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.

Professors Are Not “Priests of Democracy”

– December 3, 2022

“If we ascribe qualities like academic freedom, free speech, opposition to censorship, and skepticism of government to American democracy, as Walker does, then we should avoid putting academia on a pedestal it does not deserve.” ~ Garion Frankel

American Health Care Consumers Should Have Access to Drugs and Devices Benefitting People in Developed Countries

– December 3, 2022

“If members of the incoming Congress are serious about increasing access to health care and reducing health care costs, they should, at a minimum, pass a law that allows for drug and device ‘reciprocity’ with other developed nations.” ~ Jeffrey A. Singer

Payroll Gains Beat Expectations, but the Pace Is Slowing

– December 2, 2022

“Payrolls gains beat expectations in November, but the pace appears to be slowing. Mixed signs for the labor market, sustained price pressures, and an aggressive Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

Inflation is Deflating the American Dream

– December 2, 2022

“Big-government policies must end before they send us further down the road to serfdom. Our newly elected officials have a responsibility to prioritize fighting inflation, and restoring the American Dream.” ~ Vance Ginn

DEA Whistleblower Claims Mass Fraud and Corruption. Is Anyone Surprised?

– December 2, 2022

“What’s good for violent drug cartels is good for the DEA, but bad for the rest of the human race. DEA agents are immersed in a violent and shady world, largely subsidized by US taxpayers and through theft via asset forfeiture.” ~ Laura Williams

We Don’t Need Regulation (or Statist Education)

– December 2, 2022

“At best, costly regulatory and educational bureaucracies fail to protect investors. At worst, they encourage dismisinfoganda and even outright fraud to support radical progressive and collectivist agendas.”~ Robert E. Wright

Manufacturing-Sector Contracts in November

– December 1, 2022

“The latest manufacturing survey suggests broadening weakness and falling price pressures for manufacturers. The outlook remains highly uncertain. Caution is warranted.” ~ Robert Hughes

Adam Smith’s Oft-Missed Lesson on Human Imagination

– December 1, 2022

“Lessons around the division of labor that stop with Smith’s description of the multiple human tasks miss his largest lesson: it is the human imagination that is most responsible for ongoing economic growth, not the dividing of manufacturing into separate tasks.” ~ Craig J. Richardson

Weekly Initial Claims Continue to Trend Higher

– December 1, 2022

“Weekly initial claims fell, but the rising trend in the four-week average and increasing job cut announcements are a warning. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes

Taxes, Spending, and Powerball Winnings

– December 1, 2022

“A system that rewards our elected officials for spending today, without regard to the future costs, inevitably leads to one conclusion: ever-growing public debt. The current debt crisis is no mystery.” ~ David Hebert

Mental Health Is In Crisis. What Is the Answer?

– December 1, 2022

“The first step toward fixing it is not letting it get worse. Given the US government’s track record of harming perhaps those who need our help the most, I think it would be foolish to trust them now.” ~ Raymond J. March

Private-Sector Job Openings Remain High Despite Falling in October

– November 30, 2022

“Private-sector job openings fell in October but remain high, suggesting continued resilience. However, the outlook remains highly uncertain.” ~ Robert Hughes

Third Quarter GDP Revised Higher but Pockets of Weakness Persist

– November 30, 2022

“Headline real GDP growth was revised higher in the third quarter, but domestic demand remained weak. Caution is warranted.” ~ Robert Hughes

There’s No Natural ‘Carrying Capacity’ for the Human Population: An Essay Inspired by the Happy News that the Human Population Has Reached Eight Billion

– November 30, 2022

“We don’t obtain resources from an existing stock created for us by nature, leaving fewer resources available for use tomorrow each time we withdraw some amount for our use today. Instead, resources are ultimately fruits of the human mind and effort.” ~ Donald J. Boudreaux

Privacy in the Digital Era: Who Controls Private Data?

– November 30, 2022

“To preserve freedom for posterity, liberty minded policy makers should be working to stymie the government’s ability to capture and control data in the digital commons.” ~ Leslie Corbly

Yes, an Academic Free-Speech Conference Needed Protection from the Mob

– November 30, 2022

“Universities themselves should be viewed as places where members of an academic community gather to discuss ideas of the day. They should generally not take stands on issues.” ~ Richard K. Vedder

Consumer Expectations Remained at Recessionary Levels in November

– November 29, 2022

“Consumer confidence fell again in November with consumer expectations at recessionary levels. An aggressive Fed tightening cycle, elevated price pressures, and the fallout from the Russian war in Ukraine remain risks for the economic outlook.” ~ Robert Hughes

When Lenin Read a Book on Marx

– November 29, 2022

“It is no small irony that Hobsbawm’s qualitative investigation of Marx’s dissemination and spread now finds empirical validation in the unlikeliest of sources: our econometric analysis of the Soviet revolution’s effects on Marx’s citation patterns after 1917.” ~ Phillip W. Magness