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.

AIER’s Editorial Policy.

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

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

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

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

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