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.
Is the Debt Ceiling Lunacy?
“Unconstrained politicians are likely to authorize more borrowing than they should. The debt ceiling might provide a useful—if somewhat limited—constraint against excessive borrowing.” ~ William J. Luther
Book Review: How the “Chip War” Vindicates Economics
” Miller’s book exemplifies good, evidence-driven economic research. By educating the reader on the essential developments of the semiconductor industry, he inadvertently vindicates multiple economic thinkers and principles.” ~ Robertas Bakula
Be Grateful that First Responders and Teachers Earn Far Lower Incomes Than Sports Stars and Hollywood Actors
“The fact that first responders and teachers are paid so little relative to professional athletes and Hollywood stars is a feature of our world and economy; it’s not a bug. This reality deserves our gratitude.” ~ Donald J. Boudreaux
The Not-So-Great Depression Diet
“It’s a stretch to blame today’s obesity crisis on America’s second Great Reset – the vast legal and socioeconomic changes ushered in by the Depression, New Deal, and World War II – but it certainly started Americans down the wrong dietary path.” ~ Robert E. Wright
The Age of Decline
“We enter the Age of Decline and find ourselves victims of our own success. History tells us that impoverished societies die by war and famine. Now we are learning that prosperous societies die by attrition.” ~ Antony Davies
1619 Project: A Flawed Interpretation With a Hidden Agenda (Video)
“In this episode of Liberty Curious, Kate Wand and AIER Research and Education Director Phillip W. Magness highlight the historical flaws of the 1619 project, and explore why it excludes abolitionists like Frederick Douglass.” ~ AIER
Words, Numbers, and Samuel Gregg
“This week AIER’s Samuel Gregg joins AIER Senior Editor James Harrigan and Antony Davies on Words & Numbers to discuss his new book, The Next American Economy.” ~ AIER
The Tragedy of the Monetary Commons
“While relatively well-functioning governments have managed to find mechanisms that mitigate the problem, it seems unlikely that Argentina and Brazil will be able to prevent a tragedy of the monetary commons given their history of money and fiscal mischief.” ~ Bryan Cutsinger
Supply Constraints and Inflation, Revisited
“The Fed was late to realize nominal spending was surging and failed to correct course promptly when it realized it had made a mistake. Prices are higher today—and will remain permanently higher—as a consequence.” ~ William J. Luther
Efforts to Depoliticize the Fed Will Likely Make Matters Worse
“These efforts to increase Congressional oversight are unlikely to depoliticize the Fed. Indeed, they are likely to make matters even worse.” ~ Nicolás Cachanosky
Should the Fed Stop Tightening?
“The Fed should stay the course. Putting the nail in the inflationary coffin is more important than hyper-calibrating a ‘soft landing.’ But it likely won’t be long before we’re done.” ~ Alexander William Salter
The FOMC: To Pause or Not to Pause?
“Given uncertainties surrounding the unusual stimulus and the lagged effects of monetary policy, it would be prudent to hold the Federal Funds rate constant for a few months and see how the economy responds to recent policy.” ~ Gerald P. Dwyer
An Apostate Indicts Our Educational System
“Despite the hand-wringing from the education establishment that Thiel, Gibson, and others are doing something terrible when they persuade smart young people to eschew college, their idea is catching on.” ~ George Leef
The 1519 Project: An Antidote to Caricature?
“To suggest that the experience of slavery is a uniquely Black, or uniquely North American phenomenon does a great injustice to the Blacks and other North Americans who came before 1619.” ~ Paul Schwennesen
China: House Divided
“To paraphrase Abraham Lincoln, the Chinese commercial state cannot stand divided against itself. China will not cease to exist, but it will cease to be divided. It will become all authoritarian, or it will become capitalist.” ~ Michael Munger
Markets Aid Rhino Survival
“Exploring a free market approach to rhino preservation through village-managed property rights presents a clear option, similar to successful programs for elephants and tigers.” ~ David Gillette & Caroline Wright
Garet Garrett, the Great
“We could easily consider his first name an anagram for what his stance against the New Deal was, g-r-e-a-t, while also recognizing that some of his views resemble a dusty old attic.” ~ Robert E. Wright
Headline Inflation Falls, But Core Inflation Remains Elevated
“At this point, it seems likely Fed officials will move forward with a 25 basis point hike. But how high they will push rates this year and how long they will keep rates high remain open questions.” ~ William J. Luther
Is the Debt Ceiling Lunacy?
“Unconstrained politicians are likely to authorize more borrowing than they should. The debt ceiling might provide a useful—if somewhat limited—constraint against excessive borrowing.” ~ William J. Luther
Book Review: How the “Chip War” Vindicates Economics
” Miller’s book exemplifies good, evidence-driven economic research. By educating the reader on the essential developments of the semiconductor industry, he inadvertently vindicates multiple economic thinkers and principles.” ~ Robertas Bakula
Be Grateful that First Responders and Teachers Earn Far Lower Incomes Than Sports Stars and Hollywood Actors
“The fact that first responders and teachers are paid so little relative to professional athletes and Hollywood stars is a feature of our world and economy; it’s not a bug. This reality deserves our gratitude.” ~ Donald J. Boudreaux
The Not-So-Great Depression Diet
“It’s a stretch to blame today’s obesity crisis on America’s second Great Reset – the vast legal and socioeconomic changes ushered in by the Depression, New Deal, and World War II – but it certainly started Americans down the wrong dietary path.” ~ Robert E. Wright
The Age of Decline
“We enter the Age of Decline and find ourselves victims of our own success. History tells us that impoverished societies die by war and famine. Now we are learning that prosperous societies die by attrition.” ~ Antony Davies
1619 Project: A Flawed Interpretation With a Hidden Agenda (Video)
“In this episode of Liberty Curious, Kate Wand and AIER Research and Education Director Phillip W. Magness highlight the historical flaws of the 1619 project, and explore why it excludes abolitionists like Frederick Douglass.” ~ AIER
Words, Numbers, and Samuel Gregg
“This week AIER’s Samuel Gregg joins AIER Senior Editor James Harrigan and Antony Davies on Words & Numbers to discuss his new book, The Next American Economy.” ~ AIER
The Tragedy of the Monetary Commons
“While relatively well-functioning governments have managed to find mechanisms that mitigate the problem, it seems unlikely that Argentina and Brazil will be able to prevent a tragedy of the monetary commons given their history of money and fiscal mischief.” ~ Bryan Cutsinger
Supply Constraints and Inflation, Revisited
“The Fed was late to realize nominal spending was surging and failed to correct course promptly when it realized it had made a mistake. Prices are higher today—and will remain permanently higher—as a consequence.” ~ William J. Luther
Efforts to Depoliticize the Fed Will Likely Make Matters Worse
“These efforts to increase Congressional oversight are unlikely to depoliticize the Fed. Indeed, they are likely to make matters even worse.” ~ Nicolás Cachanosky
Should the Fed Stop Tightening?
“The Fed should stay the course. Putting the nail in the inflationary coffin is more important than hyper-calibrating a ‘soft landing.’ But it likely won’t be long before we’re done.” ~ Alexander William Salter
The FOMC: To Pause or Not to Pause?
“Given uncertainties surrounding the unusual stimulus and the lagged effects of monetary policy, it would be prudent to hold the Federal Funds rate constant for a few months and see how the economy responds to recent policy.” ~ Gerald P. Dwyer
An Apostate Indicts Our Educational System
“Despite the hand-wringing from the education establishment that Thiel, Gibson, and others are doing something terrible when they persuade smart young people to eschew college, their idea is catching on.” ~ George Leef
The 1519 Project: An Antidote to Caricature?
“To suggest that the experience of slavery is a uniquely Black, or uniquely North American phenomenon does a great injustice to the Blacks and other North Americans who came before 1619.” ~ Paul Schwennesen
China: House Divided
“To paraphrase Abraham Lincoln, the Chinese commercial state cannot stand divided against itself. China will not cease to exist, but it will cease to be divided. It will become all authoritarian, or it will become capitalist.” ~ Michael Munger
Markets Aid Rhino Survival
“Exploring a free market approach to rhino preservation through village-managed property rights presents a clear option, similar to successful programs for elephants and tigers.” ~ David Gillette & Caroline Wright
Garet Garrett, the Great
“We could easily consider his first name an anagram for what his stance against the New Deal was, g-r-e-a-t, while also recognizing that some of his views resemble a dusty old attic.” ~ Robert E. Wright
Headline Inflation Falls, But Core Inflation Remains Elevated
“At this point, it seems likely Fed officials will move forward with a 25 basis point hike. But how high they will push rates this year and how long they will keep rates high remain open questions.” ~ William J. Luther
