Daily Economy
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Unit Auto Sales Rose in June, but Remain Weak
“Light-vehicle sales rose in June but remain well below pre-pandemic ranges. Assemblies fell in May as component shortages continue to restrain production. Inventory shows signs of stabilization recently, but prices continued to rise.” ~ Robert Hughes
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The USFL and Labor Markets
“Since many kids dream of being pro athletes and sports generate billions in revenue, voluntary participation is not a problem. But sports generate enormous rents and competition to capture these rents ensures enduring strife between labor and management.” ~ Daniel Sutter
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Strike Three for the Federal Reserve
“No batter always gets on base but America, nay the world, has a high-quality pinch hitter that it benched a century ago: the Gold Standard. It’s not perfect but it is far better, and fairer, than the Fed.” ~ Robert E. Wright
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Washington’s Budget Deficits: Size and Composition Matter
“Since entitlements are off the table under threats of touching ‘the third rail of politics,’ then proponents of fiscal discipline have been trying to reform and constrain an ever-smaller portion of the overall budget.” ~ Peter T. Calcagno & Edward J. Lopez
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Happy Birthday, America; Now Mind How You Go
“America the Beautiful, I wish you a happy birthday. I thank you for your generosity over these decades, and I say sincerely, ‘Mind how you go.’ The world needs your seeking to be fair and just, and full of possibility, not divided and rancorous, and a threat to yourself.” ~ Llewellyn King
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Four Amazing Differences
“What causes the great and overwhelmingly successful coordination across the globe of the productive efforts of billions of strangers? And why is this coordination so silent and incessant that we take it for granted? We hardly notice it.” ~ Donald J. Boudreaux
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Five Ways Minimum Wage Studies Fail
“We’d all do well to keep these five points in mind the next time we see a study touting that when it comes to the minimum wage there is, in fact, a free lunch.” ~ Caleb S. Fuller
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From Victims to Pawns: New York’s About-Face on Marijuana
“Politicians’ sudden moral awakening would be much more believable if their efforts sought to deliver maximum benefit to the people they harmed rather than to deliver maximum benefit to the political class under the guise of helping their former victims.” ~ Antony Davies
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Market Solutions to Ancient Sins
“Ferguson and Witcher make persuasive arguments in favor of the classical liberal narrative about black history, and they also provide valuable summaries of and introductions to the work of other important classical liberal and libertarian scholars on race.” ~ Jason Jewell
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Manufacturing-Sector Survey Suggests Slowing Growth and Slightly Fewer Price Pressures
“The latest manufacturing survey suggests supply and demand may be moving closer to balance. However, persistently elevated price increases and an intensifying Fed policy tightening cycle remain risks to the outlook.” ~ Robert Hughes
-
•
Unit Auto Sales Rose in June, but Remain Weak
“Light-vehicle sales rose in June but remain well below pre-pandemic ranges. Assemblies fell in May as component shortages continue to restrain production. Inventory shows signs of stabilization recently, but prices continued to rise.” ~ Robert Hughes
-
•
The USFL and Labor Markets
“Since many kids dream of being pro athletes and sports generate billions in revenue, voluntary participation is not a problem. But sports generate enormous rents and competition to capture these rents ensures enduring strife between labor and management.” ~ Daniel Sutter
-
•
Strike Three for the Federal Reserve
“No batter always gets on base but America, nay the world, has a high-quality pinch hitter that it benched a century ago: the Gold Standard. It’s not perfect but it is far better, and fairer, than the Fed.” ~ Robert E. Wright
-
•
Washington’s Budget Deficits: Size and Composition Matter
“Since entitlements are off the table under threats of touching ‘the third rail of politics,’ then proponents of fiscal discipline have been trying to reform and constrain an ever-smaller portion of the overall budget.” ~ Peter T. Calcagno & Edward J. Lopez
-
•
Happy Birthday, America; Now Mind How You Go
“America the Beautiful, I wish you a happy birthday. I thank you for your generosity over these decades, and I say sincerely, ‘Mind how you go.’ The world needs your seeking to be fair and just, and full of possibility, not divided and rancorous, and a threat to yourself.” ~ Llewellyn King
-
•
Four Amazing Differences
“What causes the great and overwhelmingly successful coordination across the globe of the productive efforts of billions of strangers? And why is this coordination so silent and incessant that we take it for granted? We hardly notice it.” ~ Donald J. Boudreaux
-
•
Five Ways Minimum Wage Studies Fail
“We’d all do well to keep these five points in mind the next time we see a study touting that when it comes to the minimum wage there is, in fact, a free lunch.” ~ Caleb S. Fuller
-
•
From Victims to Pawns: New York’s About-Face on Marijuana
“Politicians’ sudden moral awakening would be much more believable if their efforts sought to deliver maximum benefit to the people they harmed rather than to deliver maximum benefit to the political class under the guise of helping their former victims.” ~ Antony Davies
-
•
Market Solutions to Ancient Sins
“Ferguson and Witcher make persuasive arguments in favor of the classical liberal narrative about black history, and they also provide valuable summaries of and introductions to the work of other important classical liberal and libertarian scholars on race.” ~ Jason Jewell
-
•
Manufacturing-Sector Survey Suggests Slowing Growth and Slightly Fewer Price Pressures
“The latest manufacturing survey suggests supply and demand may be moving closer to balance. However, persistently elevated price increases and an intensifying Fed policy tightening cycle remain risks to the outlook.” ~ Robert Hughes