Daily Economy
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Born Unequal: Pondering the Natural Lottery
“Maybe I’m just a dreamer. But I think nonviolence and compassion can motivate a million acts of kindness towards those born with less.” ~ Max Borders
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Core Retail Sales Post a Strong Gain in August
“Retail sales rose in August with core retail sales particularly strong. Resilient consumer spending is a positive for the outlook but Covid is sustaining an elevated level of uncertainty.” – Robert Hughes
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Weekly Initial Claims for Unemployment Benefits Rose but the Four-Week Average Fell
“Weekly initial claims for unemployment benefits rose in the latest week but the trend remains lower. A tight labor market and a record number of open jobs should support the downward trend, but waves of new Covid cases will continue to boost uncertainty for the economic outlook.” – Robert Hughes
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China’s Export Subsidies Are a Gift
“Misguided retaliation that would eliminate the advantages that cheaper Chinese goods offer would result in unnecessary self-inflicted costs and forgone benefits to the American economy.” ~ Theodore A. Gebhard
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Hating Landlords Misplaces the Blame
“In greedy-bastard economics, rather than tracing their understanding of something they dislike back to its ultimate source, people only trace it back until they get to someone they can demonize as a greedy bastard.” ~ Gary M. Galles
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Review of Ola Innset, Reinventing Liberalism
“Reinventing Liberalism is alternately fascinating and frustrating. At the end of the day, however, Innset has given us a serviceable introduction to neoliberalism and a novel interpretation of its program, and those by themselves make the book worth considering.” ~ Art Carden
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Test of Time: The Most Important Failure of US Covid Response
“It is becoming clear that the U.S. failure to yoke up with the private sector is the most important, but least-commented on, failure of Covid response overall.” ~ Michael Munger
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Uncle Sam’s Hamartia = Your Early Death
“Public health bureaucrats simply have no incentive to keep Americans healthy. Their budgets are misallocated and will continue to be so until their incentives are better aligned with those of American citizens.” ~ Robert E. Wright
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Red Light Robberies Across America
“‘Taxation by citation’ is a license for bureaucratic tyranny. How much longer will local politicians be permitted to plunder drivers and subvert safety with impunity?” ~ James Bovard
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How Experts Can Fail Even When They Are Right
“Like experts on energy efficiency don’t know where to set your thermostat, experts on health risks don’t know which bundle of risks and precautions is the right one given your goals and values.” ~ Art Carden
-
•
Born Unequal: Pondering the Natural Lottery
“Maybe I’m just a dreamer. But I think nonviolence and compassion can motivate a million acts of kindness towards those born with less.” ~ Max Borders
-
•
Core Retail Sales Post a Strong Gain in August
“Retail sales rose in August with core retail sales particularly strong. Resilient consumer spending is a positive for the outlook but Covid is sustaining an elevated level of uncertainty.” – Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Rose but the Four-Week Average Fell
“Weekly initial claims for unemployment benefits rose in the latest week but the trend remains lower. A tight labor market and a record number of open jobs should support the downward trend, but waves of new Covid cases will continue to boost uncertainty for the economic outlook.” – Robert Hughes
-
•
China’s Export Subsidies Are a Gift
“Misguided retaliation that would eliminate the advantages that cheaper Chinese goods offer would result in unnecessary self-inflicted costs and forgone benefits to the American economy.” ~ Theodore A. Gebhard
-
•
Hating Landlords Misplaces the Blame
“In greedy-bastard economics, rather than tracing their understanding of something they dislike back to its ultimate source, people only trace it back until they get to someone they can demonize as a greedy bastard.” ~ Gary M. Galles
-
•
Review of Ola Innset, Reinventing Liberalism
“Reinventing Liberalism is alternately fascinating and frustrating. At the end of the day, however, Innset has given us a serviceable introduction to neoliberalism and a novel interpretation of its program, and those by themselves make the book worth considering.” ~ Art Carden
-
•
Test of Time: The Most Important Failure of US Covid Response
“It is becoming clear that the U.S. failure to yoke up with the private sector is the most important, but least-commented on, failure of Covid response overall.” ~ Michael Munger
-
•
Uncle Sam’s Hamartia = Your Early Death
“Public health bureaucrats simply have no incentive to keep Americans healthy. Their budgets are misallocated and will continue to be so until their incentives are better aligned with those of American citizens.” ~ Robert E. Wright
-
•
Red Light Robberies Across America
“‘Taxation by citation’ is a license for bureaucratic tyranny. How much longer will local politicians be permitted to plunder drivers and subvert safety with impunity?” ~ James Bovard
-
•
How Experts Can Fail Even When They Are Right
“Like experts on energy efficiency don’t know where to set your thermostat, experts on health risks don’t know which bundle of risks and precautions is the right one given your goals and values.” ~ Art Carden