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.

Single-Family Home Constructions Stays Strong in October

– November 18, 2020

“Single-family housing continues to be one of the strongest areas of the economy, supported by low mortgage rates and increased demand.” – Robert Hughes


Getting Covid Is Not a Crime

– November 18, 2020

“As states begin to lock down/lock up again, our choice remains clear: one simple, tried and true rule that respects individual rights and liberties, or myriads of oppressive rules that work at cross purposes and are certain to be mocked now and in the future.” ~ Robert E. Wright


Jerome Powell

Filling Fed Vacancies Would Leave Biden with Few Options to Replace Powell

– November 18, 2020

“Biden’s only other play would be to lean on historical norms. Fed Chairs rarely stick around to serve out their terms as mere Governors when they are not reappointed to the top spot. Janet Yellen resigned in 2018, when Trump replaced her as Chair with Powell, despite having nearly six years left on her term as Governor. Biden might hope Powell will follow suit.” ~ William J. Luther


Not All Government Spending is Stimulus

– November 18, 2020

“Relief spending would be a much-needed blessing for many Americans. But paying people not to work does not stimulate the economy.” ~ Thomas L. Hogan


Cost of Lockdowns: A Preliminary Report

– November 18, 2020

“In the debate over coronavirus policy, there has been far too little focus on the costs of lockdowns. It’s very common for the proponents of these interventions to write articles and large studies without even mentioning the downsides.” ~ AIER Staff


Industrial Output Posted A Solid Gain in October

– November 17, 2020

“A manufacturing rebound continued in October, but reinstated government restrictions could delay the economic recovery.” – Robert Hughes


Americans are Finally Growing Weary of Lockdowns

– November 17, 2020

“In 2020, Americans discovered that governments were capable of impositions on private and commercial life that are without precedent. The Constitution, the Bill of Rights, the legislatures, and the courts did not protect us. The fight for a restoration of normal life will come down to public opinion, and that in turn will happen once an alternative view of public health competes with media falsehoods. It is long past time to rise up.” ~ Jeffrey Tucker


Retail Spending Hits A Record in October but Breadth Narrows

– November 17, 2020

“Retail sales hit another record high in October, but recent developments regarding Covid-19 and reactionary government policies remain significant risks to economic recovery.” – Robert Hughes


Does Science Really Demand that Bars and Restaurants Close?

– November 17, 2020

“Until we start questioning ‘the science’ or demand that our policymakers stop hiding behind the boastful yet ambiguous label of ‘science’ and adequately identify precisely what evidence they are following, we will be sucked into an endless spiral of cyclical shutdowns.” ~ Micha Gartz


Money for the Masses!

– November 17, 2020

“Goldstein treats money like it’s the military: as something we can control, commandeer hither and thither, and that it almost always behaves like we imagine it will. It won’t do.” ~ Joakim Book


Do Not Trust Governments with the Control of Money

– November 16, 2020

“If Judy Shelton is appointed to the Federal Reserve Board of Governors, and if she actually espouses and defends the ideas for which she is being condemned by so many of those ‘mainstream’ economists today, it may be a useful step to the societal transformation to a freer society, a key long run element of which must be the freeing of money from political control.” ~ Richard M. Ebeling


Roads to Sound Money, Edited by Judy Shelton

– November 16, 2020

In 2012, the Sound Money Project, then part of the Atlas Economic Research Foundation, released Roads to Sound Money, a collection of essays edited with a foreword by Judy Shelton. The Sound Money Project is now part of the American Institute for Economic Research. AIER is pleased to post the full contents below.


Debt, Deficits, and the Donald

– November 15, 2020

“Fortunately, divided government will mean no Green New Deal, no federally mandated and funded paid leave, and no Court-packing. But it probably won’t mean less spending. In fact, Senate majority leader Mitch McConnell has already announced that we can expect another COVID-relief bill, one containing many of the Democrats’ favorite provisions, such as bailouts of the states.” ~ Veronique de Rugy


Keeping Covid Perspective

– November 15, 2020

“What I believe is deranged is the failure to put Covid-19 in proper perspective. It is deranged to behave as if the risks that Covid poses to kindergartners, to college students, and to healthy young people are indistinguishable from the risks that Covid posed to your elderly father, or poses even to me, a 62-year-old.” ~ Donald J. Boudreaux


Will Consumer Confidence Return? (Video, BBC)

– November 14, 2020

“With Joe Biden declared President Elect for the 2020 electoral race, the focus now shifts to markets and policy makers in their reaction to America’s next administration. I joined the BBC to discuss the latest developments.” ~ Edward Stringham


Election and Resurging Virus Drag Down Consumer Sentiment

– November 13, 2020

“Consumer sentiment fell in early November following the election and a resurgence in Covid-19 infections. Combined with renewed restrictions, the outlook remains highly uncertain.” – Robert Hughes


Even a Military-Enforced Quarantine Can’t Stop the Virus, Study Reveals

– November 13, 2020

“The lockdowners keep telling us to pay attention to the science. That’s what we are doing. When the results contradict their pro-compulsion narrative, they pretend that the studies do not exist and barrel ahead with their scary plans to disable all social functioning in the presence of a virus. Lockdowns are not science. They never have been. They are an experiment in social/political top-down management that is without precedent in cost to life and liberty.” ~ Jeffrey Tucker


The Orwellian Pandemic

– November 13, 2020

“This strange power of language to change hearts and minds was always dubious at best but has, in our times of coronavirus need, gone completely berserk. If we tell a virus to back off, it will. If we ensure one another with empty religious phrases, we’ll all be protected from God’s wrath. George Orwell and his ‘Politics and the English Language’ has never felt more relevant.” ~ Joakim Book