Blog
CEI Presents the 2020 Julian L. Simon Award to Dr. Steven Horwitz
On September 30, the Competitive Enterprise Institute presented its 2020 Julian L. Simon Memorial Award to Dr. Steven Horwitz, Director of the Institute for the…
Blog
Negative Interest Rates’ Impact on Public Pensions
One of the main responsibilities of pension fund managers is to work to maximize investment returns in order to grow the plan’s assets and thus…
Blog
How Accounting Reform Can Help Address Public Pension Underfunding
By deferring compensation, in the form of pensions, and pushing those costs well into the future, politicians can gain favor with government employee unions, which…
Blog
Sealand, from Pirate Radio to Seasteading
Setting up a sovereign free territory has long been a dream of libertarian mavericks, from the ill-fated Republic of Minerva to the nascent Free Republic…
Blog
Underfunded Public Pensions Put Future Taxpayers on the Hook
One of the most well-known and enduring lessons of public choice economics is the dynamic of concentrated benefits and diffuse costs. Well-organized groups have both…
Blog
How Julian Simon Defeats Thanos
“The universe is finite, its resources finite. If life is left unchecked, life will cease to exist.” With those simple words, the Marvel supervillain Thanos…
Blog
California Supreme Court Upholds Pension Reform, Punts on ‘California Rule’
On Monday, March 4, the California Supreme Court, in a unanimous decision, upheld a major provision in the state’s 2012 pension reform legislation, but punted…
Blog
Pension Obligation Bonds No Panacea for State Budget Liabilities
Illinois has a new governor and Chicago will soon have a new mayor—and the same old underfunded public pensions. Inheriting a predecessor’s debts is never…
Blog
Warren Buffett Warns about Unfunded Public Pension Liabilities—Again
Would you invest in a state with large unfunded pension liabilities? Warren Buffett likely wouldn’t. In a long interview with CNBC this week, the famed…
Blog
Real-World Effects of Pension Debt
Debates over public pension finance often have an abstract quality, taking place outside most people’s immediate concerns. Yet, the real-world effects can be quite tangible.
Blog
A Toast to the Sears Catalog
In retail, as in every industry, eras come and go. Few recent events mark the passing of an era like the announced bankruptcy of…
Blog
Wishful Thinking Is No Way to Address Public Pension Shortfalls
More state revenue but less money for public services? That’s the situation in which states with large unfunded pension obligations can find themselves if they…
Blog
Could Janus Ruling Open the Door to Pension Reform?
This week, the U.S. Supreme Court heard oral argument in case Janus v. AFSCME, which could significantly impact unions representing government employees. A ruling in…
Blog
In Illinois, Public Pension Funding Cannot Keep up with Pension Benefits’ Growth
Public pension shortfalls result from too little money being paid into the pension funds. Or so government employee unions and their political allies would have…
Blog
End of ‘California Rule’ Can Open Path for Pension Reform
Ending the 'California Rule' won’t mean that pension reform will become easy—union opposition will remain as fierce as today—but it’s a needed start.
Blog
The Dangerous Posturing of New York’s Fossil Fuel Pension Divestment
New Yorkers should be wary of Mayor Bill de Blasio's decision to divest fossil fuel energy stocks from the city's public employee pension plan.
Blog
Pension Bailout Bill Would Put Taxpayers on the Hook for Billions
Policymakers can help underfunded pension plans meet their payout obligations without bailouts.
Blog
Pension Liabilities Bite in the Present, Too
Politicians should close underfunded public employee pension funds to new enrollees and offer new hires other options, such as defined contribution or hybrid plans.
Blog
Missouri’s $5 Billion State Pension Underfunding Shows Results of Faulty Accounting
Government pension managers should calculate the state contribution using a more realistic rate-of-return estimate.
Blog
Let Private Markets Finance Aircraft Sales
There is no good reason to keep the Export-Import Bank —or its international brethren—around.
Blog
Center for American Progress’ Make-Work Scheme Needs Details
A debate over income inequality and job growth is worth having.
Blog
The Community Reinvestment Act’s Absurd Unintended Consequences
Many neighborhoods designated as poor under the federal Community Reinvestment Act are among the wealthiest in the nation.
Blog
Unfunded Public Pension Obligations Grow to $5.6 Trillion
State public pension plans are underfunded by nearly $5.6 trillion nationwide, according to a new American Legislative Exchange Council (ALEC) study.
Blog
RIP Reed Larson
Don’t have to pay union dues? You can probably thank Reed Larson.
Blog
For Affordable Housing, Ditch Prevailing Wage Laws
For residents of some of the nation’s major cities, it’s hardly news that housing costs are high, with little likelihood of their coming down any…
Blog
Judge Halts Labor Department Persuader Rule for Now
A federal judge in Texas yesterday issued a preliminary injunction blocking the Department of Labor (DOL) from implementing its “persuader rule,”…
Blog
Unions and Environmentalists Oppose Plan to Address California’s Rising Housing Costs
Everyone’s for affordable housing—except, it seems, some unions and environmentalists. On May 18, a coalition of unions and environmental advocacy groups—including the State Building &…
Blog
Labor Department’s “Persuader Rule” Gives Unfair Advantage to Unions
The Department of Labor’s “persuader rule,” which is set to go into effect on Monday, April 25, will give unions a new tool to…
Blog
California Court’s Indefensible Defense of Dysfunctional Education Policies
A California appeals court yesterday restored a series of education policies that harm students by making ineffective teachers extremely difficult to fire. The court…
Blog
PBGC’s Perverse Incentives Undermine Multiemployer Pensions
For years, the Pension Benefit Guaranty Corporation (PBGC), the federal agency that insures private sector defined benefit (DB) pension plans, has been severely underfunded below…