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.
Groping in the Dark
This year, Ludwig von Mises’ Socialism turns 100 years old. Pandemic policies went beyond ordinary collectivism in utterly suppressing rather than seizing industries. We now face costly delays, shortages, and rising prices; this is what Mises’ “groping in the dark” looks like.
Consumer Confidence Softened in January
“Consumer expectations weakened in January, pulling down overall consumer confidence. Continued expansion remains the likely course, but weaker consumer attitudes could become a headwind.” ~ Robert Hughes
Jabbing the Administrative State
“Congress will need to be pellucid about what major powers it chooses to delegate. And the administration will have to offer up the real reasons for administrative actions or risk being second-guessed by the judiciary.” ~ John O. McGinnis
Freedom and Whisky Go Together Like Tyranny and Oppression
“Burns hails whisky as the drink of the ‘freeborn, martial boys’ of Scotland, and he readily sees the ‘foe’ as government: ‘royal George’s will.’ His final lines are well founded. If tyranny is linked to the oppression of distilling, then it follows that ‘Freedom and whisky go together'” ~ Jon Sanders
What the Hell is Inflation Anyway?
“Words mean different things to different people, and their meanings change over time. How we define inflation is a matter of choice, but we must also recognize that choice reflects more fundamental beliefs about how the economy functions.” ~ Michael J. Douma
Simple
“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
“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
“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
“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
“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
“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
“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
“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
“‘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
“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
“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
“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?
“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
