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Is designer antitrust going mainstream? Let's hope not, because consumers and the economy will suffer. Facebook, Amazon, Netflix and Google logos via Reuters. I use the term designer antitrust to refer to the antitrust actions advocated by some academics, pundits, and rent seekers who think that they know more about what businesses should do and what consumers should buy than the people on the front line. These advocates' proposals are based on at least three false beliefs: (1) They know whether and when a company is too big and should be cut down to size; (2) They know which companies should be Read More >>
Wed, Feb 20, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Skills training beyond high school is important for most people, but the four-year college model does not work for everyone. While a traditional college education serves some people quite well, teaching students valuable skills and signaling that knowledge to potential employers, it has serious drawbacks. Tuition is high, it takes several years to complete a degree, and less than 55% of students actually graduate from college within six years of starting. Many people could surely benefit from alternatives to a traditional college degree. A new report by Rooney Columbus reminds us that the college degree is not the only signal of Read More >>
Wed, Feb 20, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Have we entered a new Gilded Age? Are Facebook, Google, and Apple today's Standard Oil, Northern Securities Company, and US Steel? On this episode, professor Tim Wu discusses the history and legacy of antitrust law in America, as well as whether it's time to break up big-tech.  Tim Wu is a professor at Columbia Law School where he focuses on antitrust, copyright, and communications law. His latest book is “The Curse of Bigness: Antitrust in the New Gilded Age.” Below is an abbreviated transcript of our conversation, you can read the full version here. You can download the episode by clicking Read More >>
Tue, Feb 19, 2019
Source: Marc Thiessen Category: MARC THIESSEN
AEI5 questions for Tim Wu on Big Tech, antitrust, and the consumer welfare standard Have we entered a new Gilded Age? Are Facebook, Google, and Apple today's Standard Oil, Northern Securities Company, and US Steel? On this episode, professor Tim Wu discusses the history and legacy of antitrust law in America, as well as whether it's time to break up big-tech.  Tim Wu is a professor at Columbia Law School where he focuses on antitrust, copyright, and communications law. His latest book is “The Curse of Bigness: Antitrust in the New Gilded Age.” Below is an abbreviated transcript of our conversation, you Read More >>
Tue, Feb 19, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
Some of our current economic policy debates can be likened to the (largely apocryphal) charge of Polish cavalry against Nazi tanks: Seeking to shape a world of rapid technological, economic, and social change, political leaders are obstinately applying recipes that are outdated and bound to be ineffective. This failure of imagination afflicts the entire political spectrum, in Europe as in the United States. Retreating from the globalized world into cocoons of sovereign nation-states, as much of the populist Right wants to do, is simply retrograde. But equally tired are the mantras of the technocratic center, several of which were on full Read More >>
Tue, Feb 19, 2019
Source: Marc Thiessen Category: MARC THIESSEN
President Trump's counterterrorism strategy has amounted to doubling down on past failure. He has promised a full withdrawal of troops from Syria and a partial withdrawal from Afghanistan, the better to focus on directly attacking terror cells. That narrow definition of counterterrorism misses the real threat: the Salafi-jihadi movement, which continues to gain strength across the globe. Salafi-jihadi groups—including al Qaeda, Islamic State, Boko Haram and al-Shabaab—are no longer the terror factions we recognize. While terrorism is a tactic they deploy effectively and consistently, no straightforward counterterrorism policy will defeat them. Their aim is first to rule the Sunni world, and Read More >>
Tue, Feb 19, 2019
Source: Marc Thiessen Category: MARC THIESSEN
There are some steps a person can take to have a good chance at finding happiness and avoiding poverty in life, but despite what some researchers say, the truth is a little more complicated than a simple sequence. AEI's Brent Orrell explains. Read More >>
Tue, Feb 19, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Available March 12, 2019 Buy the book. Read the introductory chapter. Civility isn't enough. For America to overcome the culture of contempt that is wrecking public discourse and tearing us apart as people, we don't need less anger, more agreement, or more civility and tolerance. What we need is love: not a warm and fuzzy feeling, but a clear and bracing commitment to the good of our fellow citizens — even, and especially, those with whom we disagree. How can we build a new social movement based in love? Arthur Brooks charts the course forward in his new book, “Love Your Enemies: How Decent People Read More >>
Mon, Feb 18, 2019
Source: Marc Thiessen Category: MARC THIESSEN
This past weekend, two-time NBA MVP Stephen Curry made his annual trip to the league's all-star game, where he shared the court on Sunday with teammate Klay Thompson. The day before, in the NBA All-Star Weekend's three-point contest, his competitors included his brother, Seth Curry. Just a few weeks earlier, iconic New England Patriots coach Bill Belichick led his team to its sixth Super Bowl win of his two-decade tenure. To win that game, his team had to beat the Los Angeles Rams and their Pro Bowl quarterback Jared Goff. To get to the Super Bowl, Belichick's Patriots had to Read More >>
Mon, Feb 18, 2019
Source: Marc Thiessen Category: MARC THIESSEN
It finally happened: On Friday, February 15, President Trump announced an emergency at the southern border, allowing him to divert funds from other projects to enhance border security. How will this affect the military? What will this look like in practice? What type of precedent does this set? Rick Berger joined Banter to answer all these questions and more. Rick Berger is a research fellow at AEI, where he works on the defense budget, the National Defense Authorization Act, military appropriations and acquisition reform, as well as on other national security budget-related issues. Before, he was a professional staff member for Read More >>
Mon, Feb 18, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Conservatives who will wind up supporting President Trump's decision to reprogram funds from planned, congressionally-appropriated military construction projects will undoubtedly point to the federal statute (Title 33, section 2293) allowing a president to reprogram monies when used in support of a mission “essential to the national defense” in a time of a national emergency. They will note that a case can be made that securing the borders is “essential to the national defense” and that the 1976 law outlining a president's authority to declare a national emergency is sufficiently undefined as to allow the chief executive wide discretion in what Read More >>
Fri, Feb 15, 2019
Source: Marc Thiessen Category: MARC THIESSEN
AEIThe undue alarmism over America's wealth inequality ‘crisis' At least the fantastical Green New Deal attempts to address an actual problem: climate change. That's less obviously the case with various new tax proposals meant to solve America's “wealth inequality crisis.” Evidence that America's ever-expanding stock of wealth has become concentrated in fewer hands isn't itself evidence of a crisis. Nor does “tolerating extreme inequality mean accepting that it's not a gross policy failure,” as inequality researchers Gabriel Zucman and Emmanuel Saez recently wrote. In what way is it a policy failure if extraordinary wealth is derived from the rise of innovative companies Read More >>
Fri, Feb 15, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEI‘The Curse of Bigness': A long-read Q&A with Tim Wu Have we entered a new Gilded Age? Are Facebook, Google, and Apple today's Standard Oil, Northern Securities Company, and US Steel? On this episode, professor Tim Wu discusses the history and legacy of antitrust law in America, as well as whether it's time to break up big-tech. Tim Wu is a professor at Columbia Law School where he focuses on antitrust, copyright, and communications law. His latest book is “The Curse of Bigness: Antitrust in the New Gilded Age.” What follows is a lightly edited transcript of our conversation. You can download Read More >>
Thu, Feb 14, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIThere is no more valuable ‘digital dividend' than technological progress California Gov. Gavin Newsom's “digital dividend” plan suffers a fatal flaw. Consumers are already sharing in the wealth “that is created from their data,” as Newsom puts it. They are already receiving tremendous value from the zero-price content their data supports via targeted advertising. That mean seem trivial to those politicians who want Big Tech to start cutting checks. (Or more checks since they do pay taxes and cut paychecks to their workers, who then spend the money, which turns into income for someone else.) But what consumers get in return Read More >>
Wed, Feb 13, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIDon't expect huge budget savings from ‘Medicare for All' Members of the audience greet Senator Bernie Sanders (I-VT) during an event to introduce the “Medicare for All Act of 2017” on Capitol Hill in Washington, U.S., September 13, 2017. Reuters/Yuri Gripas. I hear this all the time on social media: If America spent its money on health care the way Europe does — with a much smaller share of national income going to health care — more could be spent on other priorities. But probably not, as this bit from my recent podcast interview with AEI health economist Ben Ippolito explains: Right, and as Read More >>
Fri, Feb 08, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIPoliticians and the media should realize there's good reason to think American wages haven't been stagnant Much of American political debate, left and right, assumes something has gone badly wrong in the American economy. And whether the culprit is globalization, technology, or rapacious rich people, the end result has been stagnant worker wages. How can anyone say US-style capitalism is doing just fine if take-home pay isn't? But those making such claims, whether on the left or right, really need to grapple with this chart: The blue line is the “stagnant wages” line, and it's not hard to find version of it accompanying Read More >>
Fri, Feb 08, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIWhat does Medicare for All really mean: A long-read Q&A with Benedic Ippolito Is Sen. Bernie Sanders' ‘Medicare for All' proposal really Medicare for all? And what are the real costs associated with single-payer health care? On this episode, AEI's Benedic Ippolito discusses the oft ignored implications of the health care plans popular among 2020 Democratic presidential hopefuls. Benedic Ippolito is a research fellow in economic policy studies at the American Enterprise Institute where he focuses on health economics. What follows is a lightly-edited transcript of our conversation. You can download the episode by clicking the link below, and don't forget to Read More >>
Thu, Feb 07, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIThe fatal flaw of the Green New Deal is that it doesn't take climate change seriously When you're a singular planetary species that's doing something novel to the atmosphere, some measure of caution is warranted. As Harvard economist Martin Weitzman has written, “The probability of a disastrous collapse of planetary welfare from too much CO2 is non-negligible, even if this low probability is not objectively knowable.” Via Twenty20. And that uncertainty argues for reasonable, precautionary action. For instance: money for clean energy and geoengineering research, financed by a carbon tax. (And we certainly want to keep the economy as dynamic and innovative as Read More >>
Thu, Feb 07, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIExposing the flaws of Modern Monetary Theory: A short-read Q&A with Stan Veuger Rep. Alexandria Ocasio-Cortez has said it “absolutely” should be part of our conversation about the economy. During the presidential campaign, Sen. Bernie Sanders' chief economist was an adherent. But what the heck is Modern Monetary Theory? On this episode, economist and AEI scholar Stan Veuger breaks it all down, discussing his latest article for AEI Economic Perspectives titled Modern Monetary Theory and Policy. Stan Veuger is a resident scholar here at AEI where he specializes in political economy and public finance. What follows is a lightly-edited transcript of our Read More >>
Wed, Feb 06, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
I was delighted to see Stephen Dinan of the Washington Times in one of the moderators' chairs last night. He asked about immigration right at the beginning of the night, with questions on both foreign worker visas and immigration levels overall. Here's what was said about the first topic. read more Read More >>
Fri, Mar 11, 2016
Source: Mark Krikorian Category: MARK KRIKORIAN