You are here

OpenMarket: October 2011

  • CEI Podcast for October 6, 2011: How to Deregulate the Economy

    October 6, 2011
    Vice President for Policy Wayne Crews is author of the new CEI study, “The Other National Debt Crisis: How and Why Congress Must Quantify Regulation." He discusses a few of his many ideas for deregulating the economy.
  • Today's Links: October 6, 2011

    October 6, 2011
    OPINION NATIONAL REVIEW EDITORIAL: "Truth in Budgeting" "As Americans struggle to balance their checkbooks in the real world, lawmakers in Washington continue to apply postmodern accounting tricks to mask their out-of-control spending habits. New legislation introduced by Sens. Jeff Sessions (R., Ala.), top Republican on the Senate Budget Committee, and Olympia Snowe (R., Maine) would help to tamp down some of these shenanigans." DIANA FURCHTGOTT-ROTH: "DOE Hasn't Learned Its Solyndra Lessons" "Some might think the Energy Department learned from the September Solyndra bankruptcy, in which taxpayers have a $528...
  • The EDA Elimination Act: To Terminate the Economic Development Administration

    October 6, 2011
    Yesterday Kansas Rep. Mike Pompeo introduced the “EDA Elimination Act,” a bill that would remove funding for the U.S. Department of Commerce’s Economic Development Administration. The agency represents all of the failed policies that the federal government has used to promote economic growth since President Johnson’s Great Society. As Rep. Pompeo wrote in his press release, “At its core, the EDA behaves as a wealth redistribution program… The EDA simply picks ‘winners and losers’ by region, by industry, and by community.” Last week, Iain Murray and I issued our call in the Washington Times to end the EDA.  Our...
  • Today's Links: October 5, 2011

    October 5, 2011
    OPINION KONSTANTIN KAKAES: "Some Crazy (And Not So Crazy) Ideas For Sending a Spacesehip to Another Solar System" "Space is about to be opened up to private industry in a fundamentally new way. If industry lives up to the hopes of those assembled in Orlando, maybe the fastest human beings in history will soon be traveling toward something instead of back to Earth, like the Apollo 10 crew." WASHINGTON IDEAS FORUM: The Atlantic (Livestream and Archive)
  • Occupy Wall Street Protesters Make Demands

    October 5, 2011
    Until recently, I haven’t been paying much mind to the Occupy Wall Street protests. They’re a lot like Tea Party protesters. They’re upset with the status quo, and are being quite vocal about it. But -- also like the Tea Partiers -- they lack a unified voice. What do they want? That incoherence was partially solved when one activist posted a list of thirteen demands on It doesn’t stand for the whole movement, obviously. Some protesters are focused on different issues than the ones he chose. But it’s reasonable to assume that most of the protesters would agree with most of his demands. From an economist’s perspective, the demands are both fascinating and disheartening. Fascinating because people who haven’t studied economics believe some really strange things; disheartening...
  • Barone is Right: Appeasing Protectionists Is a Bad Idea

    October 5, 2011
    President Obama is finally sending three pending trade agreements -- with South Korea, Colombia, and Panama -- to Congress for a vote. The three trade deals were ready for this moment before Obama entered the White House. So what's taken so long? Quite simply, as Michael Barone notes in his Washington Examiner column today, the president wanted to avoid angering his political allies in organized labor.
    [Obama] could have sent [the treaties] 985 days earlier; negotiations were completed in 2006 and 2007. Or, if he were concerned they'd be deep-sixed when his fellow Democrats controlled Congress, he could have sent them 274 days earlier when Republicans took over the House. To be sure, they are opposed by many labor union leaders and congressional...
  • Jerrold Nadler's Fiscal Fantasies: Herbert Hoover Increased Spending, He Did Not "Slash the Budget" During the Great Depression

    October 5, 2011
    Attacking the idea of a Balanced Budget Amendment, "Congressman Jerrold Nadler (D-NY), the top Democrat on the House Judiciary Subcommittee on the Constitution," issued a press release on October 4 promoting the falsehood that Herbert Hoover cut spending during the Great Depression, when in reality, Hoover more than doubled government spending as a percentage of GDP:
    "Did Herbert Hoover win the last election?" asked Nadler. "If, in the middle of a recession, when tax revenues are down, and unemployment is up, we begin to slash the budget in ways my Republican colleagues are now suggesting, much less the far more draconian measures that this amendment would require, we...
  • Poll: 14 Percent Approval Rating for Congress

    October 5, 2011
    Lawmakers need to do something about their do-something bias and try a deregulatory stimulus. Besides stimulating the economy, it would likely stimulate approval ratings, too.
  • Chinese Currency Bill Will Do Little to Improve Economy

    October 5, 2011
    Reuters and the Los Angeles Times report that a United States bill aimed at China’s currency policy is making its rounds around Congress. This bill would allow the United States government to slap countervailing duties on products from countries found to be subsidizing their exports by undervaluing their currency. Senator Charles Schumer (D-NY), one of the main bill supporters, said that “we simply have no choice but to defend and protect U.S. jobs and the U.S. economy.” Not only is Sen. Schumer’s view and bill wrongheaded, it is also dangerous as it can trigger retaliatory measures from China, which would cause harm on domestic consumers. In 2010, China exported US$ 365 billion worth of...
  • Today's Links: October 4, 2011

    October 4, 2011
    OPINION JOHN F. COGAN and JOHN B. TAYLOR: "Stimulus Has Been a Washington Job Killer" "Temporary, targeted tax reductions and increases in government spending are not good economics. They have repeatedly failed to increase economic growth on a sustainable basis. What may come as a surprise is that such policies are not good politics either. Their inability to deliver promised economic benefits has invariably led disappointed voters to turn against those politicians, Democratic and Republican, who have supported them." MARK SCHNEIDER and JORGE KLOR de ALVA: "Cheap for Whom?" "Most people recognize that the price of public universities is underwritten by...


Subscribe to OpenMarket: October 2011