Should the US Congress Audit the Federal Reserve?
Should the US Congress Audit the Federal Reserve?
The Federal Reserve system, including its twelve regional district banks that issue our US currency, is a creature of Congress, which passed the Federal Reserve Act in 1913 to create our central bank. The Fed is neither part of the executive branch of the federal government, nor is it an independent federal agency within the...
By Jane Johnson
Separating Information from Disinformation: Threats from the AI Revolution
Separating Information from Disinformation: Threats from the AI Revolution
Artificial intelligence (AI) cannot distinguish fact from fiction. It also isn’t creative or can create novel content but repeats, repackages, and reformulates what has already been said (but perhaps in new ways). I am sure someone will disagree with the latter, perhaps pointing to the fact that AI can clearly generate, for example, new songs...
By Per Bylund
Inflation Remains Elevated. Is Money Actually Tight?
Inflation Remains Elevated. Is Money Actually Tight?
There’s been another bump in the disinflationary road. The Bureau of Labor Statistics announced the Consumer Price Index (CPI) increased 0.4 percent in February and 3.2 percent year-over-year, exceeding many economists’ predictions. That’s up slightly from January’s 0.3-percent monthly and 3.1-percent annualized increases. Much of the increase is due to shelter and gasoline prices, which...
By Alexander William Salter
The Great Ponzi Scheme
The Great Ponzi Scheme
The United States is in fiscal trouble. The burden of government spending has increased by nearly $3 trillion over the past 10 years—nearly doubling in just one decade! And that means more resources diverted from the economy’s productive sector, which is bad news whether the spending is financed by taxes, borrowing, or money printing. To...
By Daniel J. Mitchell
Debunking All the Main Arguments for Antitrust Laws
Debunking All the Main Arguments for Antitrust Laws
It does not take too much upstairs to see through the Biden administration’s rejection of the JetBlue-Spirit Airlines merger. The latter is on the verge of bankruptcy. It is $1.1 billion in debt. It faces the headwinds of a new labor agreement raising pilot pay by 34% and has trouble with its Pratt & Whitney...
By Walter Edward Block
‘Laissez-Faire’ Sweden Had the Lowest Mortality in Europe From 2020–2022, New Analysis Shows
‘Laissez-Faire’ Sweden Had the Lowest Mortality in Europe From 2020–2022, New Analysis Shows
Gore Vidal once said “I told you so” are the four most beautiful words in the English language. Perhaps this is why it’s difficult to resist sharing new data that show how Sweden’s much-maligned pandemic response was right after all. For those who’ve forgotten, Sweden was excoriated by corporate media and US politicians for its...
By Jonathan Miltimore
Fiscal policy favoritism hurts everyone
Fiscal policy favoritism hurts everyone
Tax policy in Michigan makes no sense. It’s a seesaw that favors those who back the winning candidate in a general election. Members of each party work to deliver preferential tax treatment for supporters and buy favorable, job-related press coverage. It doesn’t matter if Republicans or Democrats do it — it’s wrong either way and...
By Michael D. LaFaive
Is Inflation on the Rise Again?
Is Inflation on the Rise Again?
Inflation picked up in January, according to the latest data from the Bureau of Economic Analysis (BEA). The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew at a continuously compounding annual rate of 4.1 percent in the first month of the year. The PCEPI has grown at...
By William J. Luther
Wendy’s Denies ‘Surge Pricing’ Allegations, But What’s So Bad about Experimentation?
Wendy’s Denies ‘Surge Pricing’ Allegations, But What’s So Bad about Experimentation?
Wendy’s came under considerable fire this week after news broke that the fast-food chain was planning to test a new “dynamic pricing” model. Part of a $20 million initiative experimenting with digital menu boards, the move was roundly condemned as an attempt to implement “Uber-style” surge pricing. “There are people who view dynamic pricing as...
By Patrick Carroll
Why Painting Without a License Could Soon Be Illegal in Minnesota
Why Painting Without a License Could Soon Be Illegal in Minnesota
For years, my daughter, who is 12, has asked to have a room in the basement. My wife finally relented, and the two of them recently gave a fresh paint job to what will be her new room on the lowest level. I’m relieved they got the job done quickly, because a new bill (SF...
By Jonathan Miltimore
The last thing Michigan needs is rent control for mobile home parks
The last thing Michigan needs is rent control for mobile home parks
Lawmakers in Michigan are considering bills that would impose rent control on mobile home operators. Five bills before the Senate create many new regulations, including restrictions on owners of manufactured housing communities. Instead of determining their rental rates independently, they would have to submit any rent increases above the inflation rate to a state board...
By James M. Hohman
In the Beginning, Free Enterprise Built Northwood. Now Northwood Builds Free Enterprise.
In the Beginning, Free Enterprise Built Northwood. Now Northwood Builds Free Enterprise.
As with all storied institutions, Northwood University’s history contains a mix of different chapters. Some were written on specific dates, while others only became discernible over time. It’s the latter that transpired when one looks at the progress made from Northwood’s beginnings to our present status as America’s Free Enterprise University. It was a time...
By Jennifer Panning
Champion Entrepreneur and Athlete: The Willie Davis Story
Champion Entrepreneur and Athlete: The Willie Davis Story
Willie D. Davis was born July 24, 1934, in Lisbon, Louisiana, and died April 15, 2020, in Santa Monica, California, just shy of age 86. Davis had the rare distinction of being revered as both an iconic entrepreneur and athlete. At age 8, Willie’s father left the family, and his mother had to raise three...
By Dr. Timothy Nash, Jeff Curtis
Remembering Dr. Gwartney: One of the most important scholars of his generation
Remembering Dr. Gwartney: One of the most important scholars of his generation
The cause of freedom lost one of its foremost champions earlier this year when Dr. James Gwartney passed away in January at the age of 83. Dr. Gwartney lived a remarkable life, rising from humble beginnings to become one of the most important scholars and teachers of economics in his generation. His work in the...
By Dr. Dale Matcheck