American Institute for Economic Research

“Rather than consider whether the Fed should stimulate growth, we should recognize that its primary task is to prevent over- and under-production.” ~ William J. Luther

“Traditionally, NBER calls recessions and other phases of business cycles, but only retrospectively, and mostly just for scholars. Nobody actually involved in trading securities or making policy waits for its decisions and voters certainly won't.” ~ Robert E. Wright

“Chasing after sensational headlines predicting doom and gloom do us a disservice. It hides the progress we have made historically and prevents us from using this history to guide public discussions.” ~ Vincent Geloso

“As stated by Thomas Sowell, in Wealth, Poverty, and Politics, ‘Transferring the fruits of human capital is not as fundamental as spreading the human capital itself.'” ~ Kimberlee Josephson

Given that protectionism violates the central purpose of any government, which is to benefit all its citizens, it replaces the justice of voluntary arrangements with the injustice imposed by involuntary arrangements.

“Chair Powell has repeatedly claimed that the Fed will use its tools to create price stability. Will he and other Fed officials finally bring inflation back toward their stated two percent target?” ~ Thomas L. Hogan

“Can Congress quit the Fed's easy money policy that has allowed them to push debt levels well above 100% of GDP, or will the addiction demand more QE to support Washington's spending habit?” ~ Peter T. Calcagno & Edward J. Lopez

“It must be hard to keep people ruled by fear of a variant ‘BA.5' when the much more worrisome numbers impacting their lives and family are $5 gasoline and 9.1 percent inflation.” ~ Jon Sanders

“Consumer sentiment ticked up in early July but remains near record lows and consistent with prior recessions. Inflation is a driver of weakening consumer attitudes and contributing to elevated risks. The outlook is highly uncertain.” ~ Robert Hughes

“Stigler concluded that regulatory agencies are captured by the firms they regulate. Still, ultimately, it is the regulated firms that become captured by the legislators and regulators who have the power to terminate their regulatory protections.” ~ Randall G. Holcombe

“If the pandemic taught us anything about public perceptions of risk, it is that we must empower individuals to make decisions to improve their own situation rather than making it for them.” ~ Yaël Ossowski

“AIER's Everyday Price Index rose 2.4 in June, pushing the 12-month gain to another record high. Sustained price pressures, an intensifying Fed tightening cycle, and fallout from the Russian invasion of Ukraine remain threats to the economic outlook.” ~ Robert Hughes

“Any time it looks like there's a tradeoff between unemployment and inflation, something has gone very wrong. We could've avoided both horns of the dilemma if the Fed had done its job.” ~ Alexander William Salter

“The policy path to MAFA is clear, deregulate everything from Amtrak to monetary policy, while reinvigorating the Third Sector (nonprofits) and forming a Ministry of Truth to police all claims, and only claims, made by governments, government officials, and politicians.” ~ Robert E. Wright

“Since many kids dream of being pro athletes and sports generate billions in revenue, voluntary participation is not a problem. But sports generate enormous rents and competition to capture these rents ensures enduring strife between labor and management.” ~ Daniel Sutter

“While trains are not especially good for the environment, many people assume they are ‘green,' also allowing for some of the fake virtue signaling many American politicians seem to crave.” ~ Robert E. Wright

“Private-sector job openings and quits fell in May. The effects of rising interest rates and consumer caution are becoming more apparent. The outlook remains highly uncertain.” ~ Robert Hughes

“Since entitlements are off the table under threats of touching ‘the third rail of politics,' then proponents of fiscal discipline have been trying to reform and constrain an ever-smaller portion of the overall budget.” ~ Peter T. Calcagno & Edward J. Lopez

“America the Beautiful, I wish you a happy birthday. I thank you for your generosity over these decades, and I say sincerely, ‘Mind how you go.' The world needs your seeking to be fair and just, and full of possibility, not divided and rancorous, and a threat to yourself.” ~ Llewellyn King

“Martin Van Buren may not be everyone's favorite President, but he is worth studying. After all, an estimated 28 percent of Americans identify with the Democratic Party. People should at least know how their political party came to be and why it endured.” ~ Garion Frankel

“We have enough information to conclude policy mistakes, especially on the demand side, go a long way toward explaining today's inflation.” ~ Alexander William Salter

“Critical research has itself become taboo which, in turn, means that policy makers are making decisions based more on ideologically-driven political pressure than scientific fact.” ~ John Staddon

“While there isn't much that can be done in the short term to mitigate public school excess, taxpayers should at least be aware that public schools are using inflation as an excuse to extort them.” ~ Garion Frankel

“Hopefully, these lousy explanations will soon fade out of the public's consciousness. We need to focus on what matters: a comparative abundance of money over goods. ” ~ Alexander William Salter

“The renaming of an Army post should be a positive, not a negative statement. Renaming some of them should not be about erasing our history, but adding to our history. Heroes from the ranks of the common soldier should be honored.” ~ Clifford F. Thies

“The realities of Public Choice should make everyone think twice when asserting that the Fed or any agency should be doing something specific to fix the economy and that they will be able to make the right choice.” ~ Fernando M. D'Andrea & Ryan M. Yonk

“The regulations in the Lummis-Gillibrand Responsible Financial Innovation Act, made public on the same day as publication of Krugman's article, are far more likely to provide a brighter future than prohibiting cryptocurrencies, stablecoins or other digital assets.” ~ Gerald P. Dwyer

What is a better thing to celebrate than the liberty all Americans know to be their birthright? This is not a partisan victory, nor is it one of one time or another. It's a universal victory, because the cause of freedom is the cause of everyone.

“The fungibility of student loans means that taxpayers will be saddled with paying for parents' and students' non-college purchases. Many professors will, understandably, root for student-loan forgiveness.” ~ Richard McKenzie

“Monetary policy should be about money—not specific markets, but their common denominator. The sooner we enlist Friedman to help ‘run the show,' the faster we can clean up our economic messes.” ~ Alexander William Salter

“It's impossible to convey in words the amount of specialized knowledge, as well as the amazingness of modern building materials and tools, that are routinely, and entertainingly displayed in each and every episode of This Old House.” ~ Donald J. Boudreaux

“Our collective understanding of the history of school choice is lacking without a chapter on Paine. With Paine in hand, we can conclude that vouchers are neither a modern idea, nor fundamentally racist.” ~ Garion Frankel

“Allowing politicians to blame Putin, corporations, shipping firms, billionaires, insufficient taxation, ‘greed,' or other tired scapegoats is erroneous and misleading.” ~ Peter C. Earle

“Consumer sentiment plunged to a record low in early June and is consistent with prior recessions. Inflation is a driver of weakening consumer attitudes and contributing to elevated risks. The outlook is highly uncertain.” ~ Robert Hughes

“Despite the similarities between Atkinson and Musk, and the coordination between the ‘Administration papers' then and today's mass media echo chambers, there remained lines that the government was not prepared to cross.” ~ Robert E. Wright

“As far as public health crises are concerned, monkeypox is not in the same league as Covid-19. They are entirely different. But they share a disturbing similarity- their potential to expand and help retain government power. And this seems unpreventable.” ~ Raymond J. March

“We face even more difficult challenges ahead. We who believe in good economics and prudent political economy have our work cut out for us if we want to bring the rule of law to central banking.” ~ Alexander William Salter

“Research shows going organic globally can only feed about half the current world population. Organic farming will lead to more expensive, scarcer food for fewer people, while gobbling up more nature.” ~ Bjorn Lomborg

“The results of this study demonstrate, with more data and robustness than the CDC's own paper, that masks in schools are an ineffective tool against COVID-19. The CDC's decision not to publish this study in their journal only further discredits the agency.” ~ David Waugh

“We should expect more outbreaks in areas with a greater appreciation for economic freedom. Indeed, reports indicate the kindling wood has been there for some time. But don't worry; be thankful that people live in societies that allow such diseases to spread.” ~ Byron B. Carson III

“The Fed increased its federal funds rate target by 50 basis points in May 2022 and looks set to follow with similar rate hikes in June and July. The price level data from April shows no anticipatory effects of the policy.” ~ William J. Luther

“Fickle complaints, unrealistic expectations, and perpetual irritation over trivial aspects of goods or services are a just reward for permitting entrepreneurial risk-taking, economic calculation, and markets to operate freely.” ~ Peter C. Earle

“It's harder and harder to find good reporting, as the media is increasingly concerned with advancing a particular narrative, without concern for objectivity. Understanding it as gonzo journalism provides a helpful heuristic.” ~ Nikolai G. Wenzel

“When a recall or a shortage happens, parents would have far more options in a free market than in the current regulatory mess of cronyism and protectionism.” ~ Ryan Young

“If you do have a full breast of milk, consider donating or selling it to starving babies, though perhaps not directly as wet nurses did in the days of old. It is still legal, for now, even in often crazy California to sell your milk.” ~ Robert E. Wright

“With inflation raging at the highest rate in 40 years, it is time to reexamine the Fed's legitimate responsibilities.” ~ Nicholas Curott & James McClure

“It seems safe to predict that the percentage of white-collar workers reporting to their workplace every day may never reach the levels of early 2020. After all, working and living in the same place is just natural.” ~ Eli Lehrer

“Weekly initial claims continue to trend slightly higher, but the low level still suggests a very tight labor market. The Russian invasion of Ukraine, lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

“It's not a ‘you keep buying it, we'll make more' situation because if it were that simple, the formula manufacturers would be happy to have that revenue. With no clearing in sight from the perfect storm of supply issues, consumers will continue to struggle.” ~ Aron Solomon

“As argued in principle by Madison, confining our country's broad experiences with any issue or belief–in this case, gun legislation–to one sweeping federal action would miss the mark and create a great injustice to American federalism.” ~ David Gillette & Lauren Frazier

“Just like drinking, expansionary monetary policy can provide a temporary (or transitory) high at first (faster real output growth and reduced unemployment). However, the ill effects come later (in an inflation “hangover”).” ~ Gary M. Galles