As the COVID-19 catastrophe unfolded, the Federal Reserve intervened swiftly in financial markets. Many praise the Fed’s response, including its new role as the “market maker of last resort.” Others are impressed the Fed steered clear of politics during the crisis. The Fed demonstrates what an effective and independent central bank can accomplish, its defenders … Continue reading The Federal Reserve Is Both Too Politicized and Too Powerful
Category: Economy
California dreaming? Nothing wrong with that. The Golden State has a lot to offer. California has the fifth largest economy in the world. The San Francisco Bay Area alone has a GDP of $535 billion and ranks 19th in the world in economic activity. The state boasts one of the largest agricultural industries on the … Continue reading Celebrities (Besides Joe Rogan) Who Said Goodbye to California
Congress isn’t known for learning from its mistakes. So, it’s not exactly shocking that despite the many failures of their last effort, lawmakers from both parties are pushing for another massive relief bill to stimulate the economy amid COVID-19 and the continued economic fallout. The GOP has at least expressed a desire to keep the … Continue reading Hey Congress: Here’s One Economic Stimulus Proposal That Wouldn’t Cost Taxpayers Trillions
Elon Musk dropped an economic truth bomb on Joe Rogan’s podcast a couple of months ago. “If you don’t make stuff, there’s no stuff.” Obvious? You’d think so. But, as Musk pointed out, our economic policies throughout the COVID-19 pandemic have ignored that simple truth. The prevailing assumption is that the government can press “pause” … Continue reading Elon Musk’s Economic Truth Bomb to Joe Rogan
COVID-19 has altered almost every facet of our lives. And it doesn’t seem to be done yet. The latest trick from up COVID-19’s sleeve? A national coin shortage. How did it come to this? How did the nation get to a point where businesses across the country are begging patrons to pay in exact change? … Continue reading COVID’s Latest Trick: Making Coins Disappear
This post is to call your attention to a brand new paper of mine titled “Tariffs by Fiat: The Widening Chasm between U.S. Antidumping Policy and the Rule of Law.” First, some background. Article 1, Section 8 of the U.S. Constitution gives Congress authority “to lay and collect Taxes, Duties, Imposts and Excises…and to regulate commerce with foreign … Continue reading Congress Acquiesces to Tariffs by Fiat
The Constitution guarantees the right to engage in commerce within the United States free from interstate trade wars through what’s known as the “dormant” Commerce Clause, which stops protectionist state regulations. Last year, the Supreme Court’s groundbreaking opinion in Tennessee Wine & Spirits Retailers Association v. Thomas reaffirmed this principle, holding Tennessee’s durational residency requirements for retail liquor … Continue reading Texas Beer Should Be Sold as Freely as Tennessee Whiskey
The city of Seattle is already struggling. With a new tax on jobs, its city council seems determined to make things even worse. The COVID-19 pandemic and local government lockdowns economically decimated Washington state in March, with Seattle hit especially hard in the early days of the virus’s spread. In the immediate aftermath of the … Continue reading Seattle Just Passed a New Tax on Jobs in the Middle of an Economic Crisis—But Exempted Government Workers
Democratic Presidential nominee — and current 2020 front‐runner — Joe Biden yesterday released a “Made In All of America” plan heavy on “Buy American” mandates, pursuant to which $400 billion in new federal energy and infrastructure projects must use only “American products, materials, and services.” Biden’s plan, it should be noted, is hardly novel: Buy American laws … Continue reading Ignoring the Recent (and Ignominious) History of “Buy American”
Joe Biden revealed on Thursday the first part of “Build Back Better,” his plan for economic recovery from the COVID crisis. As Morning Brew reports, Biden plans to spend: $300 billion on “R&D for advanced tech industries such as batteries, electric vehicles, AI, and 5G,” and $400 billion “on U.S. goods and services. Biden wants … Continue reading Biden’s New Economic Plan Has All the Earmarks of Type 2 Socialism
