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AEITaiwan-based Foxconn will invest $10 billion in the US and we can thank America's trade deficit for that inflow From today's Milwaukee Journal Sentinel article “Foxconn to announce billions in investments and thousands of jobs for Wisconsin“: MADISON – Foxconn Technology Group [a Taiwanese multinational electronics contract manufacturing company headquartered in New Taipei City, Taiwan] will announce at the White House on Wednesday its plans to invest $10 billion to build a massive display panel plant in Wisconsin that would employ thousands. “It does represent a milestone in bringing back advanced manufacturing, specifically in the electronic sector, to the United States,” a Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEIDownsizing the CBO won't make it easier to pass unpopular legislation The Congressional Budget Office (CBO) has been criticized for providing inaccurate and misleading estimates of Republican proposals to repeal and replace Obamacare. Those complaints are par for the course whenever a CBO score does not live up to the claims of a bill's sponsors. Republican dissatisfaction has now reached a new level, with proposals to slash the CBO's budget and eliminate the agency's ability to produce cost estimates. Finding consensus among Republicans and reforming the US health care system is difficult work. Attacking the Congressional Budget Office will not make it Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEIAmerica's lopsided economy: Tech job edition Congressional Democrats say they're attacking “monopolies and the concentration of economic” power with their “Better Deal” policy agenda. But perhaps the more relevant issue is the increasing geographic concentration of both economic power and employment. A new Indeed.com analysis finds that technology jobs offering salaries in excess of $100,000 a year are becoming increasingly concentrated in just eight metro areas. Nearly 40% of those positions are in Seattle, San Francisco, San Jose, Austin, Raleigh, Washington, Baltimore, and Boston. Check out this map from the Indeed study: So even taking a more expansive view of what constitutes Read More >>
Wed, Jul 26, 2017
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIAmerica's lopsided economy: Tech job edition Congressional Democrats say they're attacking “monopolies and the concentration of economic” power with their “Better Deal” policy agenda. But perhaps the more relevant issue is the increasing geographic concentration of both economic power and employment. A new Indeed.com analysis finds that technology jobs offering salaries in excess of $100,000 a year are becoming increasingly concentrated in just eight metro areas. Nearly 40% of those positions are in Seattle, San Francisco, San Jose, Austin, Raleigh, Washington, Baltimore, and Boston. Check out this map from the Indeed study: So even taking a more expansive view of what constitutes Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEIA stuck economy? A Q&A with Bret Swanson on the future of productivity The US economy seems stuck at around 2% GDP growth, much less than the 3.5% it averaged between World War II and the Great Recession. One reason is that productivity growth — that is, output per worker — is barely rising. Why is the American economy apparently not as productive as it used to be? Are we, despite our tech giants such as Apple and Google, somehow less innovative than we used to be? If so, then why are we also concerned about robots taking our jobs? To Read More >>
Wed, Jul 26, 2017
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIA stuck economy? A Q&A with Bret Swanson on the future of productivity The US economy seems stuck at around 2% GDP growth, much less than the 3.5% it averaged between World War II and the Great Recession. One reason is that productivity growth — that is, output per worker — is barely rising. Why is the American economy apparently not as productive as it used to be? Are we, despite our tech giants such as Apple and Google, somehow less innovative than we used to be? If so, then why are we also concerned about robots taking our jobs? To Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEIThe coming productivity boom: A short-read Q&A with Bret Swanson The US economy's 2% GDP growth over the past several years falls well short of the 3.5% it averaged from World War II to the Great Recession. Why is the American economy apparently not as productive as it used to be? Are we somehow less innovative than we were 50 years ago? To help answer those questions and others, I spoke with Bret Swanson, an AEI visiting fellow and president of Entropy Economics. You can listen to our conversation at Ricochet, or read the full transcript here. Could we be on the Read More >>
Wed, Jul 26, 2017
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIThe coming productivity boom: A short-read Q&A with Bret Swanson The US economy's 2% GDP growth over the past several years falls well short of the 3.5% it averaged from World War II to the Great Recession. Why is the American economy apparently not as productive as it used to be? Are we somehow less innovative than we were 50 years ago? To help answer those questions and others, I spoke with Bret Swanson, an AEI visiting fellow and president of Entropy Economics. You can listen to our conversation at Ricochet, or read the full transcript here. Could we be on the Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEI Congressional Democrats say they're attacking “monopolies and the concentration of economic” power with their “Better Deal” policy agenda. But perhaps the more relevant issue is the increasing geographic concentration of both economic power and employment. A new Indeed.com analysis finds that technology jobs offering salaries in excess of $100,000 a year are becoming increasingly concentrated in just eight metro areas. Nearly 40% of those positions are in Seattle, San Francisco, San Jose, Austin, Raleigh, Washington, Baltimore and Boston. Check out this map from the Indeed study: So even taking a more expansive view of what constitutes a “tech hub,” there' Read More >>
Wed, Jul 26, 2017
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIIn an open letter to Drug Czar Bill Bennett in 1989, Milton Friedman made the case for decriminalizing drugs From Wikipedia: The Anti-Drug Abuse Act of 1988, which created the Office of National Drug Control Policy, was the product of bi-partisan support. It was co-sponsored in the House of Representatives by parties' leaders, Tom Foley and Robert Michel, and it passed by margins of 346–11 and 87–3 in the House and Senate, respectively. Upon signing the law, Ronald Reagan said, “This bill is the product of a bipartisan effort.” In 1988, Bill Bennett was appointed by President George H. W. Bush to the Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
Since the decline of the Ottoman Empire, the story of the Middle East has been one of inconclusive struggles of the weak against the weak. That the Ottomans lasted as long as they did is in substantial measure a testament to the constant chaos of Arab and Persian politics. Generations of post-colonial nationalists have been entirely unable to create states capable of competing with modern European or East Asian powers; their inability to master the craft of large-scale conventional warfare is written in the history of Israel and the Iran-Iraq war of the 1980s. Moreover, since the 12th-century days of Hassan-i Read More >>
Wed, Jul 26, 2017
Source: Marc Thiessen Category: MARC THIESSEN
AEIIt's all about demand: The left is looking for the Fed to juice US productivity growth New York Times Democrats are trying to fashion a new economic agenda, a bit more populist and progressive than what Hillary Clinton ran on. And some on the left are proposing that the Federal Reserve and monetary policy be central to any rethink. A new study from the Roosevelt Institute argues that the sustained post-recession weakness in US productivity and economic growth is a “consequence of depressed demand for goods and services and a slack labor market that has depressed wages.” It's not so much, for Read More >>
Wed, Jul 26, 2017
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIIt's all about demand: The left is looking for the Fed to juice US productivity growth New York Times Democrats are trying to fashion a new economic agenda, a bit more populist and progressive than what Hillary Clinton ran on. And some on the left are proposing that the Federal Reserve and monetary policy be central to any rethink. A new study from the Roosevelt Institute argues that the sustained post-recession weakness in US productivity and economic growth is a “consequence of depressed demand for goods and services and a slack labor market that has depressed wages.” It's not so much, for Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEILinks for July 26, 2017: Rethinking the productivity slump, the job skills of the future, and one firm's plan to implant microchips in its employees Maybe we've been thinking about the productivity slump all wrong — The Upshot It's a chicken or egg problem: Does low productivity cause slow growth, or does slow growth cause low productivity? The second possibility is the provocative argument of a new paper published Tuesday by the Roosevelt Institute, a liberal think tank. The paper argues that the United States economy is not actually closing in on its full economic potential and has plenty of room for continued Read More >>
Wed, Jul 26, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEINew Carpe Diem economic news and data quiz It's time for another Carpe Diem quiz. Test your knowledge of recent economic news and data points, some featured in recent CD posts, with this new 15-question quiz below. Good luck! Loading Carpe Diem Economic News and Data Quiz July 25, 2017 New Carpe Diem economic news and data quizMark Perry Read More >>
Tue, Jul 25, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEIQuotation of the day on the superiority of Western culture and values…. …. is from George Mason economist Walter E. Williams' latest weekly column “Western Values Are Superior“: Intellectual elites argue that different cultures and their values are morally equivalent. That's ludicrous. Western culture and values are superior to all others. I have a few questions for those who'd claim that such a statement is untrue or smacks of racism and Eurocentrism. Is forcible female genital mutilation, as practiced in nearly 30 sub-Saharan African and Middle Eastern countries, a morally equivalent cultural value? Slavery is practiced in Mauritania, Mali, Niger, Chad and Read More >>
Tue, Jul 25, 2017
Source: Public Policy Blog of the American Enterprise Institute Category: ETHICS AND PUBLIC POLICY CENTER
AEIWhy US innovation can be seen everywhere but in the GDP statistics “The future is already here — it's just not very evenly distributed,” is an oft-repeated William Gibson line. (Especially by bloggers, I would imagine.) It's an insight that may help explain the odd disconnect between innovation and productivity. If you look at the broad US economic growth and productivity statistics for the past decade — actually a little longer — it's sort of like Silicon Valley doesn't exist. But maybe it's more a case of what happens in Northern California — and Seattle and Boston — stays there. Innovation is Read More >>
Mon, Jul 24, 2017
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
In this AEI Events Podcast, AEI's Claude Barfield and Michael Strain host the Right Honorable Liam Fox MP, the UK's Secretary of State for International Trade, to discuss international trade policy in the wake of Brexit. Dr. Strain welcomes Dr. Fox back to AEI and delivers introductory remarks. https://media.blubrry.com/aeieventspod/p/content.blubrry.com/aeieventspod/Event_The_Future_Of_UK_Trade_Policy_Remarks_From_The_Right_Honorable_Liam_Fox_2017_07_24.mp3Podcast (aei-events-podcast): Download Following Dr. Strain's introduction, Dr. Barfield sits down with Dr. Fox to discuss the steps the UK is taking domestically to form a sovereign trade policy and the future of UK-US trade relations. Dr. Fox is leading the effort to redesign the UK's trade policy after the departure from the European Read More >>
Mon, Jul 24, 2017
Source: Marc Thiessen Category: MARC THIESSEN
AEIStudy: Tax subsidies like the mortgage interest deduction have ‘zero effect on homeownership' If you had told me in 2007 that the United States would suffer a cataclysmic housing market collapse, I might have guessed that at some point there would be a big public discussion and rethink about the role of housing the US economy. For instance: What is the true value of the mortgage interest deduction, a roughly $100 billion-a-year subsidy for home ownership? Is that the best use of that dough given the wide variety of US economic challenges? Does the deduction boost home ownership and thus support various Read More >>
Mon, Jul 24, 2017
Source: James Pethokoukis Category: JAMES PETHOKOUKIS