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

October 19, 2020 3 min
Retail sales posted a strong gain in September, but persistent uncertainty regarding Covid-19 and government policies remains a significant risk to future growth.
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Perhaps the Fed’s move to average inflation targeting won’t make much of a difference. But it nonetheless risks further politicizing the Fed. To the extent that it means the Fed will engage in even more credit allocation and Congress will take a more active role in guiding those credit allocation discussions, there is cause for concern.
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This isn’t a binary world: it was never ‘Trump or nothing,’ or ‘Trump or Utopia.’ What can be reasonably ascribed to Trump is the minor difference between him and the next guy (who, in the grand scheme of things agrees with him on 95% of issues) – deflated by the sum of changes in technology, markets, finance, trends, fashion and even societal beliefs.
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Many people today seem almost eager to be misled about the danger posed by Covid. Much of humanity today appears to perversely enjoy being duped into the irrational fear that any one of us, regardless of age or health, is at the mercy of a brutal beast categorically more lethal than is any other danger that we’ve ever confronted.
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Will the Michigan plot be touted by the media to valorize every government official who placed any American under house arrest in response to the pandemic? It is possible to heartily condemn both nitwit conspirators and oppressive politicians. Unfortunately, the media will likely pay far more attention to the bluster of boneheads than to actual devastation produced by unjustified shutdowns.
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Salmon P. Chase, the greatest civil rights lawyer of that day, in particular, campaigned for Lincoln’s re-election. Then, on the day the Senate reconvened, Lincoln sent over a one-sentence message nominating Chase, who was then confirmed without debate, on a voice vote.
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Regardless of your vote this November, it is indeed time to join Biden in his call to follow “the” scientists, the ones who have signed the Great Barrington Declaration.
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Personal income fell in August as government payments declined. Ongoing restrictions on consumers and businesses continue to threaten the economic recovery.
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We should celebrate people like Scott Atlas who are willing to take the unpopular, minority view — maybe we can learn from them. We should pay careful attention once we know their opponents will not only sling mud, but will not even appear for a debate.
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Multiply my story by the hundreds of thousands of patrons of their favorite store, bar, restaurant or coffee shop all over the City — and the hardworking owners of these establishments who poured their souls, lives, and savings into them — and you have a partial measure of the human cost, not just of Covid, but of the draconian lockdown policy and the other death-by-a-thousand-cuts regulations that have magnified its harm.
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If these officials had our best interests in mind, instead of treating us like children or animals upon whom arbitrary punishment is inflicted in order to obtain obedience, they would contemplate the real problem and narrowly tailor solutions, taking into consideration the impact of any new policies on the population at large. That includes the economic and psychological consequences of lockdowns, mask mandates, and enforced social...
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As cities and states ease their lockdowns and restrictions, the Fed should continue to support the recovery with accommodative monetary policy. As Powell described, "A full economic recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities."
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October 1, 2020 4 min
On economic well-being, it’s clear that a country with an invasively large government sector and extraordinarily high taxes can still perform well. In the corona debates, the simplified story that lockdowns prevent spread and open societies kill people should be relegated to the dustbin of impressive theories at odds with reality.
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Governor Ron DeSantis has proven it: it is actually possible for a politician to wise up and do the right thing. In a sweeping order announced September 25, the governor has opened up the entire economy. He has even limited the ability of local governments to impose more restrictions and collect fines for mask violations.
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Governor Baker and the expert teams in statehouses across the country must find ways to give more small businesses the flexibility to solve the problems that state commissions both cannot and should never have tried to solve.
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Governor Newsom claims the right to dictate what sort of new cars Californians can buy, but not until 2035. When 2035 arrives, a different California Governor and legislature will surely ignore Newsom’s political time bomb. For one state to switch to electric cars would be demonstrably irrelevant to global warming, but not to the right of that state’s consumers to spend their earnings as they wish.
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Governments are fully capable of doing the unthinkable, and doing so suddenly with no exit plan, little consideration of cost, and a callous disregard for individual rights.
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Our civilization is threatened not by this virus, but by deeply flawed reasoning in how it ought to be managed. Unless we make clear to our politicians and our fellow citizens that they are wrong, and that our ability to engage in activities and pursuits that are critical to our well-being is not negotiable, we run the risk of leading this diminished existence for the remainder of our lives.
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September 23, 2020 4 min
A news outlet that posted a bond with a third party that would be forfeited if it insisted on publishing anything factually wrong, or crossed the line between journalism and punditry, could create the sort of trust that people once had in the New York Times and other papers of record, all of which essentially posted informal bonds backed by their reputations and expected future profitability.
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If President Trump has an ounce of decency, he should promptly pardon Edward Snowden, who at a very young age, with a promising career and his whole life ahead of him, put everything on the line to protect us from the very people who are supposed to be protecting us. Let’s hope that Trump does the right thing.
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