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by Michael Spencevia Project Syndicate
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by Lee Ohanian, Edward Prescottvia Wall Street Journal

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In the News

Uncertainty On Trade Is Killing American Businesses

quoting Steven J. Davisvia National Interest
Sunday, June 30, 2019

Presidents Donald Trump and Xi Jinping have backed away from the escalating U.S.-China trade war by agreeing to restart negotiations between their two countries at the G20 summit. Trump held off additional tariffs on Chinese goods and Xi agreed to buy more U.S. agricultural products. No formal joint statement spelling out the details of how the negotiations will move forward was provided, and given the rocky history of past negotiations, the future path of trade policy between the two countries remains in a fog. This uncertainty, as well as uncertainty with America's other trading partners, is a nightmare that has not yet ended for businesses engaged in international trade.


Californians Are Losing Their Supermajority Protection Over Tax Increases

by Lee Ohanianvia California on Your Mind
Tuesday, June 25, 2019

For the last forty years, California has required that new taxes earmarked for a specific purpose be approved by a two-thirds supermajority in a general election to pass. But the state’s supreme court has thrown out this protection for new tax initiatives that are brought forward by a citizens’ group, rather than by government directly. Predictably, new and expensive tax initiatives are now being brought by citizens’ groups and are passing by simple majority when they would not pass by the previous supermajority rule.

In the News

No Fun: Bernie Sanders Calls For Unionization Of Video Game Industry

quoting Richard A. Epsteinvia Media Research Center TV
Monday, June 24, 2019

Bernie Sanders’s ignorance of economics and history seem to know no bounds. The latest? On June 18, the font of wet-lipped wisdom decided to continue his stellar track record of pushing for the opposite of what markets and economic growth need by Tweeting: "The video game industry made $43 billion in revenue last year. The workers responsible for that profit deserve to collectively bargain as part of a union. I'm glad to see unions like @IATSE and the broader @GameWorkers movement organizing such workers."

In the News

'Wages And Benefits' Make Up Almost 3/4 Of The Fiscal Year 2019-2020 General Fund Budget

quoting Lee Ohanianvia The Sanger Herald
Wednesday, June 19, 2019

The council took very little time at its June 13 meeting to approve an overall city budget for fiscal year 2019-2020 of about $47 million with a general fund budget of a little more than $13.6 million.


We Can't Rely On National Governments To Save Failing Communities. It's Time For A New Approach

by Raghuram Rajanvia CNN Business
Tuesday, June 18, 2019

As technological change has allowed societies around the world to prosper, others are being left behind.


The Recovery Is Reaching Its End

by Edward Paul Lazearvia The Wall Street Journal
Tuesday, June 18, 2019

When unemployment dropped below 5% three years ago, some economists, including at the Federal Reserve, concluded that the labor market had topped out—that those still out of work would never get jobs. Three years and nearly eight million additional jobs later, it’s clear they were wrong.

Analysis and Commentary

Henderson's Case Against A Universal Basic Income

by David R. Hendersonvia EconLog
Friday, June 14, 2019

Even some free-market economists, such as Duke University’s Michael Munger, argue for a UBI that would replace the current welfare state. But assuming unrealistically that the existing means-tested welfare state programs could be completely replaced, a UBI of $12,000 a year or even of $10,000 a year would require large increases in federal government spending and large increases in taxes.

In the News

News Industry Hopes To Leverage Tech Antitrust Crisis For Financial Gain

quoting Jamil Jaffervia Townhall
Tuesday, June 11, 2019

A hearing begins today on Capitol Hill, led by Rhode Island Democrat David Cicilline who chairs the House Judiciary antitrust subcommittee, to examine the effect Google, Amazon, Apple, and Facebook have on the news industry following an explosive study indicating Google made $4.7 billion off the news in 2018.

In the News

Chase Says Arbitration ‘Provides Better Outcomes’ For Consumers. Nope, Say Researchers

quoting Amit Seru via The Los Angeles Times
Wednesday, June 5, 2019

JPMorgan Chase is notifying more than 40 million credit card holders that from now on they’ll have to arbitrate any disputes, forgoing the option of filing a lawsuit or joining class-action suits. Although an opt-out is possible (but difficult), this places Chase alongside many other businesses insisting arbitration is a better alternative for consumers than litigation.

In the News

Restoring IP Rights After the Destructive, Unjust Antitrust Rendering In FTC V. Qualcomm

quoting Richard A. Epsteinvia IP Watchdog
Tuesday, June 4, 2019

If a judge ever botched an antitrust case involving patents, the prize may go to federal district Judge Lucy Koh for her ruling in favor of the Federal Trade Commission (FTC) in its antitrust action against Qualcomm.


Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple