As we emerge from the COVID-19 pandemic, we have an opportunity to reflect on the Food and Drug Administration’s successes and failures. A radical departure from the standard drug-approval process enabled the development and distribution of life-saving vaccines that allow us to return to normal. But we should not forget that many Americans lost their … Continue reading Promising New Legislation Could Transform the FDA’s Drug Approval Process, Leading to Better Treatments and Lower Prices
Category: Washington
Proponents of big-government spending and money-printing tried to downplay April data showing surging consumer prices as just a temporary adjustment. But the new data for May are out now, and they show price inflation shooting up even higher. According to Bureau of Labor Statistics figures released Thursday, consumer prices rose a whopping 5 percent from … Continue reading 3 Ways Rising Price Inflation Hurts Everyday Americans
Opponents of minimum wage laws tend to focus their criticism on one particular adverse consequence: by artificially raising the price of labor, they reduce employment, particularly for the most vulnerable in society. “Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers,” economist Murray Rothbard wrote in 1978. … Continue reading Harvard Business Review: Minimum Wage Hikes Led to Lower Worker Compensation, New Research Shows
The Biden administration released its National Strategy for Countering Domestic Terrorism. It’s loaded with proposals based (so it seems) on premises that have been discredited or attacked when applied to various ethnic or religious minorities during the “War on Terror” era, such as the FBI’s infamous “Don’t Be A Puppet” website with its anti‐Muslim stereotypes and tropes. … Continue reading Biden’s Domestic Terrorism Strategy: A Recipe for Civil Liberties Abuses?
Until recently, conventional wisdom had it that the Republicans were the party of free trade while the Democrats were more inclined towards protectionism. There were always gaping holes in this characterization, as we never came close to free trade when the Republicans had power, and Democratic presidents often pursued a bit of trade liberalization. But it … Continue reading Are the Republicans Switching Places with the Democrats on Trade?
Gun control advocates often claim the moral high ground. They accuse opponents of selfishly clinging to their guns and having cold hearts toward the victims of gun violence. That is exactly what happened on May 20 at a Congressional hearing on the issue. But Rep. Thomas Massie (R-KY) wasn’t having it. “We care about victims,” … Continue reading Congressman’s Impassioned Testimony Reveals the True Victims of Gun Control
Nearly 50 years ago, in the heat of August 1971, President Richard M. Nixon issued Executive Order 11615 to impose the first wage and price controls since World War II. They were intended to suppress inflation, which at the time was less than 5 percent. But just as they did during wartime, the 1971 price controls went … Continue reading Get Ready for Price Controls if Inflation Accelerates
The Biden administration is proposing to spend $225 billion on subsidized daycare over the next decade as part of its nearly $2 trillion American Families Plan. This is on top of the proposed $200 billion the administration hopes to spend to create a universal government preschool program for 3- and 4-year-olds. The president’s plan is … Continue reading Biden’s Taxpayer-Funded Childcare Plan Won’t Work, Harvard Economist and Obama Ally Concludes
The United States steel industry has long received government protection from import competition, today in the form of hundreds of “trade remedy” (antidumping and countervailing duty) measures on specific iron and steel products and “national security” tariffs on almost all forms of finished and semi‐finished steel products. Numerous economic analyses have shown that these measures raise domestic steel prices … Continue reading How American Steel Protectionism Harms American Manufacturers in One Simple Chart
Over the last year, consumer prices have increased roughly 5 percent, the biggest increase in 13 years. Driven in large part by the federal government’s reckless money-printing, such steep price increases will cut Americans’ paychecks and erode their savings. Now, in a concerning twist, we just got reason to believe that elevated levels of price … Continue reading Here’s Why Price Inflation Could Remain Elevated for Several Years
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