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June 10, 2024

Employment and Labor Supply Responses to the Child Tax Credit Expansion: Theory and Evidence

Abstract The 2021 Child Tax Credit (CTC) expansion increased government benefits to families, and especially to families with the lowest incomes. Economic theory predicts that this policy intervention would have…

June 10, 2024

The Economic World We’ve Lost

Populism has infected both major parties in the United States, leading to policies that previous generations of economic policymakers would immediately recognized as foolhardy and counter-productive. But whether the country…

June 4, 2024

What Comes After Neoliberalism?

The steep tariff increases on Chinese goods that US President Joe Biden’s administration recently announced are just the latest in a long string of interventionist economic policies that fly in…

May 13, 2024

The American Dream Is Alive and Well (and the Problem of US Inequality Greatly Exaggerated)

Don’t listen to the populist naysayers: The U.S. economy continues to deliver jobs, higher wages and upward mobility for those who need it most. What do former President Trump and Bernie Sanders have…

December 18, 2023

The State of Democratic Capitalism: 2023

How to assess the health of democratic capitalism in the United States? Fundamentally, it is very strong. The marriage of democratic politics and a free-market economy continues to strengthen each,…

December 14, 2023

The Myth of the 1%

The skewing of income toward the top 1% of earners has become a central issue in American politics, with both Republicans and Democrats proposing higher taxes on the rich. But…

November 14, 2023

Forget the Economics of Grievance

Introduction Donald Trump’s ascendancy has inflicted many changes on the right, including substantially altering its posture on economic issues.1 Where this blend of economic nationalism and conservative populism has been tried,…

November 13, 2023

The Jobless AI Future Is Still a Long Way Off

Tech billionaire Elon Musk recently prophesied that there “will come a point where no job is needed,” owing to advances in artificial intelligence. But the fear that AI will cause…

October 30, 2023

Does Wage Theft Vary by Demographic Group? Evidence from Minimum Wage Increases

Using Current Population Survey data, we assess whether and to what extent the burden of wage theft — wage payments below the statutory minimum wage — falls disproportionately on various…

October 17, 2023

What Poor Children Need

When it comes to helping poor children in America grow up to enjoy successful adult lives, progressives and conservatives each have half the truth on their side. There is strong…