friday, March 8, 2019
Still, there’s absolutely no need for the government to pretend it has the duty to provide this service. As a matter of fact, it is the very roadblocks imposed by local governments that make it difficult for companies to have a greater presence in remote areas.
Friday, March 8, 2019
Economist John Miller of Wheaton College wrote a sharp critique this week of my work on the job guarantee. I was pleased to see it. In nearly five months, Miller is the first economist on the left to respond on the basis of economics rather than retreating to blanket declarations that job-guarantee...
Friday, March 8, 2019
We ought to attack the true root cause of inequality — that is, rent-seeking. This is far more productive than redistributing the rents that the rent-seekers captured.
Thursday, March 7, 2019
It’s too little, too late, but Facebook has now promised to adapt. Open and public? Forget it. Smaller groups, closed, and private is the new way.
Thursday, March 7, 2019
Despite their recommendations, technology offers a sometimes more effective — and affordable — alternative to putting patients face-to-face with psychologists. All that the government agency has to do to truly help patients is to get out of the way.
Thursday, March 7, 2019
National economic statistics in a global economy are already suspect, even more so when we are talking about products that depend for their very existence on international supply chains. At this point in history, where trading relationships cover every nation and production structures are...
Wednesday, March 6, 2019
Translating what is completely mindless, the federal government is ultimately persecuting Huawei for being successful.
Wednesday, March 6, 2019
We take for granted the miraculous ability technology has now given us to travel to and communicate with virtually any place on the planet in little or no time. Yet we allow governments and their bureaucracies to use their coercive powers to constrain us from having the full freedom to create,...
Tuesday, March 5, 2019
It’s 2019, nearly five years after the Flint, Michigan, water crisis became news nationwide. But the city is still struggling to get access to clean water.
Tuesday, March 5, 2019
The ISM’s nonmanufacturing index rose to 59.7 in February. The increase was led by strong performances by the activity index and the new orders index. The report suggests continued expansion for the economy last month.
Tuesday, March 5, 2019
Beware, my friends. Socialists may start off believing that they are for the well being of all. But once they turn their attention to matters of control, they eventually discover that controlling demographics is essential to making all their dreams come true. That’s when they come after a...
Tuesday, March 5, 2019
Neither consumers of expert opinion nor experts themselves will ever fully transcend their biases, nor should they. But when experts disagree, it behooves us to avoid as best we can hunkering down into black-and-white thinking that conveniently accommodates those preexisting biases.
Tuesday, March 5, 2019
Just as we come up with ever-newer ways to combine materials into new goods and services, people are constantly coming up with new ways to combine sounds into music.
Tuesday, March 5, 2019
The Great Recession of the 2000s shaped a generation of macro- and monetary economists. We can debate the details. But three things warrant widespread agreement.
Monday, March 4, 2019
You are not in it for the money? That might be the source of the problem. 
Monday, March 4, 2019
This great variety of influential books testifies to the richness of the libertarian scholarly tradition. It’s filled with remarkable works of scholarship that are not (yet) as widely known and read as they deserve to be.
Monday, March 4, 2019
Sadly, the FDA has frozen the marketplace by saying that existing products could remain on the market pending approval (they still have not clarified how to get approval) but that no new products would be allowed to enter the market after 2016 and no changes could be made to existing products.
Sunday, March 3, 2019
China no longer wants your leftover pizza box. Nor your empty 2-liter bottle of Mountain Dew. They are being burned in the US instead. 
Friday, March 1, 2019
By the time the talent reaches our eyes and ears, the hard work is done. We see only the finished product. In our attempt to discern the difference between their level of awesome and ourselves, we reach for the easiest answer: the person must have been born this way. It just comes naturally.
Friday, March 1, 2019
The Manufacturing Purchasing Managers’ Index from the Institute for Supply Management registered a 54.2 percent reading in February. Despite a small decline, the index remains above neutral—a positive sign for the manufacturing sector.
Thursday, February 28, 2019
Real gross domestic product rose at a 2.6 percent annualized rate in the fourth quarter, putting the calendar year growth at 2.9 percent, the fastest pace since 2015. Consumer prices rose 1.5 percent in the quarter, putting the calendar year increase at 2.0 percent, the fastest since 2011, and the...
Thursday, February 28, 2019
In the discussion of the nation’s problem with child care costs, a crucial factor has gone mostly unmentioned. This is one of the most regulated industries. These regulations are driving up costs. Adding more government control of the industry risks making a bad situation even worse.
Wednesday, February 27, 2019
Every new technology comes with an awkward stage of adoption, during which time people get manipulated and break every kind of rule of propriety until they figure out a better way.
Wednesday, February 27, 2019
A record 7 million Americans are now behind on their auto-loan payments. But as auto loans have surged by nearly 35 percent since 2008, one might wonder if the government has a hand in this new crisis.

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