March 25, 2020
In his latest Bloomberg column, Noah Smith argues that offshoring production led to the current shortage of medical masks and equipment in the face of the coronavirus. The real question is: Why can’t we suddenly switch production and churn out millions of masks a day in the face of an unanticipated calamity? The answer to that is not offshoring, but regulation.
March 5, 2020
The past two weeks have seen a volatile market owing to concerns over coronavirus, which suggests an economic downturn could be on the cards. The administration can go some way toward heading this off with liberalization of trade.
March 3, 2020
The National Labor Relations Board finalized a rule last week that will bring much needed relief and certainty to the franchise industry and other industries that follow a certain business model. In 2015, the NLRB unilaterally changed the definition of “joint employer,” a change that opened the franchise business model to liability -- and posed an existential threat to the franchise business model.
December 20, 2019
How did a joint stock company founded in Elizabethan England come to replace the glorious Mughal Empire of India, ruling that great land for a hundred years? William Dalrymple’s splendid history, The Anarchy, tells that story—and purports to warn us about the perils of corporate power.
December 12, 2019
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 sets dangerous precedents for future policy.
July 26, 2019
Economic growth slowed in the second quarter of 2019, according to the Bureau of Economic Analysis. It remained above 2% thanks to a combination of personal consumption and federal and state government spending. Business investment, however, contracted. This suggests that tariffs are beginning to harm the economy, exactly as free market economics suggested they would.
June 20, 2019
Angela Nagle, an economic nationalist and author of “Kill All Normies,” recently argued on a podcast that, “Conservatives are starting to have these interesting debates internally about the fact that capitalism is not being their friend and helping their cultural project. […] The priorities of economic libertarianism no longer make sense."
May 22, 2019
Large U.S. companies slowed their investment in the first quarter of 2019, largely because of ongoing trade tensions between the U.S. and China. This is exactly what free-trade economics suggested would happen. When costs increase because of tariffs and uncertainty shadows the direction of trade policy, companies delay investment.
May 16, 2019
My colleague Wayne Crews has already slammed the White House for a first step towards government regulation of online speech in its “tech bias” complaints portal. It is interesting that the administration has followed the model of the problematic Consumer Financial Protection Bureau in simply collecting complaints as proof of problems with the industry concerned.
May 9, 2019
Facebook co-founder Chris Hughes, former publisher of The New Republic, argues in a long essay for The New York Times that the company should be broken up and regulated, and indeed that this would be the “American” thing to do.