As coronavirus lockdowns have weakened the US economy this spring, causing business closures and layoffs, teenagers are particularly hard hit. According to The Wall Street Journal, the teen unemployment rate is the highest it’s been since at least 1948. Widespread shut-downs in the restaurant and hospitality industries have affected entry-level and low-wage workers, including teenagers … Continue reading If Summer Teen Jobs Are Hard to Find, Try Entrepreneurship
Category: Economy
President Trump’s political future has been closely intertwined with the economy’s success since his first day in the White House. Now that the COVID-19 pandemic and ensuing government-mandated societal shutdown have sent the economy spiraling into a recession, the president’s hopes of reelection this November largely depend on convincing voters that only he can oversee … Continue reading Trump Visa Freeze Holds Back Economic Recovery and Job Growth
Should high-tax states such as California and New York get a bailout? Morally Hazardous Bailouts I explained last month why that would be a mistake, in large part because bailouts would reward states for irresponsible fiscal policy (similar to my argument that countries like Austria and the Netherlands shouldn’t be bullied into providing bailouts for … Continue reading Everything You Need to Know about Blue State Fiscal Problems in One Chart
In a recent article, The Economist provided compelling evidence that “democracies contain epidemics most effectively.” According to the article’s analysis, … most data suggest that political freedom can be a tonic against disease. The Economist has [analyzed] epidemics from 1960 to 2019. Though these outbreaks varied in contagiousness and lethality, a clear correlation emerged. Among countries with … Continue reading Why Democracy and Free Markets Are the Best Antidotes to Pandemics
In its release of recommendations on how to spur the fastest and most complete rebound from the coronavirus pandemic, The Heritage Foundation’s National Coronavirus Recovery Commission emphasized the importance of economic freedom and the free-market system: In all of history, there has been no better model than that of free markets in lifting people out of poverty and … Continue reading American Leadership on Economic Freedom Needed Now More Than Ever
During the public health crisis caused by COVID-19 and the economic crisis that resulted from the government-mandated societal shutdown, the public’s attention has focused on short-term threats and immediate consequences. This, understandably, led to an emphasis on figures such as the approximately 2.1 million confirmed cases of coronavirus, roughly 118,000 deaths from the virus, and … Continue reading One Overlooked COVID-19 Legacy Will Haunt Your Grandchildren
Every year Forbes publishes its list of the 400 wealthiest Americans. Topping the list in 2019 for the second year in a row was, to no one’s surprise, Jeff Bezos. The Amazon founder kept the top spot despite a divorce that sent his net worth tumbling from $160 billion to $114 billion. Worldwide, Americans represent … Continue reading 9 of the 10 Richest People in the World Are Self-Made Entrepreneurs
Since the beginning of the COVID-19 pandemic, minorities have disproportionately suffered from the virus’s health effects. A new study reveals that the government-mandated economic lockdowns have also hit minorities hardest. In response to the outbreak and under the guidance of federal agencies such as the Centers for Disease Control, state and local governments imposed quarantine … Continue reading The Lockdowns Crushed Minority-Owned Businesses the Most
The spread of the coronavirus has prompted most states to issue orders mandating non-essential businesses to close and non-essential workers to stay home. These regulations, whether or not they are justified, will decimate small and large businesses alike (and indeed already are, in many areas). Loans are being made available to businesses, some containing a … Continue reading Will States Owe Businesses Just Compensation for Forced Closures When the COVID-19 Pandemic Is Over?
The peaceful protests over the police killing of George Floyd are entirely justified. But the rioting, looting, and arson that have broken out in cities from Minneapolis to Dallas are most certainly not. In fact, in many instances, this criminal vandalism is sabotaging the same minority communities that peaceful protesters seek to aid. Here are … Continue reading Here Are Just 10 of the Many Minority-Owned Businesses Destroyed in the Riots
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