Daily economy news from the American Institute for Economic Research: data, stories, research, and articles touching on economics, politics, culture, education, policy, opinion, technology, markets, healthcare, regulation, trends, and much more.
The FTC should answer its Call of Duty to Gamers
“There are so many holes in the FTC and Sony’s opposition to the Microsoft-Activision merger that an analogy to Swiss cheese is in order.” ~ Gary M. Galles
What’s Next for the Fed?
“A wide range of outcomes are still possible for 2023, ranging from stagflation to a ‘soft landing.'” ~ Thomas L. Hogan
Economic Growth Makes Graceland Less Impressive
“The real ‘capitalist achievement,’ however, isn’t Graceland. It’s the fact that compared to the stuff of the average person’s day-to-day life in 2023, Graceland just isn’t that impressive.” ~ Art Carden
All Housing is Still Affordable Housing: “Seen and Unseen” Edition
“The unseen cause of gentrification is the knee-jerk NIMBYism of affluent leftist neighborhood associations. And that causes the elimination of almost all affordable housing in the city, quickly.” ~ Michael Munger
The Greedflation Myth
“Politicians on the left would like us to believe inflation is caused by greedy corporations. And some academics are all too happy to provide them with theoretical cover.” ~ William J. Luther
Three Proposals for Price Stability
“As a ‘dark horse’ candidate, Ramaswamy has a greater burden of proof before the electorate. He needs to prove his policy proposals are a cut above his rivals’.” ~ Alexander W. Salter
America’s Long Depression
“The US economy may continue to grow or shrink a few percent from year to year, but it will remain mired in a deep depression compared to what it could have achieved.” ~ Robert E. Wright
Without Economic Freedom, None of the Others Matter
“Forbidding entrepreneurial ventures that have not been granted prior approval and design review by unelected officials is, practically speaking, state ownership of the means of production.” ~ Paul Schwennesen
How Congress Should Reform the Fed
“Congress should narrow the Fed’s regulatory concerns to maintaining adequate bank capital. It should also consider abolishing the discount window entirely.” ~ Alexander William Salter
Can the Fed Continue to Fight Inflation without Risking a Financial Crisis?
“In principle, the Fed has the ability to provide liquidity to the banking system while simultaneously reducing the incentives banks have to make loans.” ~ Bryan Cutsinger
Taylor Swift, Turn Your Wrath to Government!
“The entity that Taylor Swift and her legion of fans are turning to save themselves from a predatory monopoly that engages in shifty pricing is itself a predatory monopoly that engages in shifty pricing.” ~ Anthony Gill
More Self-Interested Union Altruism
“Whenever someone claims an altruistic reason to support a policy, but it clearly advances their narrow self-interest, the latter effect can explain such support, regardless of whether it helps or even hurts the supposed beneficiaries.” ~ Gary M. Galles
Modern Mercantilism: A Case for Free Trade
“Global free trade helps both consumers, via lower quality-adjusted prices, and taxpayers. Walking into a Walmart to buy goods I want for dollars I earn at work does not leave me, or the nation, worse off, even if those goods originated in another country. ” ~ Stefan Bartl
Emotions and Climate Change
“Conversations on campus are increasingly radical and will inevitably bleed into the mainstream dialogue. Be ready.” ~ Paul Schwennesen
You Use the Roads, Don’t You?
“Having resources taken from you against your will, and then accepting the return of some of those resources, in the form of a monopoly road system, does not make you a free rider.” ~ Michael C. Munger
A Book to Help Young Americans Understand Economics: Economics in Action by Brian Balfour
“Countering the plague of economic falsehoods and disinformation that statists constantly spread is crucial to our liberty, and this book does so brilliantly.” ~ George Leef
Reduce, Reuse, and…Refuse?
“The last thing we want is to make our virtue signaling but inefficient recycling the modern equivalent of buying indulgences to atone for alleged environmental sins.” ~ Bruce Rottman
Stadium Subsidies Reveal Tensions in Democratic Priorities
“Despite being a well-known mirage, the promises of economic and job growth prove too attractive for local policymakers to resist. This tells us something about their priorities.” ~ Daniel J. Smith
The FTC should answer its Call of Duty to Gamers
“There are so many holes in the FTC and Sony’s opposition to the Microsoft-Activision merger that an analogy to Swiss cheese is in order.” ~ Gary M. Galles
What’s Next for the Fed?
“A wide range of outcomes are still possible for 2023, ranging from stagflation to a ‘soft landing.'” ~ Thomas L. Hogan
Economic Growth Makes Graceland Less Impressive
“The real ‘capitalist achievement,’ however, isn’t Graceland. It’s the fact that compared to the stuff of the average person’s day-to-day life in 2023, Graceland just isn’t that impressive.” ~ Art Carden
All Housing is Still Affordable Housing: “Seen and Unseen” Edition
“The unseen cause of gentrification is the knee-jerk NIMBYism of affluent leftist neighborhood associations. And that causes the elimination of almost all affordable housing in the city, quickly.” ~ Michael Munger
The Greedflation Myth
“Politicians on the left would like us to believe inflation is caused by greedy corporations. And some academics are all too happy to provide them with theoretical cover.” ~ William J. Luther
Three Proposals for Price Stability
“As a ‘dark horse’ candidate, Ramaswamy has a greater burden of proof before the electorate. He needs to prove his policy proposals are a cut above his rivals’.” ~ Alexander W. Salter
America’s Long Depression
“The US economy may continue to grow or shrink a few percent from year to year, but it will remain mired in a deep depression compared to what it could have achieved.” ~ Robert E. Wright
Without Economic Freedom, None of the Others Matter
“Forbidding entrepreneurial ventures that have not been granted prior approval and design review by unelected officials is, practically speaking, state ownership of the means of production.” ~ Paul Schwennesen
How Congress Should Reform the Fed
“Congress should narrow the Fed’s regulatory concerns to maintaining adequate bank capital. It should also consider abolishing the discount window entirely.” ~ Alexander William Salter
Can the Fed Continue to Fight Inflation without Risking a Financial Crisis?
“In principle, the Fed has the ability to provide liquidity to the banking system while simultaneously reducing the incentives banks have to make loans.” ~ Bryan Cutsinger
Taylor Swift, Turn Your Wrath to Government!
“The entity that Taylor Swift and her legion of fans are turning to save themselves from a predatory monopoly that engages in shifty pricing is itself a predatory monopoly that engages in shifty pricing.” ~ Anthony Gill
More Self-Interested Union Altruism
“Whenever someone claims an altruistic reason to support a policy, but it clearly advances their narrow self-interest, the latter effect can explain such support, regardless of whether it helps or even hurts the supposed beneficiaries.” ~ Gary M. Galles
Modern Mercantilism: A Case for Free Trade
“Global free trade helps both consumers, via lower quality-adjusted prices, and taxpayers. Walking into a Walmart to buy goods I want for dollars I earn at work does not leave me, or the nation, worse off, even if those goods originated in another country. ” ~ Stefan Bartl
Emotions and Climate Change
“Conversations on campus are increasingly radical and will inevitably bleed into the mainstream dialogue. Be ready.” ~ Paul Schwennesen
You Use the Roads, Don’t You?
“Having resources taken from you against your will, and then accepting the return of some of those resources, in the form of a monopoly road system, does not make you a free rider.” ~ Michael C. Munger
A Book to Help Young Americans Understand Economics: Economics in Action by Brian Balfour
“Countering the plague of economic falsehoods and disinformation that statists constantly spread is crucial to our liberty, and this book does so brilliantly.” ~ George Leef
Reduce, Reuse, and…Refuse?
“The last thing we want is to make our virtue signaling but inefficient recycling the modern equivalent of buying indulgences to atone for alleged environmental sins.” ~ Bruce Rottman
Stadium Subsidies Reveal Tensions in Democratic Priorities
“Despite being a well-known mirage, the promises of economic and job growth prove too attractive for local policymakers to resist. This tells us something about their priorities.” ~ Daniel J. Smith
