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.
A Bottom-up Approach to Governing the New Generation of AI
“Embracing a bottom-up approach of governance, though not perfect, is the best strategy to ensure that the benefits of AI become a reality without endangering the important values we cherish.” ~ Michael N. Peterson
Bank Term Funding Program Discounts the Discount Window
“The Fed says it created BTFP to ‘support American businesses and households.’ But those businesses and households will ultimately be on the hook if the Fed’s risk-taking turns out to be too much.” ~ Nicolás Cachanosky
Adam Smith v. Wesley Jones
“It is long past time Americans saw through the multiple misrepresentations that have defended the Jones Act’s nothing-for-something restrictions for over a century, including twisting Adam Smith’s logic into a false endorsement of its enormously costly restrictions.” ~ Gary M. Galles
If Only Someone Made the Moral Case for Capitalism
“If only there were someone who could have warned the new intellectuals that they ‘must fight for capitalism, not as a ‘practical’ issue, not as an economic issue, but, with the most righteous pride, as a moral issue. That is what capitalism deserves, and nothing less will save it.'” ~ Robertas Bakula
Should Government Control Our Lives? Featuring Jason Sorens (Video)
“On this episode of Liberty Curious, Kate Wand sits down with Jason Sorens, Senior Research Faculty at AIER, co-author of Freedom in the 50 States, and founder of the Free State Project, to discuss how much government interferes with our daily lives.” ~ AIER
Ideas and Consequences: Seeing Visions Everywhere
“My vision is that we learn how to dress up a grumpy realism in snazzier clothing, and capture the noble aspirations of the unconstrained visionaries among us.” ~ Bruce Rottman
Federal Reserve Raises Rate Target, Likely To Pause For Some Time
“In March, the median FOMC member projected the federal funds rate target would close the year above 5.0 percent. But the federal funds futures market is pricing in better-than-even odds that the target rate is less than 5.0 percent following the September meeting.” ~ William J. Luther
Hamilton’s Haircuts
“Whatever you think of the wisdom of Hamilton’s moves, our point is simple and stark: The US government has defaulted in the past.” ~ David R. Henderson and Jeffrey R. Hummel
On Fed Reforms, Ramaswamy Swings and Misses
“Ramaswamy’s arguments reveal he is unfamiliar with the ins and outs of monetary policy. His suggestions are poorly motivated and won’t result in a stronger economy. He’ll need to do better if he wants to rein in the Fed.” ~ Alexander William Salter
The Path to Full Stagflation
“The US economy looks to be pointed in a troubling direction. Federal unemployment data shows record low unemployment, but state-level data paints a different picture: one where the current ‘stagflation lite’ conditions could soon become fully stagflationary.” ~ Peter C. Earle
An Astonishing Proposition
“Does the Biden administration believe that home buyers have the moral duty to sacrifice their own objectives in order to help others achieve their goals, and the government should enforce this moral duty?” ~ Peter J. Wallison
Sanguine about the State: A Critique of Political Science
“Political scientists should be less sanguine about the concept of the state itself and more welcoming to the concept of governance through spontaneous order. And that is because non-state organization entails less coercion.” ~ James E. Hanley
A Doctor Dissents from Statist Orthodoxy
“There are, however, some doctors who aren’t afraid to make the case for freedom, both in medical care and in all other aspects of our lives. One of them is Dr. Miguel Faria.” ~ George Leef
What’s Called “Common Good Capitalism” Would Work Against the Common Good
“Because innovation is destined not only to reveal new ends that must be fitted into — and, hence, disrupt — the ‘common good capitalist’ plan, but also to create new and unanticipated means of pursuing ends, innovation must be suppressed if any ‘common good capitalist’ plan is to be seriously imposed.” ~ Donald J. Boudreaux
Back to the Future: The Biden Administration’s Loan Level Price Adjustment and a Repeat of the Housing Crisis
“The LLPA would be immediately damaging to all Americans who have done the right thing, established solid credit and saved for an adequate down payment. It would be eventually damaging to those who are given unsustainable mortgages.” ~ H. Shelton Weeks & Nikolai G. Wenzel
Does the 1619 Project Have Anything To Teach Us? Phil Magness at the Soho Forum Debate (Video)
“Magness and Holton recently debated the resolution: ‘The New York Times book The 1619 Project, and the Hulu video series based on it, are important contributions to our understanding of slavery and the role of African Americans in American history.'” ~ AIER
The Political Cleverness of Envy-Driven Housing Policies
“This is a recipe for housing stagnation. Strangling the supply of new market rate housing through these various programs means that existing market rents (whenever they are not regulated), must reach stratospheric levels.” ~ Raymond C. Niles
Biden’s Bad Bet: How Regulation Kills Economic Growth
“We need to do two things to clean up this mess: unshackle the economy and shackle the administrative state. Bureaucrats and their political enablers can’t be trusted to curb their ambitions, so we must do it for them.” ~ Alexander William Salter
A Bottom-up Approach to Governing the New Generation of AI
“Embracing a bottom-up approach of governance, though not perfect, is the best strategy to ensure that the benefits of AI become a reality without endangering the important values we cherish.” ~ Michael N. Peterson
Bank Term Funding Program Discounts the Discount Window
“The Fed says it created BTFP to ‘support American businesses and households.’ But those businesses and households will ultimately be on the hook if the Fed’s risk-taking turns out to be too much.” ~ Nicolás Cachanosky
Adam Smith v. Wesley Jones
“It is long past time Americans saw through the multiple misrepresentations that have defended the Jones Act’s nothing-for-something restrictions for over a century, including twisting Adam Smith’s logic into a false endorsement of its enormously costly restrictions.” ~ Gary M. Galles
If Only Someone Made the Moral Case for Capitalism
“If only there were someone who could have warned the new intellectuals that they ‘must fight for capitalism, not as a ‘practical’ issue, not as an economic issue, but, with the most righteous pride, as a moral issue. That is what capitalism deserves, and nothing less will save it.'” ~ Robertas Bakula
Should Government Control Our Lives? Featuring Jason Sorens (Video)
“On this episode of Liberty Curious, Kate Wand sits down with Jason Sorens, Senior Research Faculty at AIER, co-author of Freedom in the 50 States, and founder of the Free State Project, to discuss how much government interferes with our daily lives.” ~ AIER
Ideas and Consequences: Seeing Visions Everywhere
“My vision is that we learn how to dress up a grumpy realism in snazzier clothing, and capture the noble aspirations of the unconstrained visionaries among us.” ~ Bruce Rottman
Federal Reserve Raises Rate Target, Likely To Pause For Some Time
“In March, the median FOMC member projected the federal funds rate target would close the year above 5.0 percent. But the federal funds futures market is pricing in better-than-even odds that the target rate is less than 5.0 percent following the September meeting.” ~ William J. Luther
Hamilton’s Haircuts
“Whatever you think of the wisdom of Hamilton’s moves, our point is simple and stark: The US government has defaulted in the past.” ~ David R. Henderson and Jeffrey R. Hummel
On Fed Reforms, Ramaswamy Swings and Misses
“Ramaswamy’s arguments reveal he is unfamiliar with the ins and outs of monetary policy. His suggestions are poorly motivated and won’t result in a stronger economy. He’ll need to do better if he wants to rein in the Fed.” ~ Alexander William Salter
The Path to Full Stagflation
“The US economy looks to be pointed in a troubling direction. Federal unemployment data shows record low unemployment, but state-level data paints a different picture: one where the current ‘stagflation lite’ conditions could soon become fully stagflationary.” ~ Peter C. Earle
An Astonishing Proposition
“Does the Biden administration believe that home buyers have the moral duty to sacrifice their own objectives in order to help others achieve their goals, and the government should enforce this moral duty?” ~ Peter J. Wallison
Sanguine about the State: A Critique of Political Science
“Political scientists should be less sanguine about the concept of the state itself and more welcoming to the concept of governance through spontaneous order. And that is because non-state organization entails less coercion.” ~ James E. Hanley
A Doctor Dissents from Statist Orthodoxy
“There are, however, some doctors who aren’t afraid to make the case for freedom, both in medical care and in all other aspects of our lives. One of them is Dr. Miguel Faria.” ~ George Leef
What’s Called “Common Good Capitalism” Would Work Against the Common Good
“Because innovation is destined not only to reveal new ends that must be fitted into — and, hence, disrupt — the ‘common good capitalist’ plan, but also to create new and unanticipated means of pursuing ends, innovation must be suppressed if any ‘common good capitalist’ plan is to be seriously imposed.” ~ Donald J. Boudreaux
Back to the Future: The Biden Administration’s Loan Level Price Adjustment and a Repeat of the Housing Crisis
“The LLPA would be immediately damaging to all Americans who have done the right thing, established solid credit and saved for an adequate down payment. It would be eventually damaging to those who are given unsustainable mortgages.” ~ H. Shelton Weeks & Nikolai G. Wenzel
Does the 1619 Project Have Anything To Teach Us? Phil Magness at the Soho Forum Debate (Video)
“Magness and Holton recently debated the resolution: ‘The New York Times book The 1619 Project, and the Hulu video series based on it, are important contributions to our understanding of slavery and the role of African Americans in American history.'” ~ AIER
The Political Cleverness of Envy-Driven Housing Policies
“This is a recipe for housing stagnation. Strangling the supply of new market rate housing through these various programs means that existing market rents (whenever they are not regulated), must reach stratospheric levels.” ~ Raymond C. Niles
Biden’s Bad Bet: How Regulation Kills Economic Growth
“We need to do two things to clean up this mess: unshackle the economy and shackle the administrative state. Bureaucrats and their political enablers can’t be trusted to curb their ambitions, so we must do it for them.” ~ Alexander William Salter
