Category: Economics

Law professor Zephyr Teachout at a Labor Day event in New York City. 2014. In a recent Atlantic article titled “Sometimes You Just Have to Ignore the Economists,” law professor Zephyr Teachout castigates economists for their nigh-universal denouncing of Vice President and now presidential nominee Kamala Harris’s plan to impose nationwide anti-”price-gouging” laws on groceries. Teachout’s…

Read More “Resource Allocation: Why You Can’t ‘Just Ignore the Economists’” »

Erec Smith Much has been made about the post–affirmative action dip in college acceptance rates among black students, especially at elite institutions like the Massachusetts Institute of Technology (MIT), where black student acceptance dropped from 15 percent of last year’s class to only 5 percent of this year’s entrants. The hullabaloo is understandable; this drop confirms the…

Read More “What Are the Black Students Still Getting into Ivy League Schools Doing Right?” »

Chris Edwards Climate change may increase the frequency of hurricanes that batter coastal regions. In discussing renewable energy and climate change the other day, the Wall Street Journal reported: “Sticking with fossil fuels risks worsening countries’ vulnerability to climate change. The Philippines—which plans to use more gas and renewables—is frequently hit by floods and cyclones…

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Despite being touted as a responsible and sophisticated framework for business and investment, Environmental, Social, and Governance (ESG) criteria lack logical cohesion and internal consistency. Conceptually, no reason exists for why the fundamental ideas within the ESG label should correlate with one another. For instance, social criteria regarding diversity, equity, and inclusion often undercut environmental…

Read More “The Incoherence of ESG: Why We Should Disaggregate the Environmental, Social, and Governance Label” »

The Tulip is one of the most iconic and beloved flowers in the world, known for its vibrant colors, elegant shape, and deep-rooted connection to springtime. From fields of Tulip blooms that stretch as far as the eye can see to delicate bouquets that brighten homes, the Tulip captures the essence of renewal, beauty, and…

Read More “Embrace The Vibrant Elegance And Timeless Charm Of Spring’s Favorite Flower »” »

Adam N. Michel and Joshua Loucks About 5 million taxpayers pay, on average, $6 million in penalties each year for spending their retirement savings earlier than the government prescribed. These penalties make lower-income Americans financially worse off and discourage others from saving at all. Universal savings accounts (USAs) fix this problem. They would give more…

Read More “The Penalty on American Savers and How USAs Fix It” »

Matt Walsh illuminates an industry of absurdity in his new film from The Daily Wire. 2024. In his popular 1971 book Rules for Radicals, Saul D. Alinsky identified ridicule as the most potent of all political weapons.  “There is no defense. It is almost impossible to counterattack ridicule,” said Alinsky, a Chicago-based community organizer and…

Read More “‘Am I a Racist?’ Packs a Potent Political Punch: Ridicule” »

Vice President and Candidate Kamala Harris at a Medicare drug pricing announcement. 2024. Although the inflation outlook has improved, it is still very much in the news. Although the rate of increase has slowed, prices remain more than 20 percent above what they were four years ago. At the same time, most analysts understand that…

Read More “The Greed Theory of Inflation and the Cowardice of Economists” »

A folded $100 bill on a sponge, demonstrating the concept of a soft landing. In July 2024, the AIER Business Conditions Monthly indicators were mixed. The Leading Indicator edged up slightly as both the Roughly Coincident and Lagging Indicators contracted. The Leading Indicator inched up from 54 to a mildly expansionary level of 58, while…

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A statue of Thomas Jefferson looking unimpressed in front of the Cuyahoga County Courthouse in Cleveland, Ohio. 2022. Only four percent  “of US adults say the political system is working extremely or very well.” Sixty-five percent say we “always or often feel exhausted when thinking about politics.” Yet, we keep doubling down, thinking that more…

Read More “Principles are the Antidote to Politics ” »