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.
Taylor Swift, Politics, and the Value of Friendship
“During the silly season of presidential elections, which often brings out the worst in us, it’s important to remember that true friendship is worth more than political pride.” ~Jon Miltimore
How to Really End ESG
“It’s incumbent upon ESG critics to advocate an alternative vision, not merely to fall in line with convention.” ~Russell Greene
Tariffs ‘Protect’ Insiders, While Americans Pay the Price
“The best way to address unfair trade practices is not through blanket tariffs but by expanding trade with allies and non-hostile nations.” ~Vance Ginn
From ‘Taxachusetts’ to ‘City Upon a Hill’
“Tax and spending reform takes more than ‘electing the right people.’ It must be politically profitable for the wrong people to make the right choices.” ~Thomas Savidge
Selling a House in Jersey: a Personal Story of Transaction Costs
“Sellers see fewer dollars from their sales while dealing with time-consuming headaches. Buyers see higher home prices.” ~Paul Mueller
AIER’s Everyday Price Index Eases Marginally in August 2024
“Inflation in the United States will end 2024 above the Fed’s target range.” ~Peter C. Earle
Moderate Inflation Affirms Fed’s Path to Easing
“The Fed should ignore the political noise and follow the data. Central bankers failed to curb inflation, but that doesn’t mean they should deliberately make the opposite mistake now.” ~Alexander W. Salter
Unity in Disunity
“When ‘unity’ means government policies will substitute for choices we would make for ourselves, it means domination, even though we do not want to be dominated.” ~Gary Galles
Remembering the Truly Forgotten
“Money and finance are the font and essence of modernity. I honor and praise the memory of the professionals who worked in the World Trade Center.” ~Peter C. Earle
Overhaul for the Uninsured?
“Full reliance on a public budgeting system for providing access to medical care is a certain prescription for millions of disappointed patients.” ~James C. Capretta
Kroger Invests $1B in Antitrust Defense
“Consumers would be better served if companies could spend more time on improving their services and less on fending off litigation.” ~Noah C. Gould
Lose the Political Informality
“Politicians’ first-name basis… is a mercenary maneuver to gain our confidence on the cheap. It is literally a con game.” ~Donald J. Boudreaux
Harris’s ‘Joy’ Would Cost US Dearly
“Economists have a duty to point out just how destructive these proposals are.” ~Alexander W. Salter
Tax Cryptocurrencies as Money, Not Property
“Treating cryptocurrencies like property for tax purposes discourages people from using them like monies.” ~Gerald Dwyer
The Fed’s Balance Sheet Feeds Bailout Culture
“It appears that Fed officials came to believe that they had the authority and power to do whatever they deem necessary to ‘fix’ the economy.” ~Paul Mueller
‘Reagan’ Biopic Fails the Man and the Moviegoer
“Those who have longed for a satisfactory depiction of Reagan’s made-for-the-movies life will have to keep waiting.” ~Jack Butler
College Football’s Lesson About Political Economy
“College football fandom is a microcosm of the problem of a political economy. It shows that people are willing to pay a price to make their enemies suffer.” ~Art Carden
Is America’s Cultural Glue Weakening?
“Not so long ago in America it was considered rude to ask anyone other than one’s inner social circle which positive moral actions they undertook. But it now happens every second of every day.” ~David Rose
Is America’s Cultural Glue Weakening?
“Not so long ago in America it was considered rude to ask anyone other than one’s inner social circle which positive moral actions they undertook. But it now happens every second of every day.” ~David Rose
DNC Celebrates ‘Freedom,’ But Not Liberty
“As the DNC has just demonstrated so well, a host of rhetorical abuses can find a foothold in offering so many freedoms but so little liberty.” ~Gary M. Galles
Telegram Creator’s Arrest Makes the Supreme Court’s Murthy Ruling Look Even Worse
“The right to free speech is indeed indispensable, but it appears that those who believe otherwise may have already found bigger fish than Facebook and X to act as their censorship surrogates.” ~Jon Miltimore
Slumming It: How Commerce Once Communed with Sin
“The miracle of the modern economy owes as much to the accidental playhouse of 1576 as to the intentional jurisprudence of 1625 and the late-to-the-game Glorious Revolution in 1689.” ~Scott Drylie
Users, Not Regulators, Decide When Google Will Fall
“Congress should Google the benefits of economic freedom and also search up how to curtail the gargantuan levels of government spending…a bulging bureaucratic state is more costly for Americans than the growing success of our most innovative firms.” ~Kimberlee Josephson
What Americans Can Learn From Venezuela’s Crackdown on ‘Price Gougers’
“Ten years ago, Venezuela set out on a path to economic ruin and grave shortages of basic consumer goods, because of price controls on groceries and other products. Is the US really going to travel on the same road?” ~Michael Munger
To Grow Freely, Resist the ‘New Right’
“Under the guise of a new form of conservatism, this faction argues for increased government intervention in the economy, protectionist measures, and the strengthening of monopoly labor unions.” ~Vance Ginn
Inflation Slightly Below Target in July
“The federal funds rate target range is likely to be at least a full percentage point lower by the end of the year. That would significantly reduce the distance the Fed needs to travel in order to return monetary policy to neutral.” ~William J. Luther
Harris’s Child Tax Credit Plan Punishes Working Families
“Now is not the time to add even more spending to future taxpayers’ tab. The very Americans whom the Harris plan seeks to help — children — are the ones who will ultimately face the burden of repaying it in the form of higher taxes and dampened economic growth.” ~Kevin Corinth
Did the Bank of England Set Britain on the Road to Ruin?
“Officials sent out critical letters to Truss and her Chancellor, containing an analysis that has since proved incorrect, and which were immediately leaked to the press. The damage was done – the Bank and the blob had their fall guy.” ~Iain Murray
Food Profit Margins Shrink, But Harris Blames Them for Rising Grocery Bills
“Based on her insistence that price gouging is responsible for high grocery prices — when it clearly is not — the Vice President’s proposal would more likely function as a price freeze or command pricing.” ~Joel Griffith
Free Market Fundamentals and NatCon Inconsistencies
“I’ve never encountered a protectionist of any stripe who explains why the jobs preserved by protectionism have a higher non-material or ethical importance than do the jobs destroyed by protectionism.” ~Donald Boudreaux
Does a Construction Cartel Explain Rising Rents?
“Stoller and Quintero may well be right that home-builder concentration does reduce housing supply and raise costs, but it hasn’t been proven yet, and it’s at best a minor factor compared to the zoning restrictions.” ~Jason Sorens
Regulatory Burden Falls Hardest on the Poor
“Occupational licensing — the costly requirement of a license to be engaged in a particular profession — has grown massively in recent decades. Many of the new regulations fall on low- and medium-income professions.” ~Vincent Geloso
Beijing’s Sovereign Claims for Tibet
“Chinese policy ignores the reality that Tibetans care more about their own distinctive culture, history, and identity than they care about expressing loyalty to Beijing. Perhaps this is what is most galling to China’s leaders.” ~Christopher Lingle
Interventions, Easy Money Run Amok
“An obvious set of perverse incentives simply stimulate more risk-taking by corporate management and investment firms in the future, resulting in even bigger future bailouts down the road. At a certain point this strategy of holding the wolf by the ears will become untenable.” ~Richard Morrison
Entitlement Collapse is Worse Than it Looks
“Voters need to understand that by not pressuring politicians to deal with entitlements now, we might end up with a substantial amount of the means of American production being owned by the government. This will harm our society incalculably.” ~David C. Rose
‘Trivial’ Tariff Would Cost the Poor Billions
“If the de minimis exemption were eliminated, people living in the poorest zip codes would face average tariffs of 12.1 percent.” ~Bryan Riley