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.

Simple

– January 24, 2022

“Compared to the lives of our pre-industrial ancestors – and, in fact, compared even to the lives of our literal grandparents – each of our lives today is simple beyond the imagination of those who lived a few generations or more ago.” ~ Donald J. Boudreaux

Political Preferences and Public Policy

– January 24, 2022

“Citizens and voters have less influence over public policy than a romantic notion of democracy would suggest. The political elite tells voters what to think, and they fall in line behind their leaders.” ~ Randall G. Holcombe

Don’t Look Up: The Allegory We’ve Been Waiting For

– January 24, 2022

“McKay’s dark satire about the inability to warn most people of impending danger before it’s too late should resonate with all who strive for sound money, fiscal sobriety, personal responsibility, and limited government.” ~ Peter C. Earle

Africa Needs Carbon Fuels

– January 23, 2022

“It’s time to end environmental colonialism. Let Africa develop – quickly – and they, like people elsewhere, will choose more environmental protection as they grow wealthier.” ~ James E. Hanley

From Darkness to Light

– January 23, 2022

“As long as people believe the current anointed, such as Dr. Fauci, are trusted societal screenwriters the lessons of history, economics, and the laws of power will not be learned. We will continue to deny our responsibility to oppose anyone claiming to be anointed.” ~ Barry Brownstein

Walter E. Williams, One of a Kind

– January 22, 2022

“A dedicated teacher and tireless defender of classical-liberal values, Walter’s vast body of work will not only continue to inspire those of us already in the liberal camp, but also to challenge those who as yet aren’t.” ~ Donald J. Boudreaux

What Killed the Red Cars Is Still Killing Transit

– January 22, 2022

“Cars are superior to transit alternatives for the vast majority of individuals and circumstances. Policies which will punish the majority for whom driving remains far superior cannot effectively serve all residents’ interests.” ~ Gary M. Galles

“Zero Risk” Is Too Risky for Me

– January 21, 2022

“Patrick Henry declared under a much greater risk environment, ‘Give me liberty, or give me death!’ My request is not so audacious. I seek the liberty we had even if it comes with a slight uptick in risk.” ~ Jon Sanders

The Money Illusion: A Review

– January 21, 2022

“‘Nothing is as it seems in the world of money,’ Sumner concludes, and worse so as of late. In his grand attempt at rectifying the many blunders in understanding the Great Recession, there’s something for everyone to learn.” ~ Joakim Book

The Value of Work

– January 21, 2022

“If the Great Resignation has taught us anything, it is this. No one fully understands what is happening in American labor markets. Our economy is still changing rapidly, but that’s not the only variable. Workers are changing too.” ~ Rachel Lu

Existing Home Sales Fell in December and Supply Remains Extremely Tight

– January 20, 2022

“Existing-home sales fell sharply in December, but supply remains very tight. Shifting housing preferences and rising mortgage rates are likely to continue to impact demand over the coming months and quarters.” ~ Robert Hughes

Liberties Are Only Kept Safe by the Limitation of Government Power

– January 20, 2022

“Richard Henry Lee’s generation had learned of the need to keep government within narrow limits, as there are very few areas in which it can advance our general welfare, as opposed to some Americans’ welfare at other Americans’ expense.” ~ Gary M. Galles

Can DAOs Revive Civil Society?

– January 20, 2022

“New technology could help to revive America’s flagging civil society. DAOs significantly lower the costs of association, empowering individuals to create solutions to social problems free from governmental burdens.” ~ David Waugh & Robert E. Wright

Weekly Initial Claims for Unemployment Benefits Rise for a Third Consecutive Week

– January 20, 2022

“Weekly initial claims for unemployment benefits rose to a three-month high, possibly impacted by the recent surge in new Covid cases. Regardless, the labor market remains very tight.” ~ Robert Hughes

A Deeper Dive into PIT’s Latest Passenger Numbers

– January 20, 2022

“Billions of federal dollars have kept airports open and planes in the air with practically no airport layoffs when traffic was greatly depressed, producing enormous increased operations costs not borne by ticket prices.” ~ Colin McNickle

2021 In 21 Numbers

– January 20, 2022

“In retrospect, 2021 looks more and more like 1979. Here are 21 noteworthy data points–prices, percentages, dates and other forms of quantitative information–that highlight or exemplify certain developments in 2021, the second year of the pandemic.” ~ Peter C. Earle

Housing Permits Were Hot in December but Rising Mortgage Rates May Cool Them Off

– January 19, 2022

“Housing activity was solid in December. However, rising home prices and higher mortgage rates may be headwinds for demand while elevated commodity costs remain a challenge for homebuilder profits.” ~ Robert Hughes

Trade-Offs in Economics

– January 19, 2022

“Real-world complications highlight the limits of applying the basic idea of trade-offs in economics, but even with these complications, understanding this one basic economic principle offers powerful insights into consumer choice, economic growth, and international trade.” ~ Robert F. Mulligan