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.

Reining In the Fed

– June 18, 2021

“We know all too well that when it comes to bureaucratic mission creep, it’s incredibly difficult to put the genie back in the bottle. That’s why we must work to right the Fed’s course starting now. Its roles in fighting recessions and preventing financial panics are too important to be hijacked by partisanship.” ~ Alexander William Salter

Tax Havens, or Government Cartels?

– June 18, 2021

“The intergovernmental competition offers one of the few avenues of escape from the oppressive coercion of government. Intergovernmental competition is one of the safeguards of liberty, and that safeguard is under attack by President Biden, Secretary Yellen, and the G-7.” ~ Randall G. Holcombe

Which Antitrust Doctrine Deserves Your Trust?

– June 18, 2021

“Proper reforms should leverage more market functions, not less. In contrast, the neo-Brandeisian model will reintroduce a crippling regime of arbitrary and further unchecked state power that will surely sap the vibrancy from the American economy at a time when it is needed most.” ~ Ethan Yang

The Origin of SARS-CoV-2

– June 18, 2021

“Based on what we know, the lab leak theory better fits the evidence. Even if this particular virus didn’t escape from a lab, government-funded bioweapon experiments are playing with fire and the next time a dangerous virus escapes, which will eventually happen, we may not be so ‘lucky’ as to escape with four million dead.” ~ Charles L. Hooper & David R. Henderson

A Conversation On Post-Pandemic Economic Recovery

– June 17, 2021

“Dr. Darcy W.E. Allen, a vocal proponent of innovative digital technologies and the economics of blockchain, joins Ethan Yang for another rigorous discussion about his new book ‘Unfreeze: How to Create a High Growth Economy After the Pandemic and more.'” ~ AIER

Fighting Invisible Enemies

– June 17, 2021

“The point of waging war against invisible enemies is that the struggle never ends. There is no armistice, no unconditional victory. No overview of the battlefield and no assessment over what more is to come. So, the war keeps going, on and on and on, with no end in sight – and indeed, nobody desires the surrender.” ~ Joakim Book

Pandemic Emergency Spending Riddled With Fraud

– June 17, 2021

“We already knew that the coronavirus pandemic resulted in a bigger burden of government, and none of us should be surprised that we also wound up with record levels of waste. Remember, ‘more government’ is not the answer to any sensible question. At some point, we will run out of ‘other people’s money.'” ~ Daniel J. Mitchell

Weekly Initial Claims for Unemployment Benefits Rise While Continuing Claims Fall

– June 17, 2021

“Despite the slight uptick in weekly initial claims, rising economic activity is driving a strengthening labor market and supporting a positive economic outlook.” – Robert Hughes

Taking a (Lemonade) Stand for Free Enterprise

– June 17, 2021

“The summertime lemonade stand serves more than just refreshing beverages. It stands as a quintessential reminder of how people of all ages love to barter and exchange, as Adam Smith once reminded us. It is in our nature. If we only had the imagination to perceive a world free from commercial barriers, much like our young entrepreneurs do, the world would be less sour and much more sweet.” ~ Anthony Gill

United’s Bid for Supersonic Supremacy Vivifies Burden of Government

– June 16, 2021

“It’s something to keep in mind in consideration of the massive size of the federal government. Trillions in annual spending by politicians logically limits the amount of capital available for businesses trying to improve the present, or in Aerion’s case, striving to create a much better future.” ~ John Tamny

Hyperbitcoinization: By Choice or by Force?

– June 16, 2021

“It’s hard to avoid the conclusion that bitcoin’s culture is changing. Getting to 100% bitcoin adoption remains a core plank of the bitcoin community. But now all routes to that goal seem open, including the use of government force.” ~ J.P. Koning

The Horrors of Hyperinflation

– June 16, 2021

“Governments have few universally accepted goals. National defense, protection of property, and stability of the unit of account are arguably the three most important because all else rides on them. Hyperinflation destroys all three, so any serious risk of hyperinflation is simply unacceptable from a policy standpoint.” ~ Robert E. Wright

Pandemic Pressures Continue to Unwind in Housing

– June 16, 2021

“Home construction activity showed additional signs of cooling in May. The combination of a reopening economy that may be reversing pandemic-related housing preferences and rising single-family prices appear to be impacting activity.” – Robert Hughes

Has the Government Forgotten How Society Works?

– June 16, 2021

“The premise for the modern administrative state is the dubious notion that the federal government can scientifically plan the lives of hundreds of millions of people. The practical outcome is a regime of sheer incompetence and counterproductive policymaking that is fundamentally at odds with the normal functioning of society. It is a system meant not for a nation of pioneers and entrepreneurs, but hall monitors and clerks.” ~ Ethan Yang

Defining Down Freedom

– June 16, 2021

“Politicians vindicated lockdowns by claiming that all the sacrifices are justified if they ‘save just one life.’ But what about ‘just one freedom’ – especially freedoms previously enjoyed by hundreds of millions of people? Instead of ‘Build Back Better’ further empowering reckless rulers, we need to ‘Build Back Freer.'” ~ James Bovard

Industrial Output Rose in May on Broad Gains; Capacity Utilization Remains Low

– June 15, 2021

“Industrial output rose in May and is closing in on pre-pandemic levels. However, substantial excess capacity still exists. While reopening the economy is boosting demand, incomes, and confidence, rising prices are a concern. However, a runaway inflationary spiral remains unlikely.” – Robert Hughes

You Are Not Paying a Higher Relevant Tax Rate Than Billionaires

– June 15, 2021

“Allegations that higher income earners don’t pay their ‘fair share’ of taxes are a mainstay misrepresentation of the political left. When the facts say otherwise, they simply twist the facts and ignore more serious studies. ProPublica’s latest effort is just one more of a long line of such analytical abuses, whose details have varied over time in search of what can be most effectively used to mislead citizens.” ~ Gary M. Galles

Everyday Price Index

Discretionary Spending Categories Drag Down May Retail Sales

– June 15, 2021

“Retail sales fell in May with noticeable weakness among discretionary spending. However, solid consumer fundamentals suggest a positive economic outlook, despite some recent upward pressure on prices.” – Robert Hughes