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.

Helping Social Security by Helping Yourself

“Not retiring — instead, doing age-appropriate jobs — is at least a partial solution to the prospect of an insolvent Social Security trust fund.” ~Jimmy Alfonso Licon

Why Does the Federal Government Borrow? 

“Policymakers have an incentive to finance spending with money printing and debt to hide the cost of spending from taxpayers. These costs cannot be hidden forever, though.” ~Thomas Savidge

Communism’s Routine Evil: East German Edition

“Hoyer attempts to provide a sympathetic reading of an alternative to capitalism – one that engaged in brutality, sure, but made such wonderful strides for inequality, women, and workers, and in which individuals did make their way and find meaning. In doing so, she ignores one big problem: the bodies.” ~Nikolai Wenzel

On the Efficiency and Morality of Free Markets

“Conservatives should be among the first to recognize that the struggle for political power when the state enforces concrete moral codes is destined to lead either to tyranny or to society-shredding violence.” ~Donald J. Boudreaux

Robinson-Patman Deserves Last Rites, Not Resurrection

“It strips consumers’ freedom to choose for themselves in an area they are far more competent at than government ‘enforcers,’ combined with the chutzpah of claiming that its purpose is to benefit competition.” ~Gary M. Galles

Whither the American Dream? 

“While the American dream was in its ascendancy, the Democratic left splintered, creating two factions which helped kill the American dream.” ~Ryan Bourne

The Origins of The War on Prices

“The past decade…has normalized the view that tampering with specific prices is no big deal. An unexpected inflation, arbitrarily redistributing income as it does, creates a fertile environment to justify controlling more prices still.” ~Ryan Bourne

More Housing Fixes (Almost) Everything

“The right should like that housing deregulation means fewer rules burdening businesspeople and people earn higher real incomes. The left should like that housing deregulation means higher real incomes and lower inequality.” ~Art Carden

The Martyrdom of Jimmy Lai

“Anyone who watches the documentary on Lai’s life is likely to find himself asking a question: ‘Would I have the courage to do what Jimmy Lai is doing?'” ~Jon Miltimore

Inflation to the Nines

“Americans will have to decide for themselves if the claim made by Biden was a lie intended to mislead anyone not familiar with the trajectory of prices over the past several years, or an innocent error.” ~Peter C. Earle

‘Tyranny’ by Any Other Name

“The liberal version of true democracy is everyone getting to decide, peaceably, how to manage their own lives — not everyone being perpetually subjected to the whims of 50-percent-plus-one of their fellow men.” ~Richard Morrison

Business Conditions Monthly March 2024

“We remain cautious, as economic statistics have been both volatile and reflective of highly unusual underlying conditions since pandemic policies were lifted three years ago.” ~Peter C. Earle

The Demise of the Dual Banking System 

“The issue comes down to whether a state-chartered bank that fulfills the legal requirements for a master account can be denied one by the Federal Reserve.” ~Gerald P. Dwyer

Creating So Many Jobs that Destroy Wealth 

“Many of the jobs created directly or indirectly by government policies impose net costs on society rather than producing benefits, which worsens rather than improves Americans’ wellbeing.” ~Gary M. Galles

FISA Destroys the Rule of Law

“Evidence…cannot be challenged by opposing counsel and are highly classified. This has resulted in the drone-like ‘rubber stamping’ of warrantless surveillance conducted without oversight or challenge.” ~Spence Purnell

Protectionists’ Cheap Tricks

“Gains from trade are mutual, a reality that isn’t changed one iota by imposing a political boundary between the traders. Protectionism therefore strips both foreigners and Americans of these gains.” ~Donald J. Boudreaux

The Magic Food Cupboard

“Every small aspect of the work that people do to deliver and stock those Whole Foods grocery shelves is noble, in its own way. Dismissing the parts as meaningless fails to understand the power of the larger system.” ~Michael Munger

The Bourgeois Deal Brought Us More than Pie in the Sky

“We didn’t need a worker’s revolution to get and enjoy pie in the here and now… Innovation and profit-seeking in a society that embraced the Bourgeois Deal made workers so much more productive that the pie grew. A lot.” ~Art Carden

Apple’s Big Business: Mises is Right, Sen Warren is Wrong

“The government’s ever-growing interest in deterring business expansion, along with granting federal agencies greater say over marketplace matters, is a complete disservice to our nation’s progress.” ~Kimberlee Josephson

Getting Monetary Policy Back on Track

“Experts seemingly identify much more closely with the central bankers — the practitioners of monetary policy — than with those forced to contend with the negative consequences of bad decisions.” ~Judy Shelton

Is Texas Really the Future of Freedom?

“Texas does several big things really well, and I’m rooting for them to improve elsewhere. But let’s not pretend Texas is the free-market archetype for the country.” ~Jason Sorens

Unlimited Growth, Forever

“Every popular scare of the past has been side-stepped, improved, or solved, by one or another human effort, usually serendipitously and rarely at all with well-meaning bureaucrats directing the process. ” ~Joakim Book

The Ratchet Effect on the Fed’s Balance Sheet

“The ratchet effect has locked us in a world with a massive Fed balance sheet — and the insidious problems of runaway deficit spending and easy bailout monetary expansion that come with it.” ~ Paul Mueller

Florida’s Faux-Meat Ban Slaughtered Free Enterprise 

“The public interest is served when fraud, deception, and misleading labeling are prevented. Unfortunately, the Florida legislature has gone far beyond this, at the behest of the ranchers’ lobby.” ~Paul Mueller

Does Market Concentration Signal Monopoly?

“The Coasean theory of the firm is noticeably absent from antitrust discussions. Failure to understand that firms arise to lower costs can lead to incorrect conclusions.” ~Jon Murphy

Stakeholder Statism is Coming

“ESG follows the trajectory of efforts by the progressive left to replace a free, voluntary, and competitive society… with centrally ordered institutions… to engineer their preferred society.” ~Richard M. Reinsch

Failed Proof that Every Vote Counts

“Many candidates who have vociferously insisted that ‘every vote counts’ push policies that deny vast numbers of Americans the right to get what they would vote for if given the choice.” ~Gary Galles

Take National Security Off Auto-Pilot

“We have squandered our own scarce resources, bred animosity overseas, and frequently made existing conditions worse.” ~Andrew Byers

They Can Afford It!

“Even companies with unusually high net worth cannot, in fact, afford to pay workers more than those workers contribute to the companies’ bottom lines.” ~Donald J. Boudreaux

Taxpayer Rights Revival in California

“With inflation shrinking the purchasing power of their dollar and faced with higher tax bills because of ‘bracket creep,’ taxpayers are starting to push back against wasteful government spending again.” ~Thomas Savidge

Economists’ Advocacy for a Carbon Tax Is Misguided

“The reality is that bureaucrats and politicians would likely choose a metric aligned with their self-interest or with the interests of those who currently hold power.” ~Kenneth W. Costello

Weaving Stable Neighborhoods

“It’s simply unconscionable that so many of us continue to invest our charitable time and treasure into projects that undermine social cohesion rather than building it.” ~Rachel Ferguson