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This Week in Ridiculous Regulations
The Federal Register had a four-day week due to Martin Luther King Day, but agencies still found time to issue new final regulations ranging from…
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How Antitrust Intervention Backfires
Antitrust policy interventions into the market rarely work as intended.
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This Week in Ridiculous Regulations
In a busy week, President Trump signed Phase One of a trade agreement with China on Wednesday. On Thursday, the Senate ratified the USMCA trade…
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Senate Passes USMCA, Sets Bad Precedent for Future Agreements with China, UK, EU
The USMCA trade agreement passed the Senate today. USMCA is valuable damage control. Three years of unpredictable tariff increases, threats of increases, and diplomatic tensions…
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Phase One Trade Agreement with China: Tariff Stability, at the Cost of Managed Trade
Phase One of a trade deal with China has enormous value as damage control against further tariffs, but it comes at a cost. The Trump…
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Minimum Wages Rise Across the Country
Twenty four states rang in 2020 with minimum wage increases. Most of the increases are modest, so the tradeoffs will be, too. But there was…
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This Week in Ridiculous Regulations
The new year started off with a literal bang, though as of this writing the worst Iran scenario seems to have been avoided. The Senate…
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This Week in Ridiculous Regulations
Happy New Year, everyone. We’re doing a slightly different format this week, on account of the new year starting mid-week. With just two days’ worth…
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How Much Federal Regulation Was There in 2019?
Happy New Year, everyone. Now that 2019 is in the books, we have some data on how much new regulation hit the books. Note that…
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Best Books of 2019: In Defense of Openness
Most policy proposals for fighting poverty are zero-sum. The best way to help the poor, the argument goes, is to take from the rich. Van…
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This Week in Ridiculous Regulations
Federal workers got a three-day week as a Christmas present this year. Agencies still put out 323 notices, 50 proposed regulations, and 1,342 Federal Register…
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Best Books of 2019: Big Business by Tyler Cowen
Cowen argues that most people underestimate the amount of good that big businesses do. They make possible affordable communications, books, culture and art (and the…
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Best Books of 2019: Humanomics by Vernon Smith and Bart Wilson
Smith and Wilson combine insights from their experimental economics research with insights about human character from Adam Smith’s "Wealth of Nations" and especially his 1759 book "The Theory…
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Best Books of 2019: Expert Failure by Roger Koppl
Koppl uses the role of experts to explain the difference between approaching social problems from the top down versus from the bottom up. Koppl defines an…
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Best Books of 2019: Legal Systems Very Different from Ours
Many years ago at a Mont Pelerin Society conference in Reykjavik, I saw David Friedman give a talk on Icelandic law during the Free State…
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This Week in Ridiculous Regulations
Congress finished the year with a bang. In a two day span the House impeached the president and passed the USMCA trade agreement. Both chambers…
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Best Books of 2019: The Narrow Corridor
Predatory governments with high corruption, that don’t respect political and economic freedoms, are extractive. Countries with these sorts of institutions tend to be both poor…
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This Week in Ridiculous Regulations
Britain held a major election, and the U.S. House of Representatives is set to impeach President Trump. At the same time, Trump is poised for…
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Phase One of a China-U.S. Trade Agreement and the Ratchet Effect
As of Friday, December 13th, the U.S. and Chinese governments have agreed in principle to phase one of a trade agreement. The Chinese government will…
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Competitive Enterprise Institute Opposes USMCA Trade Agreement
The Competitive Enterprise Institute (CEI) today announced its opposition to the USMCA trade agreement between the United States, Mexico, and Canada because the updated agreement…
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This Week in Ridiculous Regulations
The House began preparing articles of impeachment, President Trump announced new tariffs against three allies, a NATO summit was surprisingly contentious, and the federal government…
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This Week in Ridiculous Regulations
While the nation celebrated Thanksgiving with family and friends, rulemaking agencies published new regulations ranging from almond information to missile accidents.
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This Week in Ridiculous Regulations
Congress averted a government shutdown until December 20th by passing a continuing resolution. The Fall 2019 Unified Agenda was also released, which compiles all rulemaking…
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This Week in Ridiculous Regulations
The 2019 Federal Register has already exceeded its page count during President Trump’s first year in office, with more than a month to spare and…
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Ex-Im Reauthorization Vote Today in the House
The House of Representatives will vote on reauthorizing the Export-Import Bank today. Even if Ex-Im is reauthorized, the fight over it has already yielded a…
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Two New Studies on Economics of Trade
Philip Thompson and Lorenzo Montanari have compiled a Trade Barrier Index, just released by the Property Rights Alliance. The U.S. currently ranks 54th out of…
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This Week in Ridiculous Regulations
The number of new regulations this year passed 2,500 last week, and the Federal Register surpassed 60,000 pages. This week could see big news on…
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Trade Developments on Export-Import Bank and NAFTA/USMCA
America’s trade policy landscape has some big events on the horizon. The House of Representatives will vote next week on Rep. Maxine Waters’ (D-CA) Export-Import…
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This Week in Ridiculous Regulations
Washington had one of its best weeks in recent memory. The Nationals won the World Series, and Congress is taking the next two weeks off.
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Export-Import Bank Reauthorization Update
It is busy a time right now in the Export-Import Bank reauthorization battle. Rep. Maxine Waters (D-CA) introduced a new bill to reauthorize the Export-Import…
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Spooky Halloween Regulations
Halloween is this week. That means costumes, spooky decorations, trick-or-treating, and pumpkin spice everything. The Code of Federal Regulations contains several rules to keep everything…
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This Week in Ridiculous Regulations
The Washington Nationals made it to the World Series, and the White House canceled some of its newspaper subscriptions. Meanwhile, rulemaking agencies published new regulations…
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This Week in Ridiculous Regulations
Last week’s big stories included a thickening impeachment plot, Energy Secretary Rick Perry’s resignation, and a letter written to the president of Turkey. In a…
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This Week in Ridiculous Regulations
The latest Mad Libs-style political feud involves the NBA, the television cartoon South Park, and the Chinese government. President Trump also issued a pair of…
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This Week in Ridiculous Regulations
Non-impeachment news involved a major court ruling on net neutrality, plus a new tariff. This year’s Federal Register is on pace to surpass last year’s…
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New $7.5 Billion Tariffs against European Union
The Trump administration has announced tariffs on $7.5 billion of goods from the European Union. This time, it is being done with the World Trade…
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New Study: Minimum Wages Have Tradeoffs
Congress nearly increased the federal minimum wage from $7.25 to $15 per hour this year. Though the Raise the Wage Act is unlikely to pass…
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This Week in Ridiculous Regulations
Congress is out of session for the next two weeks, and the impeachment investigation will likely dominate headlines for some time to come. Meanwhile, the…
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Antitrust Astroturf Activism
Not too long ago, I pointed out that antitrust regulation is often gamed by special interests and rent-seekers. A recent story in The Wall Street…
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Ex-Im Bank Reauthorization: Lesson in Institutional Design
For all its flaws, the Export-Import Bank’s charter gets an important thing right: the agency must be reauthorized every few years, or it will close.
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This Week in Ridiculous Regulations
The House passed a continuing resolution to avoid a federal shutdown until November 21st. The Senate will likely follow suit this week. The 2019 Federal…
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Export-Import Bank Fight Not Over Yet
The Export-Import Bank’s charter is currently set to expire on September 30. If authorization lapses, the agency will shut down. On Thursday, the House passed…
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Ex-Im Bank Reauthorization: Major Victory against Cronyism, Despite Setback
Nobel laureate economist Ronald Coase wrote in his 1975 essay “Economists and Public Policy” that “An economist who, by his efforts, is able to postpone…
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This Week in Ridiculous Regulations
Congress returned from recess, the Democratic presidential candidates had a debate, and the 2019 federal deficit topped $1 trillion with a month left to go…
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Automaker Antitrust Investigation Wrong Way to Fight Cartels
Cartels need government support because they contain the seeds of their own destruction. Self-interested companies acting selfishly naturally undo their own cartels.
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Study on Export-Import Bank: Repeal Is Best, Other Reforms Can Help
The Export-Import Bank is up for reauthorization by September 30. It should be shut down, as I’ve pointed out before, but reauthorization will almost certainly…
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This Week in Ridiculous Regulations
Contrary to my earlier prediction, the number of new regulations this year did not pass 2,000 last week, ending the four-day week at 1,991. Meanwhile,…
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State Attorneys General Launch Antitrust Investigations, Forget ‘Relevant Market’ Fallacy
Facebook and Google are facing separate antitrust investigations from publicity-seeking state attorneys general from both parties. New York’s Democratic attorney general is heading a joint…
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Trump Tariff Costs to Outweigh Benefits from Deregulation
Early in the Trump administration, a series of executive orders slowed the growth of new regulations and removed some existing rules. From the start of…
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This Week in Ridiculous Regulations
The UK parliament will soon be suspended for a five-week period, something the U.S. Congress should consider emulating as often as possible. Over in the…
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This Week in Ridiculous Regulations
A humorous diplomatic row over Greenland was not the only news of the week, with China tariffs, divisive rhetoric, and recession fears also putting in…
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Antitrust Basics: Think Long Term, Not Just Short Term
Moore’s Law states that computing power doubles every year and a half or so. An antitrust case against IBM, by contrast, lasted for 13 years,…
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Antitrust Basics: Corruption and Rent-Seeking
Rent-seeking is economics jargon for chasing after unfair special favors from government. Businesses and individuals have a large menu of rent-seeking options to choose from,…
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This Week in Ridiculous Regulations
Last week was the Federal Register’s busiest of the year, with its 3,075 pages almost tripling a normal week’s count. A new economically significant regulation…
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This Week in Ridiculous Regulations
Rumblings of a “Navarro recession” are growing louder, and the 2019 Federal Register will likely crack the 40,000-page mark early this week. Rulemaking agencies published…
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This Week in Ridiculous Regulations
In a pre-recess Parthian shot, the Senate passed a massive new spending bill that would increase federal spending by $320 billion over two years and…
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This Week in Ridiculous Regulations
Congress has adjourned for its August recess, so the republic is safe for another month. Rulemaking agencies are still on the job, however, and published…
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House Passes ‘Raise the Wage’ Act
The Raise the Wage Act, which passed the House on Thursday, would raise the federal minimum wage to $15 by 2025. The bill now moves…
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This Week in Ridiculous Regulations
Washington, D.C.’s flash flood was followed up by a heat wave; this week could bring even worse during Congress’ final week in session before the…
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This Week in Ridiculous Regulations
Washington, D.C. was hit by a flash flood, but agencies were still able to publish new regulations ranging from electric program procedures to Fort Ord…
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Antitrust Basics: Regulatory Uncertainty
Antitrust laws are not enforced to the letter. They are a matter of regulators’ and judges’ discretion. If they were applied literally, every business transaction…
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Antitrust Basics: Rule of Reason Standard vs. Consumer Welfare Standard
Regulators have used two different standards to judge antitrust cases over the last century or so: the “rules of reason” standard and the “consumer welfare”…
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This Week in Ridiculous Regulations
It was a four-day week for the federal government as the nation celebrated Independence Day. Meanwhile, agencies published new regulations ranging from the Paper and…
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Antitrust Basics: Misleading Herfindahl-Hirschman Index
Market concentration is the most common reason for antitrust intervention. If a company has too large a market share, it can abuse that market power…
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This Week in Ridiculous Regulations
The 2019 Federal Register broke 30,000 pages last week, the Democratic presidential candidates had their first debates, and the U.S. and Chinese governments prepared for…
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Antitrust Basics: Relevant Market Fallacy
If a firm is charged with having market power, the question naturally arises: in which market? Does Facebook have a monopoly over social networking, especially…
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This Week in Ridiculous Regulations
Wednesday, the day before the Competitive Enterprise Institute’s 35th anniversary gala dinner, saw no new final regulations published in the Federal Register. This may be…
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Introducing Antitrust Basics
Often, a drips-and-drabs approach to learning an issue over a period of time is as effective as a single intense cram session. To that end,…
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This Week in Ridiculous Regulations
Last week, a Canadian team won the NBA championship for the first time, while an American team won the Stanley Cup. This week brings us…
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This Week in Ridiculous Regulations
While the administration is so far keeping to its one-in, two-out policy for proposed rules, new trade and antitrust policies are likely to increase net…
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This Week in Ridiculous Regulations
President Trump threatened a new tariff on all Mexican goods, potentially scuttling the NAFTA/USMCA agreement. My colleague Wayne Crews went through the new Spring 2019…
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Addressing the Gender Pay Gap: Culture, Not Legislation
Gender discrimination is a complex problem with a complex solution.
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Trump Threatens up to 25 Percent Tariff on Mexican Goods, Jeopardizes NAFTA/USMCA
Things have been moving quickly on President Trump’s top legislative priority, the NAFTA/USMCA trade agreement. The key was rescinding steel and aluminum tariffs against Canada…
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This Week in Ridiculous Regulations
The number of new final regulations this year topped 1,000 last Tuesday, and President Trump and Congress entered Memorial Day weekend at odds on issues…
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This Week in Ridiculous Regulations
The Game of Thrones finale aired last night, though the show’s less-plausible Washington spinoff appears set to continue indefinitely, and with a rather larger budget.
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Trump Mostly Removes Steel, Aluminum Tariffs against Mexico, Canada: Barriers Still Higher than in 2017
The Trump administration is mostly lifting its steel aluminum tariffs on Canada and Mexico, effective 48 hours from today’s announcement. But metal tariffs will remain higher…
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Alice Rivlin, 1931-2019
Some economists do more than teach classes and write books. Alice Rivlin, who passed away this week, was proof. She was the first director of…
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Boeing Pushes 100 Percent Tariffs on Airbus
Boeing, fresh off a victory in restoring the Export-Import Bank’s full lending authority, is floating the idea of a 100 percent tariff on Airbus aircraft…
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Trade War State of Play: China, USMCA
If President Trump’s trade war has a single takeaway, it is this: Raising tariffs is an ineffective bargaining strategy. When the U.S. raises its tariffs,…
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This Week in Ridiculous Regulations
Facebook co-founder Chris Hughes called for breaking up the company; CEI’s Iain Murray and Kent Lassman explain why that’s a bad idea. CEI also released…
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Re-Prioritizing Regulatory Reform
The 2019 edition of Wayne Crews’ Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State is out now.
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This Week in Ridiculous Regulations
Not one, but two potential Federal Reserve Board nominees withdrew from consideration last week, and economic growth and unemployment remained in excellent health. Meanwhile, with…
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Trump Threatens New China Tariff with May 10th Deadline
On Sunday, President Trump announced via Twitter that if he does not approve of the results of this week’s U.S.-China trade talks, he will enact…
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Ex-Im Bank Revival?
Next week the Senate is expected to vote on new board members for the Export-Import Bank, which gives favorable financing terms to foreign governments and…
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Republican Study Committee Releases 2020 Budget Proposal
Congress is supposed to pass an annual spending budget, though it rarely gets around to it. Instead, the government is usually funded through a mashup…
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This Week in Ridiculous Regulations
While Washington’s “This Town” types geared up for the White House Correspondents’ Dinner, the rest of the country flocked to movie theaters for a much…
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Antitrust Regulation Turning into Campaign Issue
Both parties are making antitrust regulation a 2020 campaign issue. Neither President Trump nor most of the Democratic candidates are proposing improvements. Over at the…
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This Week in Ridiculous Regulations
The Notre Dame cathedral in Paris caught fire and sustained heavy damage. The rebuilding will likely take years, though people began politicizing it almost instantly.
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Blocking the T-Mobile-Sprint Merger: Competition, Rent-Seeking, and Uncertainty
Nationwide 5G networks are coming. They will expand possibilities for everything from smartphone applications to GPS to streaming video, and will enable new technologies that…
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New Study: The Case against Antitrust Law
Antitrust regulation is a complex, multifaceted issue. It brings together insights from law, economics, political science, history, philosophy, and other disciplines. Right now both political…
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This Week in Ridiculous Regulations
In a remarkable human achievement, scientists took the first-ever image of a black hole. The effort took eight telescopes on five continents, five petabytes of…
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This Week in Ridiculous Regulations
The news cycle was more sizzle than steak last week. President Trump threatened to shut down the southern border and backed off almost immediately, so…
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This Week in Ridiculous Regulations
Pundits spent the week engaging in mortal combat over the Mueller Report, which none of them have read, and spring officially sprung with baseball’s opening…
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This Week in Ridiculous Regulations
As tempers flared over how many “chuggas” to say before “choo-choo,” the 2019 Federal Register topped the 10,000-page mark last week and the number of…
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This Week in Ridiculous Regulations
President Trump has declared passing the new NAFTA/USMCA as his top legislative priority, but congressional ratification will not be automatic. Mexico and Canada are also…
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This Week in Ridiculous Regulations
Last week was low-drama by recent standards, but still had some important developments. The U.S. trade deficit set a record for the second year in…
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What Do Economists Think about the Minimum Wage?
The playwright George Bernard Shaw once said that if you laid all the world’s economists end to end, they would not reach a conclusion. President…
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This Week in Ridiculous Regulations
The Michael Cohen hearing shenanigans gobbled up the headlines, but actual substantive news happened regarding talks with China and North Korea—in particular, a planned tariff…
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This Week in Ridiculous Regulations
The federal government was on a four-day work week in honor of George Washington’s birthday, but agencies still found time to issue regulations ranging from…
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Say No to Trump’s Proposed Auto Tariffs
President Trump is mulling a tariff on automobiles. Joining a long list of people urging him against it is the Japanese auto industry. That opposition…