Daily Economy

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.

AIER’s Editorial Policy.

The Wasteful Cruelty of “Stakeholder Capital”

Jeremy Kidd April 26, 2024

“When institutional investors vote to destroy the wealth of Chevron, they vote to destroy the dreams of single mothers in Wisconsin, pensioners in California, and small business owners in Nebraska.” ~Jeremy Kidd

Is Argentine Disinflation Sustainable?

Nicolas Cachanosky April 26, 2024

“Milei’s lack of political support in Congress adds to the uncertainty surrounding his ability to successfully pass deregulatory reforms… it is premature to declare victory on the fiscal and inflationary fronts in Argentina.” ~Nicolás Cachanosky

Take the Government Out of GDP 

Thomas Savidge April 25, 2024

“Tax revenues are harvested from private citizens by means of coercion and extractive measures… Paying taxes to remain free of incarceration or not face withering financial penalties is hardly indicative of cooperative exchange. ” ~Tom Savidge and Peter C. Earle

Bitcoin Mining and Icelandic Bananas

Joakim Book April 25, 2024

“Stranded energy and unused electricity are magnets for bitcoin miners, as they take electricity that can’t readily be used for other purposes and turn it into one of the world’s most liquid and globally transferable assets.” ~Joakim Book

The New Zimbabwean ZiG: Sixth Time a Charm?

Peter C. Earle April 25, 2024

“Even the most faithfully implemented commodity-backed money standard is fundamentally predicated on the integrity and competence of its overseers.” ~Peter C. Earle

Parity in Labor Transparency

Michael Watson April 24, 2024

“If workers are going to grant a labor union the extensive powers over them that federal law has authorized, workers should be able to know whether the ‘coworkers’ advocating the union are paid representatives of Big Labor. ” ~Michael Watson

Will Caitlin Clark Be Grossly Underpaid?

Art Carden April 23, 2024

“There simply isn’t enough demand for seats at, merchandise related to, and streaming of women’s sports to support WNBA players at NBA salaries.” ~Art Carden

A Better Model Won’t Fix The Fed

Alexander W. Salter April 23, 2024

“The whole point of expectations-responsive monetary policy is to remove the discretionary and technocratic elements from central banking. Disappointingly but unsurprisingly, the Fed is doing the opposite: doubling down on discretion and technocracy.” ~Alexander W. Salter

Why Even Insiders Underestimate Markets’ Power

Gary Galles April 23, 2024

“There tend to be more and better substitution possibilities known to both buyers and sellers than we recognize from the outside of those exchange relationships.” ~Gary M. Galles

Competition Can’t Be Perfect

Michael Munger April 22, 2024

“Since if something is perfect, it must be desirable, a new generation of attorneys is attempting a wholesale takeover of antitrust enforcement.” ~Michael Munger

Breaking the Shackles of Socialism in Africa 

Marcus Witcher April 22, 2024

“A new generation of Africans (Wade labels them the Cheetah Generation) are rejecting socialism and embracing entrepreneurship and markets as the path to human flourishing.” ~Marcus Witcher

Business Conditions Monthly February 2024

Peter C. Earle April 19, 2024

“Amidst mixed economic data reminiscent of most of the past two years, there are pockets of strength which are nevertheless overshadowed by inflation concerns and speculation regarding monetary policy actions in the coming quarter or two.” ~Peter C. Earle

Elon’s X Marks the Spot in Brazil

Ricardo Gomes April 19, 2024

“Brazil is facing its greatest struggle for freedom of speech since the end of the military regime… Freedom of speech has been effectively limited without due process, and contrary to the Constitution.” ~Ricardo Gomes

Why Haven’t We Whipped Inflation Yet?

Alexander W. Salter April 19, 2024

“The best we can do is recalibrate models when we get new data. But that’s like driving the car while looking out the rearview window…hardly ideal for knowing how to adjust your steering.” ~Alexander W. Salter

Nippon Acquisition of US Steel 

Joel Griffith April 18, 2024

“Despite its shrunken condition, the Japanese suitor looks to infuse new life into this former behemoth with an infusion of cash, technology, and vision. Blocking this acquisition will result in losses to shareholders, workers, and our economy.” ~Joel Griffith

ESG Puppeteers

Paul Mueller April 18, 2024

“Climate financiers are not capitalists. They are corporatists who think the government should direct private industry. They want to work with government officials to benefit themselves and hamstring their competition.” ~ Paul Mueller

The Colorblind Counterattack

GianCarlo Canaparo April 17, 2024

“How on earth could the ideas of Frederick Douglass and MLK find themselves labeled ‘white supremacist’? Two authors have shaken off the shellshock, and now stand ready to fight back.” ~GianCarlo​​​​ Canaparo

The Wasteful Cruelty of “Stakeholder Capital”

Jeremy Kidd April 26, 2024

“When institutional investors vote to destroy the wealth of Chevron, they vote to destroy the dreams of single mothers in Wisconsin, pensioners in California, and small business owners in Nebraska.” ~Jeremy Kidd

Is Argentine Disinflation Sustainable?

Nicolas Cachanosky April 26, 2024

“Milei’s lack of political support in Congress adds to the uncertainty surrounding his ability to successfully pass deregulatory reforms… it is premature to declare victory on the fiscal and inflationary fronts in Argentina.” ~Nicolás Cachanosky

Take the Government Out of GDP 

Thomas Savidge April 25, 2024

“Tax revenues are harvested from private citizens by means of coercion and extractive measures… Paying taxes to remain free of incarceration or not face withering financial penalties is hardly indicative of cooperative exchange. ” ~Tom Savidge and Peter C. Earle

Bitcoin Mining and Icelandic Bananas

Joakim Book April 25, 2024

“Stranded energy and unused electricity are magnets for bitcoin miners, as they take electricity that can’t readily be used for other purposes and turn it into one of the world’s most liquid and globally transferable assets.” ~Joakim Book

The New Zimbabwean ZiG: Sixth Time a Charm?

Peter C. Earle April 25, 2024

“Even the most faithfully implemented commodity-backed money standard is fundamentally predicated on the integrity and competence of its overseers.” ~Peter C. Earle

Parity in Labor Transparency

Michael Watson April 24, 2024

“If workers are going to grant a labor union the extensive powers over them that federal law has authorized, workers should be able to know whether the ‘coworkers’ advocating the union are paid representatives of Big Labor. ” ~Michael Watson

Will Caitlin Clark Be Grossly Underpaid?

Art Carden April 23, 2024

“There simply isn’t enough demand for seats at, merchandise related to, and streaming of women’s sports to support WNBA players at NBA salaries.” ~Art Carden

A Better Model Won’t Fix The Fed

Alexander W. Salter April 23, 2024

“The whole point of expectations-responsive monetary policy is to remove the discretionary and technocratic elements from central banking. Disappointingly but unsurprisingly, the Fed is doing the opposite: doubling down on discretion and technocracy.” ~Alexander W. Salter

Why Even Insiders Underestimate Markets’ Power

Gary Galles April 23, 2024

“There tend to be more and better substitution possibilities known to both buyers and sellers than we recognize from the outside of those exchange relationships.” ~Gary M. Galles

Competition Can’t Be Perfect

Michael Munger April 22, 2024

“Since if something is perfect, it must be desirable, a new generation of attorneys is attempting a wholesale takeover of antitrust enforcement.” ~Michael Munger

Breaking the Shackles of Socialism in Africa 

Marcus Witcher April 22, 2024

“A new generation of Africans (Wade labels them the Cheetah Generation) are rejecting socialism and embracing entrepreneurship and markets as the path to human flourishing.” ~Marcus Witcher

Business Conditions Monthly February 2024

Peter C. Earle April 19, 2024

“Amidst mixed economic data reminiscent of most of the past two years, there are pockets of strength which are nevertheless overshadowed by inflation concerns and speculation regarding monetary policy actions in the coming quarter or two.” ~Peter C. Earle

Elon’s X Marks the Spot in Brazil

Ricardo Gomes April 19, 2024

“Brazil is facing its greatest struggle for freedom of speech since the end of the military regime… Freedom of speech has been effectively limited without due process, and contrary to the Constitution.” ~Ricardo Gomes

Why Haven’t We Whipped Inflation Yet?

Alexander W. Salter April 19, 2024

“The best we can do is recalibrate models when we get new data. But that’s like driving the car while looking out the rearview window…hardly ideal for knowing how to adjust your steering.” ~Alexander W. Salter

Nippon Acquisition of US Steel 

Joel Griffith April 18, 2024

“Despite its shrunken condition, the Japanese suitor looks to infuse new life into this former behemoth with an infusion of cash, technology, and vision. Blocking this acquisition will result in losses to shareholders, workers, and our economy.” ~Joel Griffith

ESG Puppeteers

Paul Mueller April 18, 2024

“Climate financiers are not capitalists. They are corporatists who think the government should direct private industry. They want to work with government officials to benefit themselves and hamstring their competition.” ~ Paul Mueller

The Colorblind Counterattack

GianCarlo Canaparo April 17, 2024

“How on earth could the ideas of Frederick Douglass and MLK find themselves labeled ‘white supremacist’? Two authors have shaken off the shellshock, and now stand ready to fight back.” ~GianCarlo​​​​ Canaparo