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.

Henry Clay’s “American System” Is Bad News for the American Economy

– December 8, 2022

“The American System’s modern rehabilitators conveniently leave out the fact that every time it was tried in the 19th and early 20th centuries, Clay’s program unleashed a torrent of preventable policy disasters.” ~ Phillip W. Magness & James R. Harrigan

The Libido for the Superficial

– December 8, 2022

“Once the reality of a libido for the superficial is admitted, many phenomena are better understood. For example, it’s easy to understand, and excuse, intellectually unengaged people falling for protectionist fables.” ~ Donald J. Boudreaux

Average Weekly Initial Claims Hits the Highest Level Since September

– December 8, 2022

“Rising weekly initial claims and increasing job cut announcements may signal some labor market softening. Rapid consumer price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes

How Our Higher Education System Could Put Students First

– December 8, 2022

“I fear that LeBlanc underestimates the ability of the educational status quo to fend off competition from new institutions and approaches. Bureaucratic regimes tend to change very slowly and are usually dominated by the concerns of existing entities.” ~ George Leef

Markets Feed the Poor, Government Creates Them – The Misguided Economics of Pope Francis

“We should be wary of eating the seed corn – but also wary of killing the proverbial goose that lays the golden eggs. The world’s poor deserve no less than the full opportunity of market exchange.” ~ Hannah Mead Kling, Julia R. Norgaard & Nikolai G. Wenzel

How Yellowstone Portrays the American Creed

– December 7, 2022

“The success of the Dutton family depicts the best parts of capitalism (a system based on incentives, trade-offs, and transactions) and the worst parts of cronyism (a system based on rent-seeking for power positions and policy preferences in the political realm).” ~ Kimberlee Josephson

Congress Can Restore the Integrity of the Dollar

– December 7, 2022

“The historical record is clear: Gold-backed money is fully capable of delivering short-run stability and long-run prosperity. The Fed can’t.” ~ David Brat & Alexander William Salter

Forgetful Fauci’s Deposition: All Those Lies Are Hard to Keep Straight

– December 6, 2022

“Fauci’s evasions leave us with more questions than answers – and more clues that he used his position as a top official at a powerful government agency to persecute and suppress dissenting scientific beliefs.” ~ Phillip W. Magness and James R. Harrigan

The Governmentalization of Social Affairs

– December 6, 2022

“More liberty means less government, and less government means less miserableness, servility, fickleness, hypocrisy, denial, mendacity, baseness, and degeneracy. Liberal backbone checks the evil that is the governmentalization of social affairs.” ~ Daniel B. Klein

A Birthday No One Celebrates

– December 6, 2022

“The birth 100 years ago of the USSR is reason to reflect on the indomitable human spirit that cannot be contained by systems of government that do not foster liberty under the rule of law.” ~ Will Sellers

The Free Markets Case You Haven’t Heard About

– December 6, 2022

“More than what’s perceived as a culture-war fight, 303 Creative may have significant implications for the freedom of market participants to develop and sell their own unique talents without government regulation of what they may say.” ~ Cynthia Fleming Crawford

Services-Sector Activity Accelerated in November

– December 5, 2022

“Services-sector survey suggests expansion continued in November, and respondents were generally optimistic. However, the outlook for the economy remains highly uncertain.” ~ Robert Hughes

Unit Auto Sales Fell in November

– December 5, 2022

“Light-vehicle sales fell in November following a rise in inventory and drop in prices in October.” ~ Robert Hughes

Crypto Bad!

– December 5, 2022

“When people say crypto bad, we have first to ask: what specific aspect of the cryptocurrency industry are you talking about? Then the follow-up question must always be: compared to what?” ~ Max Borders

The Malthusian Contradiction

– December 5, 2022

“The truth is that it’s humans who create resources in the first place. When Malthusians point to explosive population growth, they think they are identifying a problem. They are actually identifying the solution.” ~ Antony Davies

Crypto Needs Less Regulation, Not More

– December 5, 2022

“Pushing excessive regulations on the crypto industry is likely to make crypto more risky, not less. Decentralized protocols built on the blockchain are already safer and more transparent than most regulated financial companies.” ~ Thomas L. Hogan

Real Progressives Would Support Bitcoin and the Crypto Economy, Not Regulate It Away

– December 4, 2022

“Using the failures and crimes of politically connected crypto-exchanges like FTX to effectively chill innovation in this sector and regulate it away would deprive many Americans of new economic technology that could change lives for the better.” ~ Yaël Ossowski

Why Business Should Dispense with ESG

– December 4, 2022

“It is not a stretch to imagine how executives could appeal to their higher ESG responsibilities to justify lower returns to investors. Nor is it hard to see companies using these broad ESG commitments to curry favor with political leaders who prioritize specific causes.” ~ Samuel Gregg