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November 16, 2023

Work in a World of Abundance

AEI’s Michael Strain contends that, at least for the next several decades, it is highly unlikely that artificial intelligence (AI) will all but eliminate human jobs. This is largely due to the “creative” side of creative destruction. Innovation creates wealth, wealth creates demand, demand spurs employment. The amount of work to be done always increases. Over the…

By Brent Orrell

November 14, 2023

The Impact of Opportunity Zones on Private Investment and Economic Activity

Abstract Place-based policies aim to stimulate economic development in disadvantaged areas with the goal of improving the well-being of residents. A provision of the Tax Cuts and Jobs Act aimed to spur private investment in low-income areas called Opportunity Zones (OZs). We evaluate the impact of OZs on investment using data on the near-universe of…

By Kevin Corinth | Naomi Feldman

November 14, 2023

The Comeback City

Introduction “Given New York Today, Could Anyone Lead It?” So bemoaned a 1991 New York Times headline after decades of failure and futility.1 Crime was endemic, schools were failing, poverty was pervasive, and the economy had stagnated. From John Lindsay to David Dinkins, mayor after mayor had tried to tackle these problems. They had all…

By Robert Doar

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, it has been found wanting—at least, if you take the goal of working-class populism to be better opportunities and outcomes for the working class. And…

By Michael R. Strain

November 14, 2023

Did Child Poverty Really Increase Last Year?

In 2021, Democrats succeeded in temporarily expanding the child tax credit (CTC) as part of President Biden’s American Rescue Plan. Previously, the maximum CTC of $2,000 per child was available only to workers with income tax liability and who exceeded an earnings threshold. The expansion gave every family $3,000 per child—$3,600 for younger children—regardless of whether…

By Scott Winship

November 13, 2023

Family’s Place in America’s Social Fabric

The family is arguably the most basic building block of community life.[i] But even as Americans continue to say their own families are centrally important in their lives[ii], family life in the United States more broadly has changed dramatically in recent decades. At the same time, adults are finding satisfaction in their relationships with friends…

By Kim Parker

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…

By Michael Strain

November 13, 2023

How The IRS Discourages Boomer Charity

Americans like to call ourselves the most generous nation on earth — but charitable giving is on the decline. In 2022, it fell 3.4% (10.5% when adjusted for inflation) to fall under $500 billion. It was only the fourth such decline in 40 years. What’s more, individual giving —  distinguished from that of foundations and corporations…

By Howard Husock

November 11, 2023

Why is NYC Telling Teachers to Not Keep Kids Safe?

When you see something, should you say something? According to the Office of Children and Family Services, it depends on the race of the victim.  New guidance released last month for New York City teachers offers some unusual bits of advice. Rather than reporting suspected cases of abuse to the Administration for Children’s Services, teachers should actually…

By Naomi Schaefer Riley

November 9, 2023

What Dems — And NYC — Can Learn From The GOP’s Bronx City Council Win

Some will attribute Kristy Marmorato’s election as the first Republican to represent The Bronx in City Council in 40 years to selfish NIMBY-ism. And there is no doubt her opposition to two subsidized- (a k a “affordable-”) housing developments in the northeast Bronx (District 13) were a key factor in her defeating incumbent Democrat Marjorie Velazquez —…

By Howard Husock