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Auto Sales Rebound in May While Factory Orders Fell in April
Auto sales rose in May, and weekly data suggest consumer spending is solid. However, factory orders were weak in April. Currently, there is little hard data to suggest a recession is imminent. The outlook remains cautiously optimistic.
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The Real Issue in Tech Antitrust: Where’s the Harm?
No matter one’s opinions on antitrust and big business, arguing that the big tech companies’ primary impact on our economy and lives has been anything but positive and even revolutionary is difficult.
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Democracy and the Toxic Metastasizing of a Sound Idea
Because the American government is democratically elected, there’s a widespread presumption that the actions of this government are, as a rule, the best ones possible. Yet this presumption is mistaken.
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What Preferences Do You Want?
What preferences do you want? In traditional neoclassical economics, that’s a nonsense question, because preferences are taken as idiosyncratic, fixed, and exogenous. Of course, that’s only a modeling assumption; no one really claims that’s descriptively accurate.
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U.S. Dollar Supremacy Could Quickly Fade
The greatest risk to the US dollar may, in fact, come from within. The imposition of tariffs and sanctions create an opportunity for other countries to engage in bilateral trade. The decision to withdraw from the free trade initiatives such as the TPP and T-TIP weakens not only the prospects for US trade but also the preeminent position of the US dollar.
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