American Institute for Economic Research

American Institute for Economic Research

The American Institute for Economic Research, also known as AIER, is an economic research institute located in Great Barrington, Massachusetts. It was founded in 1933 by the 20th century economist Edward C. Harwood with the intention of protecting individual rights and continues to produce quality content on subjects of policy, philosophy and economic science.... Show More

Episodes

March 5, 2021 4 min
Governor Cuomo has had too much control for too long; he has obviously enjoyed wielding it since Day 1. As I have said again and again, until we make clear that we will not abide by these infringements on our civil rights, our liberty, and our dignity, they will not stop. Unfortunately, New Yorkers have proven themselves all too willing to comply.
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Governors who continue to impose lockdowns and mask mandates are fast becoming as popular as Red Sox fans in the Yankee Stadium bleachers, at least in half of the country. The internal polling is out, and the draconian restrictions are being abandoned in droves. History will not be kind to the remaining high-handed holdouts.
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I empathize with those desiring that the name of the 3.1 mile bridge should revert to Tappan Zee; other recommendations would undoubtedly include renaming the structure for a deceased serviceman or woman, the 9/11 attack victims, or a different New York State Governor. (DeWitt Clinton, who facilitated the building of the Erie Canal, often comes up.) But I disagree with all of those.
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Like Bryan Caplan, I love learning so much I decided never to leave school. I live for the lightbulb moments students have when they realize what economists mean by "at the margin" or when they start using and applying the concepts we cover in class. Economically speaking, those are private benefits, however, and the case for sticking taxpayers with the bill is shaky indeed.
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Throughout history, governments have identified emerging threats and sought to eliminate them through heavy-handed bans, or regulations so stringent that they are effectively bans themselves. But the only thing that is guaranteed through these actions is certainly not the eradication of the ‘undesirable’ product or behavior––it’s the human tendency to find new and innovative workarounds in the face of obstacles.
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The political forces supportive of anti-growth policies such as trade restrictions, higher minimum wages, perverse energy regulations, and cronyism appear to be on the rise, and they will dampen future growth. But inflation is going to be the big story of the post-pandemic economy. Get ready for an inflationary ride.
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February 25, 2021 4 min
If politicians cannot follow a code on their own, they are more unpredictably dangerous than any drug robber or Mandalorian following a strict code with consequences. The American people need to find a way to impose a binding code on politicians because "this is the way" to a more prosperous future for all.
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Here we are a full year later, with the reports of lockdown carnage pouring in by the day and hour. It’s a gigantic mess, to be sure, but the end does seem to be in view, and thank goodness for that. Let the blowback begin.
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California and Florida provide a clear example for the dubious efficacy of Covid-19 restrictions. Their disparities elucidate the enduring costs of lockdowns with regard to the economy and livelihoods of residents. The states also pave the way for us to better understand whether authoritarian measures truly work in controlling a virus and, on a greater scale, the trajectory of human behavior.
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That one of the results is the loss of power and water for millions of people, endangering lives across the whole state of Texas, is fully in keeping with the Medieval approach to pandemic management.
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Governments are fond of dictating maximum prices and minimum wages. To the economically ignorant, these policies appear humane and worthwhile. But when examined through the lens of economics, these policies are clearly revealed to be harmful to the very persons they are ostensibly meant to help.
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The buck does indeed stop with the elected leaders who made the fateful decisions to send sick COVID patients into nursing homes, lock down their states, and mask up their citizens in perpetuity, but that’s only half of the story. The bad data they used almost exclusively came from the Gates network, which has trafficked in pseudoscience and has demonstrated complete incompetence and reckless forecasting since the beginning of last...
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This tragic imposition of command-and-control by politicians means progress against career-ending injuries for athletes will likely slow, the discovery of what will eventually render the internet primitive will similarly be rendered a more distant object, and then progress against diseases that still kill us will have been relatively suffocated. All so politicians could "do something."
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Initial claims fell slightly but continuing claims jumped sharply. Along with the disappointing jobs report, recent data suggest the labor market remains weak.
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Politicians are quick to ignore the costs of government spending in proposing legislation and obscure those costs by issuing debt rather than raising revenues. It is politically popular to issue debt and send checks to everyone. The benefits of the policy are clear: people get checks. The costs, which ripple out through financial markets as interest rates are bid up, are difficult to tie to the policy.
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When Suu Kyi won her reelection early this year in a landslide, Myanmar’s generals had had enough. They reassumed power and on February 1 dispatched five soldiers to arrest Bo Bo at his home in Myanmar’s new capital Naypyidaw. Commented a banker in Yangon, "It’s a circular firing squad around here." Free Bo Bo! Free the world economy from zero sum generalists.
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That we will look back with astonishment at what has happened to the world is a near certainty. The folly! And people of the future will never stop asking that great question of why. The answer is finally unsatisfying. It was a massive screw up by people and groups who wanted to try something completely new, none of whom were willing to bear responsibility for the results. It will be up to the rest of us to pick up the pieces and g...
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When the anti–price gouging law is in effect, being able to buy a necessity here is a matter of timing: being on store premises at or shortly after a shipment arrives. Then you can buy it, and not even at the market price, but at the pre-emergency price enforced by the government. Everyone else is out of luck.
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Can the TSA reform its searches and other procedures so that its own employees avoid getting denounced as “Typhoid Marys?” Is “social distancing” from boneheaded enforcement agents asking too much? Alas, it is difficult to expect reasonable policies from an agency that still seems inspired by one of its first mottoes: “Dominate. Intimidate. Control.”
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Never before in the history of humanity have governments imposed universal rules for how close we can get to each other in the normal course of life. Does this not trigger some sense that we are being trolled? It should.
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