Daily Economy

Tuesday, June 12, 2018
AIER’s Everyday Price Index jumped 0.9 percent in May, above the 0.4 percent gain in the Consumer Price Index. The EPI measures price changes people see in everyday purchases such as groceries, restaurant meals, gasoline, and utilities. The EPI is not seasonally adjusted, so we compare it with the...
Tuesday, June 12, 2018
Wharton was the mind that gave the most rich and complex expression of the glory and failings of this fascinating time and place. She clearly loved freedom, and despised impositions on the human personality, which is why she was one of the few literary giants of her time to see the power of Aldous...
Monday, June 11, 2018
Minimum-wage legislation is the story of unions and politicians allying against unskilled, non-unionized, and poor workers and families and calling it "social justice."
Monday, June 11, 2018
Money is a good that has interesting scaling properties. The more people there are within a given monetary network, the more valuable it is for each person to be a part of that monetary network.
Sunday, June 10, 2018
In the Cotswold Hills north of Bath, England, large manor houses were made from the local oolitic limestone. Cotswold Cottage at AIER in Great Barrington, Massachusetts, built from 1929 to 1931, was intended to be a copy of that Cotswold style, which is why our revered stone house has sometimes...
Sunday, June 10, 2018
There’s something about the physical experience of a spot like Cotswold Cottage at the American Institute for Economic Research that connects you to the deep past, in all its tribulations and struggle for progress, but also points to a brilliant future. Sometimes we need experiences like this to...
Friday, June 8, 2018
The beauty of the art example of distributed ownership is that it gets the creative juices flowing. How many other applications of blockchain are out there waiting? Blockchain is like oil, like the Internet, like fire; that is, not a single instance with one use case but a resource with potentially...
Friday, June 8, 2018
Telling an entrepreneur with a great idea in a blossoming industry to sit on their hands for a couple of years is a tough sell, but there are of reasons why sitting down and taking a deep breath today might lead to greater success down the road.
Friday, June 8, 2018
A new NBER working paper quantifies the relationship between post-WWI policy uncertainty in Europe and hyperinflation.
Thursday, June 7, 2018
When Michael Bennett arrived in Venezuela, his biggest surprise was how much control the government had over people's minds. The Chavista propaganda has been effective at convincing many people that the state is always a benefactor.
Thursday, June 7, 2018
Yes, the court decided the right way, but narrowly and not in a way that should calm the worries of anyone who believes in basic freedoms.
Thursday, June 7, 2018
The third issue of the AIER Sound Money Project Working Paper Series is available online. AIER is currently ranked 76th on SSRN's Top 1,600 Entrepreneurship Research & Policy Network Organizations.
Wednesday, June 6, 2018
When left to the commons, road space gets misused and wasted. Underpriced street parking has made road space scarce.
Wednesday, June 6, 2018
Bitcoin and fiat money are not cousins. They are on entirely different branches of the family tree.
Tuesday, June 5, 2018
We do not need human beings to be “angels” to achieve progress. We need institutions that are robust to “demons.” 
Tuesday, June 5, 2018
Get ready, crypto community, because the czars are coming for you! On Monday, June 4, the Securities and Exchange Commission appointed Valerie Szczepanik to a new position: “associate director of the Division of Corporation Finance and senior advisor for digital assets and innovation,” known...
Monday, June 4, 2018
We’ve got a genuine problem, a new crop of world leaders who are willing to sacrifice economic rationality, international cooperation, and world peace to feed their nationalistic political ambitions via the brute force of protectionism. Trump is leading the way.
Monday, June 4, 2018
In so many areas, Obama seemed like an intelligent and thoughtful person, certainly someone who wanted to achieve some good. But even from his earliest extended interviews – however erudite and insightful – it was clear that he had a gigantic blind spot about fundamental economic topics. Most...
Sunday, June 3, 2018
Politicians often turn to minimum-wage hikes when pressed by constituents to "do something" about poverty. They turn a blind eye to the fact recipients tend not to be from poor households, as British Columbia's case shows.
Friday, June 1, 2018
Payrolls in the United States rose by 223,000 in May, solidly beating an expected rise of 188,000. Gains in the labor market have accelerated recently, reducing fears of a pending slowdown, yet the increases remain modest by historical comparison, suggesting that the slower and somewhat steadier...

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