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.

That’s None of Your Business, Actually

– September 20, 2021

“For what purposes may societies condone the use of violent force? The answer is many fewer than most people presently believe. Because most things are simply none of the government’s business.” ~ Joakim Book

Operation Go It Alone: Disenchanted Europeans May Build Their Own Army

– September 20, 2021

“The Afghanistan imbroglio provided Europe with a long overdue wake-up call. If European governments don’t like being treated dismissively by Washington, they need the capability and will to act independently.” ~ Doug Bandow

Why Totalitarians Promote Hate

– September 20, 2021

“As human cooperation decreases and hatred increases, you too, not just the people the mandates are directed against, will suffer. The oxygen of capitalism is cooperation. The oxygen of totalitarians is hatred for differences.” ~ Barry Brownstein

The Misuse of Knowledge in Society: Intervention Means Prices are Lying

– September 20, 2021

“Making prices less accurate and less reliable with well-intentioned but misguided controls compounds the problem. It leads to an even bigger pile of errors–a misuse of knowledge in society, in other words.” ~ Art Carden

Tax Increases Cannot Pay for the Democrats’ Reconciliation Bill

– September 19, 2021

“During the pandemic, Congress passed multiple trillion-dollar bills to help keep the economy afloat. With the economy recovering, America does not need another one.” ~ Travis Nix

Opportunity Costs and the Economic Impact Report: They Didn’t See That Coming

– September 19, 2021

“Good reporting helps people because they intuitively understand cost overruns are bad. What would also help people are more council members and commissioners who know to ask about what is not seen: opportunity costs.” ~ Jon Sanders

The Inevitable Failure of Socialism

– September 18, 2021

“As Mises summarized the fate of a fully socialized economy, ‘As soon as one gives up the conception of a freely established monetary price for goods of a higher order, rational production becomes completely impossible.'” ~ Donald J. Boudreaux

Treason and Its Misprision

– September 18, 2021

“All Americans had better tell POTUS or a judge right quick that they may have witnessed treason during the Afghanistan debacle or we may all need amnesty for misprision of treason!” ~ Robert E. Wright

The Logic of Civic Irresponsibility and the War on Terror

– September 18, 2021

“Perhaps Coyne and Hall’s book is a step in the social learning necessary to take a step back from policies that have made us poorer and less secure by educating our elites and the public.” ~ Todd Myers

Angry about Unspent K-12 Education Funds? Support ESAs.

– September 17, 2021

“If you’re angry about these ludicrous spending bills, the time to demand another option is now, and it all starts with schools. We’re in a mess, but ESAs could help guide us out.” ~ Garion Frankel

Consumer Sentiment Improved Slightly but Remained Low in Early September

– September 17, 2021

“Consumer sentiment remained weak in early September as consumers react to the one-two punch of elevated numbers of new Covid cases and rising prices for many consumer goods. The survey results suggest economic conditions in the second half of 2021 could be disappointing.” – Robert Hughes

The Tragedy of 9/11 and the Afghan Debacle

– September 17, 2021

“Be prepared. Liberty will remain something to discount and whittle away in the name of ‘keeping America safe.’ And the high financial cost of playing global policeman will not diminish any time in the foreseeable future.” ~ Richard M. Ebeling

And Secure the Blessings of Liberty

– September 17, 2021

“The government should protect Americans’ lives, liberty and property from foes foreign and domestic, and no more.” ~ Robert E. Wright

Constituting Constitutional Economics

– September 17, 2021

“As Smith himself put it: ‘Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice.'” ~ Alexander William Salter

Spendthrift Uncle Sam No Longer Can Afford to Run the World

– September 16, 2021

“Washington should stop trying to run the world and concentrate on defending Americans. The U.S. would be safer- and save money in the process.” ~ Doug Bandow

Born Unequal: Pondering the Natural Lottery

– September 16, 2021

“Maybe I’m just a dreamer. But I think nonviolence and compassion can motivate a million acts of kindness towards those born with less.” ~ Max Borders

Core Retail Sales Post a Strong Gain in August

– September 16, 2021

“Retail sales rose in August with core retail sales particularly strong. Resilient consumer spending is a positive for the outlook but Covid is sustaining an elevated level of uncertainty.” – Robert Hughes

Weekly Initial Claims for Unemployment Benefits Rose but the Four-Week Average Fell

– September 16, 2021

“Weekly initial claims for unemployment benefits rose in the latest week but the trend remains lower. A tight labor market and a record number of open jobs should support the downward trend, but waves of new Covid cases will continue to boost uncertainty for the economic outlook.” – Robert Hughes