Daily Economy
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Weekly Initial Claims for Unemployment Insurance Remain Stable
“Weekly initial claims fell, and the low level suggests the labor market remains tight. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
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Taxes, Special Privileges, and “Private Enterprise”
“Income, corporation, and capital-gains taxes are taxes on the general welfare. Also harmful to the public welfare are protective tariffs and similar restrictions on how people may peacefully spend their own money.” ~ Donald J. Boudreaux
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Let Them Compete: Labor Markets Are Workers’ Friends, Not Their Enemies
“Workers compete with one another for jobs, but firms compete with one another for workers. When people are allowed to compete, one’s folly becomes another’s opportunity.” ~ Art Carden
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Can We Have Welfare Without the Threat of Violence?
“The mutual aid sector is due for a renaissance. It might seem radical, but charity and mutual aid systems create more trust, engender more integrity, and offer greater responsibility.” ~ Max Borders
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Motor Vehicle Production Boosts Manufacturing Output in October
“Industrial-sector output fell in October though motor vehicle production rose. Elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
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Retail Spending Was Strong in October
“Retail spending was strong in October, but the recent inflation-adjusted trend remains weak. Threats to the economy remain significant, and risks remain elevated. Caution is warranted.” ~ Robert Hughes
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Progressive Politics Prevail Over Economic Freedom
“Although some elections remain to be called, the overall picture is clear. American voters did not clearly repudiate the illiberal, progressive collectivist policies adopted at the state and national levels since March 2020.” ~ Robert E. Wright
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Beware the Incentives of “Forgiving” Student Loan Debt
“The stark reality is that ‘forgiving student debt’ really means forcing people who didn’t go to college to pay for those who did, and forcing people who scrimped and saved for college to pay for those who didn’t. ” ~ Antony Davies & James R. Harrigan
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Das Karl Marx Problem
“How do we reconcile the decisive and early rejection of Marx’s economic theories after the Marginal Revolution with the high acclaim that those same theories enjoy among intellectuals today, albeit almost entirely outside of the economics profession?” ~ Phillip W. Magness & Michael Makovi
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The False Face of SBF, FTX, and ESG
“For FTX and ESG, beneath a surface of virtue signaling and noblesse oblige are decidedly less-idealistic machinations: fraud, rent-seeking, influence-buying, and greenwash.” ~ Peter C. Earle
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•
Weekly Initial Claims for Unemployment Insurance Remain Stable
“Weekly initial claims fell, and the low level suggests the labor market remains tight. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
-
•
Taxes, Special Privileges, and “Private Enterprise”
“Income, corporation, and capital-gains taxes are taxes on the general welfare. Also harmful to the public welfare are protective tariffs and similar restrictions on how people may peacefully spend their own money.” ~ Donald J. Boudreaux
-
•
Let Them Compete: Labor Markets Are Workers’ Friends, Not Their Enemies
“Workers compete with one another for jobs, but firms compete with one another for workers. When people are allowed to compete, one’s folly becomes another’s opportunity.” ~ Art Carden
-
•
Can We Have Welfare Without the Threat of Violence?
“The mutual aid sector is due for a renaissance. It might seem radical, but charity and mutual aid systems create more trust, engender more integrity, and offer greater responsibility.” ~ Max Borders
-
•
Motor Vehicle Production Boosts Manufacturing Output in October
“Industrial-sector output fell in October though motor vehicle production rose. Elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
-
•
Retail Spending Was Strong in October
“Retail spending was strong in October, but the recent inflation-adjusted trend remains weak. Threats to the economy remain significant, and risks remain elevated. Caution is warranted.” ~ Robert Hughes
-
•
Progressive Politics Prevail Over Economic Freedom
“Although some elections remain to be called, the overall picture is clear. American voters did not clearly repudiate the illiberal, progressive collectivist policies adopted at the state and national levels since March 2020.” ~ Robert E. Wright
-
•
Beware the Incentives of “Forgiving” Student Loan Debt
“The stark reality is that ‘forgiving student debt’ really means forcing people who didn’t go to college to pay for those who did, and forcing people who scrimped and saved for college to pay for those who didn’t. ” ~ Antony Davies & James R. Harrigan
-
•
Das Karl Marx Problem
“How do we reconcile the decisive and early rejection of Marx’s economic theories after the Marginal Revolution with the high acclaim that those same theories enjoy among intellectuals today, albeit almost entirely outside of the economics profession?” ~ Phillip W. Magness & Michael Makovi
-
•
The False Face of SBF, FTX, and ESG
“For FTX and ESG, beneath a surface of virtue signaling and noblesse oblige are decidedly less-idealistic machinations: fraud, rent-seeking, influence-buying, and greenwash.” ~ Peter C. Earle