Daily Economy
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The Future Will Be Flatter than Ever
“Thomas Friedman declared in his 2005 book The World is Flat, that the world is flat. This “flattening” (or leveling of the playing field, as we might think of it) continues today in radically new ways that Friedman may not have imagined.” ~ Emile Phaneuf
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Private Payrolls Add 406,000 Jobs in April
“Payroll gains remained strong in April, providing support for growth. However, sustained price pressures, a new Fed tightening cycle, the Russian invasion of Ukraine, and renewed lockdowns in China are significant risks for the economy.” ~ Robert Hughes
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Betting on Social Media
“MIBM platforms don’t need thought police or feckless fact checkers, they need to enable the types of nonviolent signals and claims markets long found in taverns. The recent easing of gambling laws in many states will help.” ~ Robert E. Wright
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The Campus of Sacred Feelings
“To feel is easy and convenient, whereas to think (the prerequisite for public discourse) requires strenuous effort while bringing enormous discomfort because the mind will be unsettled.” ~ Habi Zhang
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Weekly Initial Claims Hit an Eleven-Week High but Remain Below the Pre-Pandemic Level
“Weekly initial claims rose to the highest level since February but continue to suggest a very tight labor market. However, the Russian invasion of Ukraine, renewed lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes
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Unit Auto Sales Rose in April, but Remain Low
“Light-vehicle sales rose in April but remain well below pre-pandemic ranges. Assemblies rose in March, but component shortages continue to restrain production. Inventory and prices show signs of stabilization recently, though at extreme levels.” ~ Robert Hughes
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Services-Sector Survey Suggests Continued Price Pressures and Perhaps Some Weakening in Demand
“Services-sector expansion continued in April, but labor and materials shortages are sustaining price pressures. The Russian invasion of Ukraine, lockdowns in China, and Fed tightening are threats to the economy.” ~ Robert Hughes
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The PFAS Packaging Predicament: McDonald’s Isn’t Loving It
“Experimentation is necessary for firms to advance their offerings, which can lead to an improved society. Consumers should be wary of using the power of the courts rather than the power of their purse to influence business practices.” ~ Kimberlee Josephson
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AOL, Elon Musk, and Twitter
“Nothing lasts forever. What’s true applies to Twitter. To pretend that so much importance can be derived from one company and its owner is just childish, and it insults the greatest country on earth.” ~ John Tamny
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David Theroux: Gentleman, Scholar, Entrepreneur
“David Theroux was a gentleman and a scholar. He founded the Independent Institute where he reached millions through scholarship, commentary, publishing, and media.” ~ Ryan M. Yonk & David Waugh
-
•
The Future Will Be Flatter than Ever
“Thomas Friedman declared in his 2005 book The World is Flat, that the world is flat. This “flattening” (or leveling of the playing field, as we might think of it) continues today in radically new ways that Friedman may not have imagined.” ~ Emile Phaneuf
-
•
Private Payrolls Add 406,000 Jobs in April
“Payroll gains remained strong in April, providing support for growth. However, sustained price pressures, a new Fed tightening cycle, the Russian invasion of Ukraine, and renewed lockdowns in China are significant risks for the economy.” ~ Robert Hughes
-
•
Betting on Social Media
“MIBM platforms don’t need thought police or feckless fact checkers, they need to enable the types of nonviolent signals and claims markets long found in taverns. The recent easing of gambling laws in many states will help.” ~ Robert E. Wright
-
•
The Campus of Sacred Feelings
“To feel is easy and convenient, whereas to think (the prerequisite for public discourse) requires strenuous effort while bringing enormous discomfort because the mind will be unsettled.” ~ Habi Zhang
-
•
Weekly Initial Claims Hit an Eleven-Week High but Remain Below the Pre-Pandemic Level
“Weekly initial claims rose to the highest level since February but continue to suggest a very tight labor market. However, the Russian invasion of Ukraine, renewed lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes
-
•
Unit Auto Sales Rose in April, but Remain Low
“Light-vehicle sales rose in April but remain well below pre-pandemic ranges. Assemblies rose in March, but component shortages continue to restrain production. Inventory and prices show signs of stabilization recently, though at extreme levels.” ~ Robert Hughes
-
•
Services-Sector Survey Suggests Continued Price Pressures and Perhaps Some Weakening in Demand
“Services-sector expansion continued in April, but labor and materials shortages are sustaining price pressures. The Russian invasion of Ukraine, lockdowns in China, and Fed tightening are threats to the economy.” ~ Robert Hughes
-
•
The PFAS Packaging Predicament: McDonald’s Isn’t Loving It
“Experimentation is necessary for firms to advance their offerings, which can lead to an improved society. Consumers should be wary of using the power of the courts rather than the power of their purse to influence business practices.” ~ Kimberlee Josephson
-
•
AOL, Elon Musk, and Twitter
“Nothing lasts forever. What’s true applies to Twitter. To pretend that so much importance can be derived from one company and its owner is just childish, and it insults the greatest country on earth.” ~ John Tamny
-
•
David Theroux: Gentleman, Scholar, Entrepreneur
“David Theroux was a gentleman and a scholar. He founded the Independent Institute where he reached millions through scholarship, commentary, publishing, and media.” ~ Ryan M. Yonk & David Waugh