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OpenMarket: Richard Morrison

  • VIDEO: Reforming Antitrust for Global Competitiveness

    March 27, 2020
    The Information Technology and Innovation Foundation recently hosted its latest virtual event, “Reforming Antitrust Policy for an Era of Global Competitiveness.” ITIF President Rob Atkinson set up the discussion with the premise that European Union and United States antitrust policy may need to change—that is, loosen—to accommodate the consolidation of national champion-type firms in China.
  • Pandemic Economy: Toilet Paper Supplies Stretched, But Strong

    March 26, 2020
    American consumers, worried about the future of the coronavirus pandemic have continued to buy out available stocks of key products. However, temporary shortages are the exception that proves the rule: the American consumer economy is doing an extremely good job under extraordinary stress, and we have a decentralized market economy to thank for that.
  • Post-Corona Politics: Opportunities and Threats

    March 19, 2020

    There is a lot of attention being paid to the latest emergency legislation being proposed to address the coronavirus pandemic, from $1,000 checks for every American to paid leave for U.S. workers to a bailout for the airline industry. While those proposals are debated and implemented, however, we have the opportunity to think about what lessons the current crisis can teach us about longer term changes. Political observers often facetiously use the phrase “never let a crisis go to waste” to refer to a cynical attempt to hijack an emergency with unrelated priorities, but if the dislocations caused by our current...

  • Toilet Paper Economics: Emergency Capitalism Still Better Than Normal Socialism

    March 17, 2020

    There are quite a few hot takes circulating at the moment about how grocery stores temporarily running out of toilet paper amid the current coronavirus pandemic is a stinging indictment of a capitalist economy. Most of those takes are not serious enough to be worth refuting, but apparently it bears repeating that consumer choice in a free society during difficult times is still better than the options that are available under normal conditions in a socialist society.



    I blogged a while back about how most Americans who tell pollsters that they approve of “socialism” aren’t talking about the life they would experience under an actual socialist regime. When they say they like socialism they mean...

  • Sen. Toomey Defends Capitalism

    March 12, 2020
    This week Sen. Pat Toomey gave an excellent and much-needed speech at the Heritage Foundation on capitalism and its right-leaning critics. Toomey made clear that he anti-market measures promoted by self-described nationalists and populists would be a failure if enacted.
  • VIDEO: What Did “the Future” Hold for Public Policy in the 1980s?

    March 9, 2020
    The American Enterprise Institute has gone deep into its archives and posted dozens of old videos of roundtables and speeches going back, in some cases, over 40 years. Given the unfair advantage of hindsight, it is fascinating to see which ideas were vindicated and which have been refuted by subsequent events.
  • Big-Mouth CEOs Less of a Threat than Crusading Politicians

    March 4, 2020
    Free-market advocates are understandably skeptical of “stakeholder” capitalism—the idea that corporate managers should focus not just on returns to shareholders, but on pleasing a potentially long list of other groups that claim an interest in the operations (and on the profits) of a company. Any given board and management team can apportion their own resources as they see fit, of course, but we small-government types are wary of theoretically voluntary guidelines for social and environmental awareness being transformed into binding legal requirements down the road.
  • VIDEO: Trade Is Not a Four-Letter Word

    February 28, 2020
    Former Export-Import Bank Chairman Fred Hochberg recently made an appearance at the American Enterprise Institute to promote his new book, Trade Is Not a Four Letter Word: How Six Everyday Products Make the Case for Trade. Readers who are familiar with CEI’s position on Ex-Im will know we are not fans of its operations (or existence), but we are fans of international trade, so we were eager to hear what Hochberg had to say. Hochberg made a case for the advantages of open trade, using six different products to tell his story.
  • Two Cheers for Nikki Haley's Defense of Capitalism

    February 27, 2020
    Former U.S. ambassador to the United Nations Nikki Haley has written a bold and, for the most part, very good op-ed on the future of capitalism for The Wall Street Journal.
  • "Scientocracy" Highlights Problematic Incentives in Government Research

    February 25, 2020
    Yesterday CEI put on an excellent event on science policy on Capitol Hill on the new book Scientocracy: The Tangled Web of Public Science and Public Policy. The quick take is that government-funded and government-endorsed science is subject to at least as many problematic and confounding issues as any research funded by a profit-seeking corporation. The argument is not that science isn’t important enough for the government to become involved, it’s that it is too important to let the perverse incentives of political control hold it back.

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