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.

We Can’t Breathe!

– August 13, 2022

“The lucky thing is that no planning is needed for recovery, just removal of the policies restricting the free flow of funds to those willing to take calculated risks.” ~ Robert E. Wright

Andrew Jackson: Man of the People

– August 13, 2022

“Jackson’s task, as his supporters saw it, was to be ‘a curative to the corrupt politics cankering Washington.’ He was sent there to drain the swamp.” ~ John Bicknell

Consumer Sentiment Improved in Early August but Remains Very Low

– August 12, 2022

“Consumer sentiment ticked up in early August but hovers near record lows. Inflation expectations eased but remain a driver of weak consumer attitudes. The outlook is highly uncertain.” ~ Robert Hughes

Bug Off and Let People Enjoy Their Food

– August 12, 2022

“The problem isn’t us having a ‘yuck factor’ to dignified mealworms and astounding fly larvae. The problem is them declaring such things ‘the future of food’ and telling us that our disgust is a threat to the world.” ~ Jon Sanders

Should the Federal Reserve Set its Own Goals?

– August 12, 2022

“A target that is not determined solely by the Federal Reserve is less subject to changes solely due to deliberations at the Federal Reserve. It will enhance monetary policy’s effectiveness.” ~ Gerald P. Dwyer

The DIE Revolution Will Transform Tenure

– August 12, 2022

“If universities start removing outspoken faculty members who are adherent to the traditional academic ethic, there will simply be no recourse within the new system.” ~ Alexander Riley

Weekly Initial Claims Increase for the Fifth Time in the Last Six Weeks

– August 11, 2022

“Weekly initial claims rose again, continuing the recent upward trend. Sustained elevated rates of price increases, low consumer confidence, and aggressive Fed tightening are major risks for the economic outlook.” ~ Robert Hughes

Accounting for Inflation

– August 11, 2022

“The great irony is that inflation would have been transitory if only the Fed had stabilized nominal spending. Prices would have risen above trend to reflect below-trend production and then returned to trend as production recovered.” ~ William J. Luther & Morgan Timmann

Save Your Flip Flops for the Beach

– August 11, 2022

“Voters should vote their convictions and consciences as the Framers intended, and policymakers and pundits should stop flip-flopping like fish or flimsy footwear. Either way, it’s a bad look that hurts democratic discourse.” ~ Robert E. Wright

Energy Hypocrisy as Rich Countries Denying the Poor the Power to Develop

– August 11, 2022

“This promised nirvana is a sham consisting of wishful thinking and green marketing. The world’s rich would never accept off-grid, renewable energy themselves — nor should the world’s poor.” ~ Bjorn Lomborg

AIER’s Everyday Price Index Falls 0.6 Percent in July

– August 10, 2022

“AIER’s Everyday Price Index fell 0.6 in July, the first drop since November 2020. An intensifying Fed tightening cycle, consumer pessimism, and fallout from the Russian invasion of Ukraine remain threats to the economic outlook.” ~ Robert Hughes

Making Sense of the Recession

– August 10, 2022

“Unemployment, for good reason, lags the onset of recessions. And assuming that a widespread burst in employment categorically signifies optimism or portends a quick resumption of economic growth is simply unwarranted.” ~ Peter C. Earle

Reich Strikes Out

– August 10, 2022

“According to Reich, higher prices are due to the pandemic, which suppressed demand and created global supply chain problems, together with Russia’s invasion of Ukraine, China’s overzealous lockdown policies, and of course, capitalist greed.” ~ Robert F. Mulligan

You’re Not Poor Because You Don’t Know David Brooks, You’re Poor Because You Don’t Know David Brooks

– August 10, 2022

“Ultimately what Chetty has discovered, and that Brooks has cheered, is very bullish. The problem is that the discovery is not what either thinks it is. The American dream certainly lives, but only because individuals freely make decisions that correlate with the Dream.” ~ John Tamny

The Government Shouldn’t Decide Who May Practice Law

– August 9, 2022

“Legal licensure wouldn’t be a matter of concern if it were not backed up with the power to exclude and punish anyone who dares to compete with the guild.” ~ George Leef

Gulliver’s Travels in Washington, D.C.

– August 9, 2022

“Perhaps, like the King on the Island of Laputa, our elite need a reminder of the danger of wielding such power. Unlike Swift’s protagonist, we are not gullible.” ~ Caroline Breashears

How Airline Regulations Hurt Passengers

– August 9, 2022

“The DOT might think they’re helping, but they’re really not. Airline passengers are far better off when they, not bureaucrats, decide how airlines are run.” ~ Patrick Carroll

Reflections Sparked by A New Jersey Turnpike Rest Area

– August 8, 2022

“I’m confident that everyone at the New Jersey Turnpike rest area, if pressed to think seriously about this feature of the liberal market order as he or she surveyed fellow rest-area visitors, would heartily applaud.” ~ Donald J. Boudreaux