Industrial Policy? Try Competition and Entrepreneurship Instead
“The entrepreneurship-plus-competition path to a broader-based American economy in a post-Covid world requires humility about what governments can reasonably do if the goal is to promote diversification of the U.S. economy.” ~ Samuel Gregg
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Can the U.S. Economy Grow Without Immigration?
“While immigration isn’t necessary for U.S. growth so long as the American people are free to exchange with the rest of the world, the rest of the world’s inhabitants would likely be more productive if they worked in the U.S. In short, prosperity made great by work divided globally would be quite a bit greater if more of the work was divided up by those people in the United States. That’s really something to think about.” ~ John Tamny
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Lockdowns Have Depleted Capital in All Forms
“Outside of a major war, it is hard to recall a time when government policies have so seriously roiled business practices, economic structures, and personal lives as much as lockdowns have, not only in the US but all over the world. The consequences will be felt for many years in the future.” ~ Jeffrey Tucker
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What Greta Thunberg Forgets About Climate Change
“Perhaps Greta’s message for politicians to listen to the scientists and take real action has hit home. In one sense, they are already well on the way to following her advice. They read chapter 10 of IPCC’s AR5 report, where they learned that climate change is important – but that other socioeconomic developments matter much more.” ~ Joakim Book
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Why Is There No COVID-19 Life Insurance?
The existence of such insurance would help to quell fears by allowing underinsured households the opportunity to protect their incomes.
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Beware of Happiness Statistics
A recurrent complaint leveled at economists is that income per capita is not a good measure of welfare. In its most refined forms, the complaint is that gross domestic product (GDP) per capita is a poor indicator of well-being. This is why there have b …
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Growth Is Good
In his 2018 book Stubborn Attachments, Tyler Cowen defends a thesis that is likely to be as unpopular as it is misunderstood: over the long run, differences in growth rates swamp just about everything. Therefore, increased economic growth is a moral im …
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Why We are Getting More for Less
Thankfully, capitalism is not wrecking the planet. At least that’s the message in a brand-new book with the stunning title More From Less by Andrew McAfee
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How Kids Create Wealth By Trading Halloween Candy
The post-Halloween candy market is a commercial society of traders buying low and selling high, and it’s a microcosm of what happens when market exchange works well.
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Forests Make a Comeback
The tree cover of the planet is increasing, thanks mostly to increased efficiencies in food production.
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US Economic Performance: A Midyear Assessment
The Trump administration needs to give the economy a dose of the right kind of nothing, relax the trade war antics and stop bashing trade partners, lay off the Fed, and by doing so will give real GDP growth a positive nudge.
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As the U.S. Government Grows, American Prosperity Slows
Look back 150 years (from the end of the Civil War), ignore whatever party or president was dominant, and try to discern a relationship between the size, scope and power of the U.S. federal government and America’s economic growth rate.
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