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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 mass unemployment is rooted in a zero-sum mentality that fundamentally misunderstands how economies evolve. WASHINGTON, DC – In a recent discussion with British Prime Minister Rishi…
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 demographic groups following minimum wage increases. For most racial and ethnic groups at most ages we find that underpayment rises similarly as a fraction of…
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 evidence to support both broad public spending programs and policies designed to encourage personal responsibility and stable households. What is the best way to help…
September 23, 2023
Did Pandemic Unemployment Benefits Increase Unemployment? Evidence from Early State-level Expirations
Abstract During the 2021 pandemic year, the generosity of Unemployment Insurance benefits was expanded (Federal Pandemic Unemployment Compensation [FPUC]) and eligibility for benefits was broadened (Pandemic Unemployment Assistance [PUA]). These two programs were set to expire in September 2021. In June 2021, 18 states exited both FPUC and PUA and three states exited FPUC (but…
September 15, 2023
Why Industrial Policy Fails
With Democrats and Republicans alike supporting a shift from free markets toward government planning, the United States has clearly entered a new era of economic policymaking. Yet all the reasons why such strategies generally fail to make good on politicians’ promises are as valid as ever. WASHINGTON, DC – Industrial policy is all the rage…
January 5, 2023
Defending the American Dream with Michael Strain
Our interview this week is with the American Enterprise Institute’s Michael Strain. Michael is the author of The American Dream Is Not Dead: (But Populism Could Kill It), and we talk about how real blue-collar wages in America have not been stagnant for decades, despite what you might have heard.
December 15, 2022
The Myth of Income Stagnation
According to the conventional wisdom, income stagnation and inequality are large and growing threats to broad-based prosperity in the United States. Many economists, journalists, business leaders, and elected leaders (from both parties) believe that for a large share of households, real (inflation-adjusted) income has not increased for decades, and that income inequality – the gap between higher- and lower-income households –…
September 19, 2022
Men Without Work in the Post-Pandemic Era
Event Summary On September 19, Harvard University’s Lawrence Summers and AEI’s Michael Strain joined AEI’s Nicholas Eberstadt to discuss the new edition of Mr. Eberstadt’s book, Men Without Work: Post-Pandemic Edition (Templeton Press, 2022). Mr. Eberstadt began by describing the decades-long flight from work by prime-age (25–54) men and the broadening of that trend to other demographics…
February 27, 2020
The American Dream Is Not Dead: A Book Event with Michael R. Strain
Event Summary On Thursday, AEI’s Michael R. Strain presented an overview of his book “The American Dream Is Not Dead: (But Populism Could Kill It)” (Templeton Press, 2020). In his opening presentation, Dr. Strain emphasized that the American dream still remains available to Americans despite populist agitations that suggest the opposite. In making his case,…