Economics and Economic Freedom

A free and prosperous society requires a functioning market economy at its foundation. Using a broad array of tools drawn from price theory, public choice analysis, Austrian theory, and classical empiricism, our study of economics and economic freedom explores the underpinnings of the market system, the roots of economic prosperity, and emerging threats to the same in the public policy sphere. Our work includes the measurement of freedom and providing practical economic information for people to make better decisions.

Articles

Pandemic Pressures Continue to Unwind in Housing

“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

Defining Down Freedom

“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

“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

“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

“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

Special Issue on China

“The United States and China are beginning to compete more closely all around the world, and collisions of interest are occurring more frequently. This issue is dedicated to US-China topics.” ~AIER