Daily Economy
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Recessions and Economic Freedom
“This global retreat in economic freedom is worrisome. It means that economic crises are going to be longer and more painful. Thus, they are more likely to result in political backlash. Defenders of economic freedom should bear this in mind when they emphasize how important that freedom is.” ~ Vincent Geloso
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In Defense of “Junk” Fees
“The incremental fees associated with the great plethora of goods and services at our fingertips are an essential prerequisite to satisfying consumer demand. Their abolishment, whether by prohibition or concealment via aggregation, will prove consequential.” ~ Peter C. Earle
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Biden’s “Buy American” Scheme a Bad Deal for America
“Paying more to produce goods domestically that could be acquired cheaper from elsewhere, wastes resources, kills jobs in other industries, and makes us poorer as a result.” ~ Brian Balfour
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The Federal Reserve Accountability Act in Light of 333 Years of American Experiments
“By making the Fed so much more controlled by Washington, and removing even the appearance of private-sector influence, the proposed amendment could fatally weaken the Fed’s political legitimacy.” ~ Dror Goldberg
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A Tale of Two Realities
“The media’s incentive is to tell us the portion of the truth that is entertaining. And what we have demonstrated by our behavior is that bad news entertains us.” ~ Antony Davies
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An Economics Pop Quiz
“Here’s a pop quiz. Some questions are conceptual, others ask about particular facts. The correct answers are supplied at the end. (But don’t cheat by peeking beforehand at the answers!) Good luck!” ~ Donald J. Boudreaux
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What’s Up (and Down) With the Economy?
“I would keep my eye on the LEI (and AIER’s equivalent) but pay special attention to the manufacturing variables. Outside of the LEI, I would also carefully watch real wage trends and its downstream knockoffs (credit card and other debt and defaults, and the personal savings rate).” ~ Robert E. Wright
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AIER’s Everyday Price Index Increases Nearly 1% in January 2023
“AIER’s Everyday Price rose 0.93 percent in January, following a decline of 1.3 percent in December 2022. Some persistently high and rising prices amid a slowing and uneven deflation is likely to raise the Fed’s terminal policy rate and increase the risk of recession in the next 24 months.” ~ Peter C. Earle
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Now the Education Department Wants To Make It Even Easier on Students Who Have Borrowed for College
“Student borrowers will pay substantially less than before. The Department justifies this by saying that many are struggling with their loan repayments. Some are, but why should the government shield them from the consequences of bad decisions?” ~ George Leef
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A Canadian Lesson About School Choice and Its Potential To Reduce Socioeconomic Disparities in the United States
“The long-documented black/white differences in returns from schooling, which are similar to those observed between French and English speakers in Quebec pre-1940, could begin to recede.” ~ Vincent Geloso
-
•
Recessions and Economic Freedom
“This global retreat in economic freedom is worrisome. It means that economic crises are going to be longer and more painful. Thus, they are more likely to result in political backlash. Defenders of economic freedom should bear this in mind when they emphasize how important that freedom is.” ~ Vincent Geloso
-
•
In Defense of “Junk” Fees
“The incremental fees associated with the great plethora of goods and services at our fingertips are an essential prerequisite to satisfying consumer demand. Their abolishment, whether by prohibition or concealment via aggregation, will prove consequential.” ~ Peter C. Earle
-
•
Biden’s “Buy American” Scheme a Bad Deal for America
“Paying more to produce goods domestically that could be acquired cheaper from elsewhere, wastes resources, kills jobs in other industries, and makes us poorer as a result.” ~ Brian Balfour
-
•
The Federal Reserve Accountability Act in Light of 333 Years of American Experiments
“By making the Fed so much more controlled by Washington, and removing even the appearance of private-sector influence, the proposed amendment could fatally weaken the Fed’s political legitimacy.” ~ Dror Goldberg
-
•
A Tale of Two Realities
“The media’s incentive is to tell us the portion of the truth that is entertaining. And what we have demonstrated by our behavior is that bad news entertains us.” ~ Antony Davies
-
•
An Economics Pop Quiz
“Here’s a pop quiz. Some questions are conceptual, others ask about particular facts. The correct answers are supplied at the end. (But don’t cheat by peeking beforehand at the answers!) Good luck!” ~ Donald J. Boudreaux
-
•
What’s Up (and Down) With the Economy?
“I would keep my eye on the LEI (and AIER’s equivalent) but pay special attention to the manufacturing variables. Outside of the LEI, I would also carefully watch real wage trends and its downstream knockoffs (credit card and other debt and defaults, and the personal savings rate).” ~ Robert E. Wright
-
•
AIER’s Everyday Price Index Increases Nearly 1% in January 2023
“AIER’s Everyday Price rose 0.93 percent in January, following a decline of 1.3 percent in December 2022. Some persistently high and rising prices amid a slowing and uneven deflation is likely to raise the Fed’s terminal policy rate and increase the risk of recession in the next 24 months.” ~ Peter C. Earle
-
•
Now the Education Department Wants To Make It Even Easier on Students Who Have Borrowed for College
“Student borrowers will pay substantially less than before. The Department justifies this by saying that many are struggling with their loan repayments. Some are, but why should the government shield them from the consequences of bad decisions?” ~ George Leef
-
•
A Canadian Lesson About School Choice and Its Potential To Reduce Socioeconomic Disparities in the United States
“The long-documented black/white differences in returns from schooling, which are similar to those observed between French and English speakers in Quebec pre-1940, could begin to recede.” ~ Vincent Geloso