Daily news from the American Institute for Economic Research: stories, research, and articles touching on economics, politics, culture, education, policy, opinion, technology, markets, healthcare, regulation, trends, and much more.

AIER is cuts through the noise of partisan shouting matches with objective, scientific research and principles that lead to sustained economic prosperity and human flourishing. Striving toward a world where all people enjoy the benefits of a truly free society.

Which Diseases Are on the Rise As We Fight COVID-19?

– August 5, 2020

“Proponents of COVID-19 prevention measures are perfectly willing to discuss the lives that are saved at the expense of economic progress. But when will there be widespread recognition that these very same measures could cause millions of people around the world to contract––and die from––other preventable diseases? Are those lives somehow exempt from our tradeoff tally?” ~ Fiona Harrigan


Jerome Powell

Powell Must Choose: Fiscal Restraint or Runaway Inflation

– August 5, 2020

“Jerome Powell and those steering fiscal policy choose from two paths: fiscal responsibility or monetary debasement. If he is unable to maintain stable expectations of low inflation, the latter path awaits.” ~ James L. Caton


dollar construction

Who Bears the Burden of Dollars’ Falling Purchasing Power?

– August 4, 2020

“Inflation is not a one-trick pony, with an easily predictable outcome. Rather, it does several things at the same time. Looking at claims like the eradication of a dollar’s purchasing power is misleading: it is not the case that inflation has ripped off savers by eradicating 97% of their savings’ worth.” ~ Joakim Book


Madness in Melbourne

– August 4, 2020

“I cry for the once-great city of Melbourne this day. May there be justice. And may its future political leadership be granted some modicum of decency and wisdom.” ~ Jeffrey Tucker


federal reserve in the fall

The Fiscal Fed

– August 4, 2020

“Allowing the Fed to become a catch-all institution undermines its independence and ability to conduct monetary policy. If every job is the Fed’s job, it won’t do any of them well.” ~ Nicolás Cachanosky


planner

The Use of Knowledge in a Pandemic

– August 4, 2020

“As Hayek reminded us, ‘We need decentralization because only thus can we ensure that the knowledge of the particular circumstances of time and place will be promptly used’ (p. 524). We’ve been here before. You are more of an expert than you might think.” ~ Jonathan Newman & Anthony Gill


Charles James Fox and the Consistent Defense of Liberty

– August 4, 2020

On matters concerning modern political parties and the politicians they produce, my natural inclination is to ridicule and disparage both. When pressed to declare an affiliation though, I usually answer “Foxite Whig.” The reference is admittedly obscur …


snorkel-mask-goggles-cape

Fauci Pushes Goggles. Are Snorkels Next?

– August 3, 2020

“It was my pleasure to join Liz Wheeler’s show ‘Tipping Point’ to discuss the devastating GDP figures and the broader economic contraction facing America as we continue to follow the flawed strategy of government imposed lockdowns. I also demonstrated a possible next phase of clothing mandate.” Phil Magness


Positive Signs for the Manufacturing Sector but Employment Remains Weak

– August 3, 2020

The ISM Manufacturing survey showed another gain in July as orders and production expanded but the survey suggests labor dynamics remain weak.


Paul Krugman’s Ad Hominem Defense of Central Banking

– August 3, 2020

“Paul Krugman may hide behind rude and crude ad hominem attacks on those who do not share his views, but that does not prove his case. It only serves to harm his own reputation and legitimacy in the arena of public policy debate.” ~ Richard M. Ebeling


angry businessman

My Covid Cri de Cœur

– August 3, 2020

“I cannot explain why the public reacts rationally – that is, without much concern – to news of famous young people testing positive for COVID but, to other news about COVID, reacts irrationally. This discrepancy itself only causes me to worry further about our ability, or willingness, to put COVID in proper perspective in order to restore some semblance of civilized modern life.” ~ Donald J. Boudreaux


fireworks

William Harold Hutt: A Birthday Appreciation

– August 3, 2020

“Hutt was a complex thinker in a difficult time who worked to split the difference between the best world we can imagine and the best world that is feasible subject to the constraints we face in the world we actually inhabit. As Ludwig von Mises put it, “Professor Hutt’s rank among the outstanding economists of our age is not contested by any competent critic.” May his contributions endure in our age and in ages to come.” ~ Art Carden