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July 21, 2023
Why Freedom Conservatism Matters
On July 13, a group of journalists, policy wonks, and political activists opened a new front in the war for American conservatism. One-hundred-twenty-two signatories, led by Avik Roy of the Foundation for Research on Equal Opportunity and John Hood of the John William Pope Foundation, affirmed 10 principles that define “Freedom Conservatism.” It’s a meaningful…
July 19, 2023
Americans Aren’t Buying Bidenomics—Because They’ve Heard the Lies Before
President Joe Biden is desperately trying to sell Americans on Bidenomics, but they’re not buying it. Recent polls show only 39% of US adults approve of Biden’s economic leadership, and a majority of the country has disapproved of his overall job performance for almost two years. At this stage of a presidential administration, only Jimmy Carter had…
July 7, 2023
The 21st Century Decline of Economic Freedom
From 1850 to 2020, industrialized economies went from roughly $3,000 per capita to $40,000 per capita, inflation adjusted. This was also a period of expanding economic freedom, as documented in the new analysis, “Economic freedom, 1850–2020: New evidence” by economic historian Leandro Prados de la Escosura. There are two important things to note about that…
July 2, 2023
New York’s Quality of Life Budget: Focus on Improving Conditions for Everyday People First
With no little fanfare, the City Council passed legislation requiring New Yorkers to separate their food waste for composting. Unmentioned amidst the claims for environmental progress was the fact that, even in a less aggressive plan included in Mayor Adams’ budget, the city would have to add 158 collection trucks to its sanitation fleet, at a…
June 28, 2023
Is ‘Bidenomics’ Even a Thing, Really?
The White House is saying that President Biden’s speech today in Chicago will be on the subject of “Bidenomics.” The choice to use that term is a meaningful one, according to the Financial Times: Biden’s move reflects growing confidence inside the White House that he can gain more political credit for his sweeping economic legislation, which has pumped…
June 24, 2023
Family Affordability in America: A Story of Decline or Achievement?
On June 22, AEI’s Scott Winship and Angela Rachidi were joined by Oren Cass of American Compass and Idrees Kahloon of the Economist to review the evidence on family affordability in America. Event Summary The event began with presentations from the three panelists, each presenting original research on changes in the ability of the average…
June 22, 2023
The Cost of Thriving Has Fallen: Correcting and Rejecting the American Compass Cost-of-Thriving Index
AbstractThe Cost-of-Thriving Index (COTI), developed by American Compass Executive Director Oren Cass, asks whether families can afford a middle-class lifestyle. It compares the costs of five goods and services to the income of a typical full-time male earner. Cass concludes that the cost of thriving has increased dramatically, from 40 weeks of work in 1985…
June 21, 2023
The Bad Math Behind Economic Doomerism
It’s a big week for American Compass, a think tank founded in 2020 that fancies itself as the “pre-eminent alternative to the Old Right’s market fundamentalism.” On the heels of its new policy book, Rebuilding American Capitalism, it hosts an event on Capitol Hill today with multiple Republican senators. It’s the latest sign of the intellectual confusion afflicting…
June 15, 2023
Instead of ‘Late Capitalism,’ Maybe the US Economy Is Still in ‘Early Capitalism’
So how is the twilight of capitalism working out for you? What, you didn’t realize that you were living through “late capitalism”? Before I go on, let me first explain that term. The phrase dates back to the early 20th century — yup, we’ve apparently been in LC for a long time — when Werner…
June 14, 2023
Better Data Means Better Policy
“Did you adjust for inflation?” An occupational inconvenience of doing economic research is that you are routinely asked by disbelieving non-researchers whether your numbers have taken into account the rising cost of living. The answer to that question is nearly always, “Yes.” The debates among researchers are about how to adjust earnings and income for inflation, and…