Daily 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.
The Political Parties Abandon the Working Class
“The approach to the pandemic that the Democratic Party and liberal-left has adopted represents the culmination of Frank’s concerns expressed in Listen, Liberal. The working class and poor have been utterly forsaken; the party serves primarily the interests of the ruling class. The Democratic Party cannot expect to win back the working class until it addresses this shortcoming. Because even if Joe Biden wins this election narrowly, this fundamental issue will remain.” ~ Jenin Younes
The Many Ways in Which Freedom Won the Election
“The media and the elites learned nothing from the 2016 election. But for now, some pretty awful policies were defeated. May the utter disaster and election mismanagement unfolding before our eyes in many states right now lead a few people to wonder why on earth they should believe that a government that can’t do something as basic as running an election should possibly be in charge of the rest of our lives.” ~ Veronique de Rugy
Private Payrolls Rose By 906,000, But Are Still Down 9 Million Since February
“Private payrolls added 906,000 in October, but ongoing restrictions and a large number of unemployed suggest the recovery remains highly uncertain.” – Robert Hughes
Lockdowns: The Great Debate
Tonight, the Journal of the American Medical Association is finally permitting some debate on lockdowns on their very influential YouTube channel. The debate will be between Harvard’s lockdown architect Dr. Marc Lipsitch and Dr. Jayanta Bhattacharya of Stanford, one of three primary authors of the Great Barrington Declaration. It will be moderated by Dr. Howard Bauchner, who is the editor of JAMA and a busy podcaster who hosts regular video updates from Dr. Anthony Fauci.
Ant Group’s IPO and the Rising Tide of Authoritarianism
“Although China may seem like a far-off place, authoritarianism is on the rise here in the United States. The cost of liberty is eternal vigilance, and today there is a growing tide of economic illiberalism that seeks to betray core economic principles. Such an onslaught will not only leave us economically worse off but as we have just seen in China, suppressing economic freedom also requires suppressing personal freedom.” ~ Ethan Yang
Initial Claims for Unemployment Benefits Fall Slightly
“Initial claims for unemployment benefits fell slightly and remained below 800,000 for a third week, but risks to the recovery remain.” – Robert Hughes
Light-Vehicle Sales Ticked Down in October
“Auto sales fell slightly in October but stayed at the lower end of the historical range.” – Robert Hughes
We need a Market for Expert Advice, and Competition Among Experts
“Without competition among experts, we can expect more expert failure in the future. It is time to reform SAGE and reduce the monopoly power of its one, largely unchallenged, team of experts.” ~ Roger Koppl
The Fun Night that Wasn’t Fun
“May this wonderful country be forever spared another nightmare such as 2020 has brought. The way to make sure that happens is finally to recognize and embrace the limits of state power. Let them figure out how to count ballots before they ever again take away our freedoms in the name of virus management.” ~ Jeffrey Tucker
ISM Services Index Eases Back in October but Still Suggests Expansion
“The services sector expanded again in October, but employment remains weak. Renewed lockdowns and restrictions remain a threat to future growth.” – Robert Hughes
The 2013 Lockdown Experiment in Boston
“In April 2013, a citywide lockdown was cancelled in less than one day owing to concerns about health & commercial costs.” ~ Peter C. Earle
Attacks on Dissenting Voices Set Back Scientific Progress
“Learning depends on open inquiry. Thoughtful, informed people know that something is terribly wrong with the Covid-19 orthodoxy. Others have ‘nagging suspicions.’ If dissenting voices continue to be attacked by those in positions of power, there is little doubt that decades from now historians will ask, How could they have been so blind?” ~ Barry Brownstein
A Sensible and Compassionate Anti-COVID Strategy
“We should respond to the COVID virus rationally: protect the vulnerable, treat the people who get infected compassionately, develop a vaccine. And while doing these things we should bring back the civilization that we had so that the cure does not end up being worse than the disease.” ~ Dr. Jayanta Bhattacharya
The ’Rona Squeeze and a Swedish Hip-Hopper
“Most everywhere else, different rules apply: no matter the facts, we must squeeze harder. The badly-behaved virus must stop progressing, must cease and desist. Anything else, apparently, ‘just doesn’t seem worth it.'” ~ Joakim Book
Covid and Constitutional RoadKill
“Americans need to recognize the profound weaknesses revealed this year in democratic governments at every level. A strict adherence to the Bill of Rights is the surest way to reduce post-Election Day perils. If freedom is to survive, Americans must become far better informed of the dangers from government — regardless of who wins the Presidency.”~ James Bovard
Lockdowns as a Political Tragedy of the Commons
“All of this because of a political tragedy of the commons created by governments who insist on their right and duty to nationalize decision-making over all the private actions and activities of the citizenry subject to their control. Maybe we need a new slogan: Locked-down lives matter, and governments should stop doing it.” ~ Richard M. Ebeling
2020-2030 Could Be the Decade of Economic Malaise
“If history shows us anything, this experience may very well spark a renaissance for the ideas of limited government and markets. If only we could learn this the easy way rather than the hard way.” ~ Ethan Yang
ISM Manufacturing Survey Posts Strong Results in October
“The ISM Manufacturing survey suggests the sector is recovering strongly from government lockdowns, though some recent strength may be related to stockpiling ahead of potential new lockdowns.” – Robert Hughes
