The Mercatus Center at George Mason University recently released its newest edition of State RegData, a project that measures the level of regulation in each state. It is important for state policymakers to know how much regulation their state has since studies find that too much regulation raises prices, exacerbates income inequality, ...

During the Covid-19 pandemic, the idea of a guaranteed income (or universal basic income (UBI)) took off. Cities from Philadelphia to Compton partnered with philanthropists to conduct several experiments to examine the health and economic impacts of giving people money with no strings attached. The results of these and other programs have ...

President Joe Biden and former President Donald Trump are competing to convince voters that they alone can protect manufacturing jobs, promising to use tariffs, "Buy American" rules, and subsidies to get the job done. Their supporters praise their efforts, convinced that the manufacturing jobs once common in the 1950s and 60s are vital to ...

Major pieces of the 2017 Tax Cuts and Jobs Act (TCJA) expire at the end of 2025, at which time taxes will increase by over $400 billion annually. While the TCJA improved the federal tax code, Congress and whoever the next president is should look to the states for ideas to make it even better. A good tax code raises the revenue needed to ...

According to recently revised GDP growth data, the U.S. economy only grew at an annual rate of 1.3% in the first quarter of 2024, down from an earlier estimate of 1.6%. Neither number is particularly good compared to 1980s and '90s growth rates that regularly exceeded 4%. To improve growth and expand opportunity we must embrace a mindset ...

President Biden has been the regulator-in-chief since he took office, but lately he is taking it to a whole new level. According to the American Action Forum's regulatory tracker, Biden has imposed nearly $1.4 trillion of regulatory costs on Americans. Now more than ever, states need to streamline their regulations to counter the barrage ...

The Affordable Care Act (ACA), better known as Obamacare, turns 14 this Saturday. Its proponents claimed the ACA would lower costs and make health care more affordable. But after 14 years the data tell a different story. Former President Barack Obama signed the ACA into law on March 23rd, 2010. His administration wanted to make health care ...

More trade will enhance American power in the Indo-Pacific. Trade has fallen out of favor on the right and the left. Donald Trump and Joe Biden support tariffs and buy America policies that emphasize domestic production and impede global trade. Trade hurts our economy, they claim, and it undermines national security. Big if true, but they ...

The January jobs report beat expectations and there are still more jobs available than unemployed people. While this is good news for workers, it makes hiring challenging for employers. Policy reforms that remove barriers to work will expand opportunities for workers and make it easier for employers to find the help they need. The most recent ...

Texas's border situation is messy, but its economy remains strong and has been for years. Recently released data show that from 2010 to 2019 Texas led the nation in job gains from business relocations. Meanwhile, California led the nation in job losses from relocations. Texas's economic model of low taxes and modest regulation continues ...

The cost of housing in much of America is outrageous. The combination of land-use regulations that drive up construction costs and the Federal Reserve's interest rate hikes have made housing less affordable than at any time over the past 33 years. Virginia is no exception; its housing prices are 48% higher than they were at the peak of ...

The 2023 state elections were a disappointment for Republicans. In Virgina, Democrats took control of the House of Delegates after already controlling the senate. In Kentucky, Republicans hoped to retake the governor's mansion but incumbent Democratic governor Andy Beshears cruised to a second term. In 2024, 11 governor's mansions are up ...

New Hampshire ranks first in the most recent edition of the Fraser Institute's Economic Freedom of North America (EFNA) index. Florida and Tennessee round out the top three. More economic freedom is associated with more income growth and more population growth, so we should expect the economies of New Hampshire, Florida, and Tennessee to ...

New Jersey and New York have the worst business tax climates in the country according to a new analysis from the Tax Foundation. These states have been here before: New Jersey has come in last since 2018, while New York has placed 49th since 2019. Both states are losing people to lower-tax states, so now is a great time for each to make ...

According to the latest Consumer Price Index report, inflation was 0.4% in September and 3.7% over the last year. Core inflation, which excludes food and energy, was up 4.1% over the last 12 months. While both rates are about double the Fed's 2% target, in some parts of the country inflation is even higher. The Fed is trying to slow ...

California Governor Gavin Newsome has been popping up everywhere the last few months: Sean Hannity's show on Fox News, NBC's "Today" Show, and in Mississippi to promote his PAC. Now, he says he's traveling to China this month to talk about climate change. Everywhere he goes he claims the policies he champions in California are the path ...

The United Auto Workers (UAW) has been striking for 14 days as its negotiations with the Big Three of Ford, General Motors (GM), and Stellantis drag on. There is speculation that these automakers may move some production out of Michigan to avoid future labor disruptions and lower their costs, especially if the UAW refuses to budge on ...

The U.S. labor market remains strong despite the Federal Reserve's efforts to slow the economy to bring down inflation. The national unemployment rate is near historic lows at 3.8% and there are still more job openings than unemployed persons. In some metropolitan (metro) areas, unemployment rates are below 2%. Yet despite the extremely ...

Industrial policy is all the rage. The Biden administration is infatuated with tax breaks, subsidies, and mandates meant to encourage–or coerce–firms to locate or expand operations in America. Biden's team is primarily selling these actions as a way to strengthen national security, particularly in relation to China. But they are also telling ...

St. Louis and Kansas City are two of the Midwest's most well-known cities. Like many other Midwestern cities, both struggled in the latter half of the 20th century. Kansas City has grown faster than St. Louis since then, but a new study finds that both cities would have more employment and more people if they got rid of their ...

A good business climate encourages entrepreneurs to start new companies and can help states attract businesses looking to relocate. A new ranking from Venture Smarter ranks the 50 states and Washington, D.C. by how easy it is to start a limited liability company, or LLC. Wyoming, Florida, and South Dakota top the ranking, while California, ...

Despite its problems, the U.S. economy outperforms those of other large countries. As The Economist recently noted, America's 2022 GDP of $25.5 trillion was 25% of the world's total output. GDP per person is much higher in America than in Western Europe or Japan, and the gap is growing. Unfortunately, the golden goose of economic growth ...

During the pandemic, 43 states reduced taxes in some way, including Ohio. The Buckeye state consolidated tax brackets and cut its top marginal rate. Now, Ohio policymakers are considering another round of tax reforms that would create one flat income tax rate and reduce state subsidies to local governments. These reforms would improve Ohio's ...

One way to tell if a place is doing well is population growth. A city or state that is growing must be doing something right since people are choosing to move there. Similarly, a place that is shrinking must have some problems since people feel they need to uproot their lives to achieve their goals. The latest U.S. migration data show that ...

The Fed's efforts to slow inflation seem to be working, at least a little bit. The labor market is cooling down, putting less pressure on wages, while housing prices and new construction have both declined. Unfortunately, this slowdown in economic activity will likely come with a cost: According to Bloomberg's December 2022 survey of ...

Many economists are predicting a recession in 2023 due to the Fed's rate hikes to slow inflation, less fiscal stimulus, and weaker consumer spending abroad that will decrease U.S. exports. But for now, economic growth remains positive. Third-quarter U.S. real GDP growth was revised up to 3.2% in the latest estimate from the Bureau of ...

Nearly halfway through his first term, President Biden has imposed considerably more regulatory costs and paperwork hours than Obama or Trump at similar points in their presidencies. Despite Biden's barrage of red tape, the economy has managed to slowly chug along. But now the labor market is weakening and the chance of a recession is ...

Economic freedom is vital for economic growth. If government makes it difficult for people to start businesses, choose their own work arrangements, or invest in companies, economic growth will stagnate. According to a new study, Florida, New Hampshire, and South Dakota provide the most economic freedom to their residents. For the last 18 ...

Several issues are on state ballots next week, including gun control laws, tax increases, cannabis legalization, and alcohol delivery. In Illinois, residents will vote on Amendment 1 to decide what matters will fall under the scope of public-sector collective bargaining. Expanding the scope of collective bargaining would undermine worker ...

Third quarter GDP growth came in at 2.6%, reversing GDP declines in the first and second quarters, but there are still signs of economic weakness. Sales to U.S. consumers continue to slow, inflation remains high, and over the next decade the Congressional Budget Office predicts real GDP growth to average less than 2% per year. A struggling ...

Las November, President Biden signed the Infrastructure Investment and Jobs Act (IIJA) that included $550 billion in new spending on everything from roads and bridges to broadband. Supporters of the IIJA argued America's infrastructure is badly in need of new investment. While the need for more investment is debatable, a $1.7 million toilet ...

The key to economic progress is labor productivity growth–producing more stuff with the same (or fewer) number of workers. Unfortunately, America's labor productivity growth has been weak for several years. Nowhere is America's weak productivity growth more apparent than in the hospital industry. There are several policy reforms that would ...

It is way too difficult to build things in America, and politicians from both parties know it. In return for Senator Joe Manchin's (WV) support of the poorly named Inflation Reduction Act, Senate Majority Leader Chuck Schumer (NY) promised Manchin a vote on a federal permitting reform bill by the end of September. Meanwhile, Manchin's ...

Since the spring of 2022, the Fed's federal funds rate target–which is the interest rate banks charge one another for overnight loans–has increased to 2.5%, up from 0.25% in February. The Fed's actions have increased interest rates on everything from credit cards to mortgages. The higher mortgage rates are starting to bring down prices, but ...

U.S. economic growth has declined the past two quarters, a sign that a recession is around the corner. But even without a new recession, U.S. economic growth is stuck in a rut and President Biden’s agenda is making it harder for us to get out. In an important piece in City Journal, James Pierson notes how real GDP growth has slowed over the ...

Inflation is up 8.5% since this time last year according to this morning's CPI report. Economists expected the CPI to increase by 8.7%. Continued high inflation is lowering real earnings and undermining consumer confidence. The Federal Reserve has the biggest role to play in combatting high inflation, but better economic policies from ...

Senators Joe Manchin (WV) and Chuck Schumer (NY) recently agreed to a slimmed down version of the failed Build Back Better plan they are calling the Inflation Reduction Act (IRA). Manchin and other proponents of the IRA argue it will boost economic growth and reduce inflation, but this is unlikely, especially in states like West Virginia that ...

New data show that inflation remains high—up 9.1% over the last 12 months—and economic growth is slowing, so naturally talk of recession is filling the air. The ups and downs of the business cycle have real consequences, so concerns about a looming recession are understandable. But over decades, economic growth, not the business cycle, ...

A recent report from the Bureau of Economic Analysis (BEA) showed that national GDP shrank at an annualized rate of 1.6% in the first quarter, more than previously thought. New data released today, however, shows that some states experienced economic growth over the same period. The country may be teetering on the edge of a recession, but ...

The latest Consumer Price Index (CPI) report is in, and it is not good. Inflation rose by 1% in May and 8.6% over the last 12 months. Both are increases from April, meaning inflation does not seem to be slowing down. The Federal Reserve has increased interest rates to combat inflation, which is appropriate, but more can be done despite ...

Ukraine and Russia have been fighting for over 100 days now. Political leaders such as President Joe Biden have called the conflict a battle between "democracy and autocracy, between liberty and repression, between a rules-based order and one governed by brute force". President Biden is right to praise representative government, liberty, and ...

Inflation is still pounding consumers' wallets. The Consumer Price Index is up 8.3% over the last 12 months while the Producer Price Index–the selling prices domestic producers receive–is up 11%. Across the country, the price of gas hits a new high every day. In California the average price is above $6 per gallon. Inflation is exacerbated ...

Energy prices in America are on a tear. Energy inflation was 30% over the previous 12 months and U.S. retail gasoline prices hit a new high of $4.37 per gallon this week. Gasoline futures are up 9.4% since March, a signal that prices are unlikely to fall soon. Electricity prices are rising nationwide as the price of natural gas increases ...

Last week, Russia began enforcing its demand that European Union (EU) countries pay for Russian natural gas in rubles. Poland and Bulgaria were the first countries to have their Russian gas supplies halted, but they may not be the last: The European Commission reiterated that payments in rubles violate the economic sanctions placed on Russia. ...

The pandemic brought some much-needed changes to our healthcare system. Telehealth finally caught on after Congress loosened restrictions that had hampered it. Nurses are being recognized for their hard work as some states, such as New York, grant them full practice authority. Both pandemic-induced changes should make healthcare more ...

The latest inflation numbers are out and they are as bad as people predicted. The Consumer Price Index for all Urban Consumers (CPI-U) rose 1.2% in March and is up 8.5% over the last 12 months. The price of gasoline is on a tear, as it rose by 18.3% last month. Price increases at the pump and grocery store are easy for people to notice and ...

The U.S. labor market is doing fairly well despite the war in Ukraine and the lingering presence of Covid-19. The recent jobs report showed payrolls grew by 431,000 while the unemployment rate fell to 3.6%, only slightly above the pre-pandemic 3.5% rate. But there's a looming problem, too–inflation. The Fed has been acting more political ...

International trade has made the world wealthier and freer, but its popularity is waning in some circles. Supply chain disruptions due to the Covid-19 pandemic and Russia's invasion of Ukraine have caused many Americans to look inward, arguing for new policies to incentivize domestic production. A proposed bill in Florida, HB 619, would ...

At 7.5%, the inflation rate is the highest it has been since the early 1980s. One of the biggest drivers of inflation is the rising cost of energy. The price of gasoline is up more than 40% since January of 2021, while fuel oil is up 47% and electricity is up 11%. Russia's illicit invasion of Ukraine will only exacerbate these higher costs. But ...

Inflation is hot, hot, hot. The Consumer Price Index (CPI) was up 7.5% over the last year, the highest one-year jump since the early 1980s. Governors around the country are throwing out ideas to try to provide voters some relief, including one-time $500 checks and eliminating grocery taxes. These efforts are well-meaning, but they will not ...

Covid-19 did a number on America's small businesses, especially early in the pandemic. Now, the economy is bouncing back as the omicron outbreak subsides, and both consumers and businesses are optimistic that better days are ahead. While the pandemic-related hurdles businesses face are falling, the older hurdles that make life difficult ...

President Biden's misguided Build Back Better plan is on life support, so lately his administration has pivoted to touting the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA), aka the infrastructure bill. Public officials at all levels of government are understandably excited about all the ribbon-cutting ceremonies they will get ...

Covid-19 cases are rising as the omicron variant spreads, along with renewed talk of more federal spending to help the economy. Restaurants recently sent a letter to Congress requesting more federal aid and some members are open to sending more money to businesses hit hardest by Covid-19, such as gyms, restaurants, and performance venues. ...

Almost two years later, Covid-19 continues to disrupt our lives. Since the pandemic started, states have implemented different policies in response to Covid-19. Mask mandates, bans on large events, school closures, and vaccine requirements have all varied across states. Yet despite the disruptive effects of the virus and state policies aimed ...

President Biden's Build Back Better (BBB) plan passed in the House but remains controversial in the Senate, and for good reason: It would reduce economic growth, expand federal government and harm the states, and increase the federal debt. It is also filled with unfair spending policies, such as cuts in federal funding to hospitals in states ...

Thanksgiving is a time to gather with family and friends, eat delicious food, and watch football. It is also a time to reflect and give thanks for the many things that make our lives better. One of those things is economic freedom, and while its popularity is waning among younger generations, the empirical evidence is clear: More economic ...

Last Friday, the House passed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA). The Senate passed the bill over the summer so now it goes to President Biden for his signature. With the infrastructure bill done, the focus shifts to the other piece of Biden's agenda, the reconciliation bill, also known as the Build Back Better ...

Today the BLS announced only 194,000 jobs were created in September, far below expectations. There are still over ten million unfilled jobs across the country, while the total number of employees remains about five million lower than in February 2020. Some of this labor gap will shrink over time as Covid-19 subsides, but there are ...

Back in August the U.S. Senate passed a $1.2 trillion infrastructure package. It contains significant spending on things typically not considered infrastructure–electric vehicles, broadband, abandoned mines–but if you squint you can see some spending on roads and bridges. It's unclear whether the bill will make it to the President's desk, but ...

The August jobs report was disappointing: over 700,000 jobs were expected, but only 235,000 were created. The total number of people employed is still about five million lower than in February 2020 yet demand for workers is high–there are currently 1.3 job openings for each unemployed worker. Several factors are contributing to the slow ...

Last year, California's population decreased for the first time in recorded history and it lost a congressional seat. The state is starting to develop two-tiered society, with higher-income, educated tech workers clustering in the major coastal cities while lower-income, less-educated workers are relegated to the interior of the state or ...

ICU beds are in short supply in many states as the delta variant of the SARS-CoV-2 virus makes its way through the country. Alabama has reportedly run out of ICU beds, while states such as Georgia, Florida, and Kentucky have occupancy rates over 90%. While extreme events like pandemics will always stress hospital resources, regulations ...

America is engaging in an unprecedented spending spree. The Committee for a Responsible Federal Budget estimates that the infrastructure proposal and the proposed $3.5 trillion reconciliation spending plan will result in $2.9 trillion (about $8,900 per person) of additional government borrowing over the next decade. This debt will not solve ...

Prices are going up. The year-over-year consumer price index (CPI) hit 5.4% in June, which is more than forecasters expected. Even when food and energy are removed, prices are up by 4.5% over the last 12 months, meaning everyone's dollars buy less stuff. Increases in demand and higher costs are two common reasons prices rise. Public policy ...

Getting tax policy right is important. Some taxes are necessary, but how a government raises tax revenue matters since taxes affect behavior. Income taxes are a common source of revenue, but taxing income causes people to work and save less, which reduces economic growth. Recognizing this, some people in Arkansas want to eliminate the ...

The economy is getting stronger by the day, but that does not mean all is well. Prior to the pandemic, a tight labor market and robust wage growth had reduced the official poverty rate to 10.5%, the lowest rate on record. This was good news, but even 10% seems high. To reduce poverty even further, we need to unleash the potential of our ...

In some ways the U.S. economy has already recovered from the pandemic. Real GDP is nearly back to where it was in the fourth quarter of 2019 and should surpass that mark when the next reading comes out in a few months. Consumers are also spending money, with personal consumption expenditures actually higher now than pre-pandemic. The labor ...

It is no secret that U.S. economic growth was weak for most of the past two decades. Recovery from the dot-com bubble and the financial crisis was slow, and it was not until just before the pandemic that wage growth accelerated. Now, just when things are starting to open up, federal policy is on the verge of taking the wind out of the ...

The April jobs report was a disappointment. Prognosticators expected a gain of over one million jobs in April but only 266,000 new jobs were created according to the BLS. Issues such as continued anxiety about the virus and a lack of childcare options are likely part of the cause, but policy matters, too. Labor markets in states with ...

President Biden's recent infrastructure proposal has a $2 trillion plus price tag and he's looking for a way to pay for at least some it. During his campaign, President Biden said he would not raise taxes on anyone earning less than $400,000 per year. Since direct tax increases on most people would break his campaign promise, Biden is ...

President Joe Biden recently released plans for a $2.3 trillion dollar "infrastructure" bill that wants taxpayer dollars for all manner of things—regional innovation hubs, climate change research, workforce training programs, home care services for the elderly, and public housing. If you squint, you can see some money for what most people think ...

Covid-19's impact on the labor market is still unfolding, but one of its biggest impacts so far has been on where people work. Prior to the pandemic, only about 5% of Americans typically worked from home. By the summer of 2020, 42% of the labor force was working from home full-time and many people still are. This new ability to work from home ...

Last month, the city of Providence, Rhode Island considered an expansion of a historic overlay district near Brown University. Fortunately, the committee decided to delay the expansion to study the issue further. If used appropriately, historic designations can protect significant historical buildings and foster an appreciation for the past. ...

As spring approaches, things are looking up. The economy continues to improve and the Biden administration recently announced there will be enough vaccines for every adult in America by May. Some states are so excited to get back to normal that they are lifting mask mandates and allowing businesses to open to capacity. But while economists ...

Covid-19 has shaken up the country's labor market, accelerating trends already underway before the pandemic. Social distancing and other measures taken to mitigate the crisis weakened demand for restaurants, bars, hotels, in-person shopping, airlines, and other businesses that rely on face-to-face contact. While demand for these businesses ...

President Biden has advocated for organized labor throughout his political career. During the most recent election, he expressed his support for the Protecting the Right to Organize (PRO) Act, which would ban state right-to-work laws, require employers to provide employees' personal information to union leadership prior to union ...

It is time to rethink America's social safety net. Not because it is broken, but because it is working all too well. The current safety net does what it was designed to do, namely make poverty easier to endure rather than easier to escape. A social safety net that discarded the current patchwork of government programs and instead provided a ...

2021 is right around the corner, and I think most of us are ready for it. The nearly 11 year economic expansion that began in June of 2009 ended in 2020 as state and local governments across the country shut down their local economies in an effort to combat Covid-19. Since employment hit its low point in April it has been steadily bouncing ...

California's overbearing AB5 law that prevents people from earning a living as independent contractors took a major blow in November when the state's voters chose to exempt drivers for ride-sharing companies Uber and Lyft, the original targets of the law, along with other gig-economy workers. Unfortunately, many other workers remain under the ...

Thanksgiving is here! Unfortunately, a time traditionally spent surrounded by family, friends, and lots of turkey is mired by the continuing pandemic. The recent increase in cases has caused many people to curtail their travel plans and some state and local governments are reimposing restrictions not seen since the spring. But Thanksgiving is ...

The October jobs report showed another gain of 661,000 jobs in September and the unemployment rate fell to 7.9%. Still, the increase wasn’t as strong as expected and the economy remains a long way from full strength—only about half of the jobs lost in March and April have returned, with city centers bearing the brunt of the losses. ...

The economy is slowly improving but the damage has been done, and Fall could bring more. Across the United States, nearly 15 million people are still receiving unemployment assistance as a result of Covid-19 and the associated government restrictions on the economy. The pandemic has permanently altered the labor market and many people ...

Covid-19 and accompanying government restrictions meant to slow its spread have drastically reduced economic activity. Government budgets are also taking a hit since less people working and buying things means lower tax revenue. One recent study estimates that total state tax revenue will fall by $80 billion to $125 billion this year. ...

The U.S. economy is hurting—GDP is estimated to have fallen by nearly 10% in the second quarter. This decline isn’t surprising since large portions of states’ economies have been shut down for months due to the pandemic, but it has worsened the country’s and states’ already bleak fiscal situations. Understanding the damage is important, but ...

Last week it was reported that the California Labor Commissioner’s office sued its first company to enforce Assembly Bill 5 (AB5), the state’s 2018 law that requires a three part test to determine whether a worker is allowed to be an independent contractor. AB5 has caused thousands of independent contractors throughout California to lose ...

The economic lockdowns related to Covid-19 have devastated America’s economy. Over 20 million people are still receiving unemployment benefits. The United States is officially in a recession and the IMF projects global economic output to decline by 5% in 2020. Some are arguing for more government spending and intervention to prop up the ...

Building and maintaining infrastructure—roads, bridges, sewage systems, water pipes—has long been viewed as a core function of government, and politicians on both sides of the aisle regularly advocate for more infrastructure spending. The Trump administration is reportedly preparing a $1 trillion dollar infrastructure spending plan, ...

The economy has taken a big hit from COVID-19. Since social distancing and government mandated shutdowns began in March, more than 29 million people have filed for unemployment insurance. The April unemployment rate was 14.7%, more than four times larger than the February rate. New research suggests the labor market is undergoing ...

Many state and local officials are asking the federal government for more money to deal with the economic downturn connected to COVID-19. With government revenues falling, they argue that without federal assistance they may have to cut personnel, such as police and firefighters, or scale back other public services. Significant decreases in ...

As the COVID-19 situation stabilizes in many states, at least temporarily, state and local officials are beginning to form plans for relaxing the restrictions on their economies. While the details of these plans will vary from place to place, state and local governments everywhere must improve their fiscal situations and make their economies ...

As of April 5th, there were over 335,000 confirmed cases of COVID-19 in the United States. New York has experienced the worst outbreak, and a recent analysis suggests that’s not surprising. COVID-19 appears to be primarily spread by person-to-person contact, so states with large cities and labor markets that facilitate the mixing of people ...

The economic slowdown caused by COVID-19 presents an immediate challenge for state and local governments. Many of them only recently regained their footing following the last recession, and now, with conventions and sporting events postponed, businesses temporarily closed, and consumers staying home, government revenues are projected to fall ...

Cronyism is a real drag on the U.S. economy. Some people blame “big business” for seeking favorable treatment, while others put the blame on opportunistic government officials looking to win votes. The truth is both sides are responsible for perpetuating the cronyism that undermines competition and rigs the economy against consumers. Cronyism ...

Health care in the United States is expensive. Health insurance premiums and out-of-pocket costs continue to rise, driven largely by higher prices at hospitals and other health care providers. The costs of the two big government programs—Medicaid for lower-income people and Medicare for the elderly—also continue to rise. Recent research from ...

State and local governments often use firm or industry-specific tax incentives in attempts to improve their economies. Several studies that examine the effects of narrow tax breaks and subsidies—including movie production subsidies, stadium subsidies, enterprise zones, and others—find that while tax breaks often help the firms or industries ...

The interstate highway system is over 50 years old and many portions of the system need repairs or upgrades. As we debate the future of the interstate highway system in light of advances in smart infrastructure and autonomous and electric vehicles, it’s worth considering whether some portions of the system should be removed, especially ...

There’s evidence that wealth inequality is increasing, and some politicians are using this evidence as a justification for revitalizing labor unions. Many Democratic presidential candidates support the Protecting the Right to Organize (PRO) Act, which would ban state right-to-work laws that currently prevent unions and employers from ...

The country is still adding jobs, though at a slower pace than last year. The Bureau of Labor Statistics (BLS) reported an increase of 136,000 jobs in September and a decline in the U.S. unemployment rate from 3.7% to 3.5%. The national jobs report, however, hides a lot of labor market variation at the state and local level. Some local ...

America has a corporate welfare problem. State and local governments all over the country give special treatment to select companies in the form of grants and tax breaks, eroding the spirit of fair competition that is the foundation of the free enterprise system. The Export-Import Bank (EXIM Bank) is just one example of the federal ...

Despite what we often hear, the world is getting better. On a global scale, there’s less poverty, less income inequality, and people have more opportunity than ever before. Yet there’s also reason for concern. Since the early 2000s productivity growth has slowed in many wealthier countries which means living standards aren’t improving as fast ...

Many of the 2020 Democratic presidential candidates—including Senators Elizabeth Warren (D-MA) and Bernie Sanders (D-VT)—support some type of federal single-payer health insurance program, often referred to as “Medicare for all” in reference to the current federal program covering older Americans. These candidates and their supporters claim such ...

Price controls cause serious problems but that doesn’t stop politicians from proposing them. The minimum wage—which is a control on wages—has been in the news for years and recently rent control and interest rate caps on credit cards have joined it in the headlines. Proponents of price controls claim they help, but a closer look shows that ...

There is a lot of debate around the minimum wage. Some see it as a fairly straightforward way to help low-income workers. Others emphasize the negative effect it has on employment. Fewer employment opportunities are bad in their own right, but the harmful effects of minimum wage increases are likely spilling over to entire neighborhoods. There ...

Local zoning policy in America is dreadful. There’s robust evidence it increases housing prices by restricting supply, making many cities unlivable for people with low or modest incomes. Yet despite rampant criticism, restrictive zoning persists. A new book that analyzes collusion between the economic and political elite helps explain ...

Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Ed Markey (D-MA) recently introduced a Green New Deal resolution (earlier draft here) that calls for a host of policies, including free education, guaranteed jobs, and a nationwide mandate for 100% renewable energy, all within a 10-year plan. All of this may sound great, but like many grand ...

America’s infrastructure is often described as crumbling, broken-down, and out-of-date by politicians from both sides. While the reality isn’t so dire, there are obvious infrastructure issues throughout the country, such as New York’s subway, D.C.’s metro, and almost any road in Michigan.
So even though the country’s infrastructure is not as ...

The most recent U.S. employment report shows that 211,000 jobs were created in November, extending the current streak of job creation to its 69th month. Among politicians — both those in office and those who wish to be — the number of jobs created has become the most important statistic of the current economic recovery.For example, ...