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Cato Institute 01/15/2019 14:51
Daniel J. Ikenson. In President Trump’s reckoning, international trade is a. zero-sum game with distinct winners and losers. Exports are Team. America’s points. Imports are the foreign team’s points. The trade. account is the scoreboard, and the deficit on that scoreboard. proves that the home team is losing at trade. Accordingly, the. president considers blocking imports and promoting exports to be. integral to effective trade policymaking. In 2018, Trump put that theory to the test. For a variety of. reasons, including a desire to reduce the trade deficit, Trump. imposed tariffs on $250 billion of imports from China. According to the latest official Chinese data, the result was a. record-high bilateral U.S. trade deficit of $323 billion. Oops. What.
Cato Institute 01/15/2019 12:53
Ryan Bourne. One motivating factor in my moving to the US was to avoid the. consequences of a class-war fuelled, economically damaging, Jeremy. Corbyn tax agenda. Well, politics is surprising sometimes. The. state of debate in the US this week has left me wondering whether,. on that front, I’d have been better sticking around. Alexandria Ocasio-Cortez, the freshly elected Democrat. congresswoman from New York, kicked off the political week by. proposing a new income tax rate as high as “60pc to. 70pc”. Few of us have any prospect of surpassing the $10m. (£7.8m) threshold she proposes for when it would kick in. But the. response to such a punitive rate, in this supposed land of radical. free enterprise, was muted indifference. Several top economic comm.
Cato Institute 01/15/2019 09:28
Ryan Bourne. The British public, a host of commentators on Twitter, and even. some economists seem to think so. A recent YouGov poll asked Britons whether a 30 per cent fall in. property values after Brexit would be a "bad thing". Just 32 per cent of Leavers and 46 per cent of Remainers agreed. that it would be an economic negative. The majority view here is embodied by former member of the. Monetary Policy Committee, Andrew Sentance. When Nationwide’s December house price data signalled that. price growth had been the slowest in six years, he tweeted. "contrary to public perception, this is good news.
Cato Institute 01/15/2019 08:13
Ted Galen Carpenter. It is commonplace for Americans to portray Russia as a dangerous. country with nearly unlimited territorial ambitions. But the facts. simply do not support such an alarmist view. Instead,. Russia’s behavior is more consistent with that of a. beleaguered regional power trying to fend off hostile intrusions. from an American-led NATO. The self-serving myth of a malignantly aggressive Russia,. however, continues to grow—with potentially dangerous. consequences for European and global peace. Assertions that Moscow’s behavior pose a serious, even an. existential, threat to Europe and the entire democratic West. surfaced even before Donald Trump became president. They flared up. in 2008 when fighting erupted between Russia and neighbori.
Cato Institute 01/14/2019 10:50
Matthew Feeney. University of Toronto psychology professor Jordan Peterson and. political commentator Dave Rubin recently announced that they would follow the. example of neuroscientist and atheist author Sam Harris and close. their Patreon accounts. The announcement came shortly after the. fundraising platform removed Carl Benjamin — who goes. by the moniker Sargon of Akkad - for hate speech . The news is the latest battle in the online. ‘censorship’ war, with those alleging bias among online. giants such as Google, Twitter and Facebook taking steps to try to. reform platforms or establish platforms of their own. But those who. value free speech and markets should defend. Patreon’s right to boot off Benjamin, and welcome Peterson. and Rubin’s call for.
Cato Institute 01/14/2019 09:12
Emily Ekins. If there is only one thing people know about Donald Trump, they. know he wants to build a border wall. And if there’s only one thing. people know about Democratic lawmakers, it’s that they rarely turn. down multibillion-dollar infrastructure projects. Averaging national public. opinion polls conducted in 2018 reveals that 6 in 10 Americans. oppose building a border wall. But just a few years ago, at least. that many supported a wall. Yet since December 22, the federal government has been partially. shut down after President Trump and Democratic congressional. leaders were unable to compromise on $5.7 billion in funding for a. wall along the U.S.-Mexico border. Democratic House Speaker Nancy Pelosi (D-CA) has called the border wall “immor.
Cato Institute 01/10/2019 10:36
Chris Edwards. We are in the third week of the federal government’s. partial shutdown. The shutdown is affecting the lives of many. federal workers and may soon start disrupting the broader economy. Because the government exerts control over major industries, when. the politicians butt heads, it damages activities such as aviation,. tourism and recreation. The problem with the shutdown is not that President Trump is holding the government. “hostage,” as House Majority Leader Steny Hoyer. said , but that the government has taken hostage of too much of. the U.S. economy. Consider security screening at the nation’s 450 commercial. airports. The government took over that function in 2001 when it. created the Transportation Security Administration. Over t.
Cato Institute 01/10/2019 09:45
Doug Bandow. No surprise: Senator Mitt Romney does not like President Donald. Trump, as he recently explained in The Washington. Post . But what, one wonders, was the former GOP presidential. candidate thinking two years ago when he supped with the man he now. claims to deplore while seeking an appointment as secretary of. state? Much of Romney’s complaint is over manners. Yes, the. president is a boor. Most people, including many of Trump’s. supporters, recognize that. Trump won not because of his etiquette. but because of what he stood for—and against. Romney also defended The Blob, Washington’s bipartisan. foreign policy establishment. In his article attacking the. president, he offered the usual vacuous bromides that characterize. the interventioni.
Cato Institute 01/10/2019 09:11
David Bier. President Trump took to television on Tuesday to make his case. that the lack of a border wall has caused a “crisis.”Drugs, terrorism, crime and the illegal immigration of children all. featured prominently as supposed justifications for spending. billions of U.S. taxpayer dollars on the project. Yet upon close. examination, the President’s justifications fall flat. The. border has problems, but the President doesn’t understand. them, and some of them he has caused himself. The President cited stopping drug smuggling as a primary goal of. his border barrier. Far from a crisis, however, the value of drug. seizures by the average Border Patrol agent actually declined 70% since 2013. That’s because. marijuana is the primary drug smuggled be.
Cato Institute 01/08/2019 09:11
Ryan Bourne. How would Donald Trump have approached negotiating Brexit? A few months ago, several commentators mused over this exact. question. The current game of chicken between the President and Democrats. in Congress, resulting in a partial US government shutdown, is. perhaps the best insight we’ll get. And it shows the wild ride that a Prime Minister Trump would. have taken us on. May — or whoever. comes after her — should be wary of following the lead of the. US President. Unlike Theresa May, when Trump implies "no deal is better. than a bad deal," he appears to mean it.
Cato Institute 01/08/2019 08:36
Patrick J. Wolf and Corey A. DeAngelis. In December, we released our study Charter School Funding: (More) Inequity in the. City . We meticulously tracked all public school revenue. — including federal, state, local, and nonpublic dollars. — during the 2015-16 school year in 14 cities with high. concentrations of public charter schools. Charter schools in those. cities received on average 27 percent less total revenue per pupil. than traditional public schools, a gap of $5,828 per student. The. cities with the largest gaps were Camden, N.J., at $14,671 per. student, and Washington, D.C., at $10,258 per student. Charter. school students in Atlanta, Georgia, received an average of 49. percent less per pupil in revenue than students in traditional. public
Cato Institute 01/04/2019 12:52
Ryan Bourne. Progressives regularly denounce “trickle-down. economics” when it comes to cutting taxes. Yet many have. their own theory for economic outcomes cascading from the top. The. idea that government mandates for minimum female representation on. company boards would filter down to better opportunities for other. women in business has been an article of faith for nearly a. decade. During that time, countries such as Norway, Belgium, France and. Italy have set explicit quotas for women on boards , backed up by the. threat of company dissolution, fines, bans or other sanctions for. failure to comply. Germany and the Netherlands have introduced softer laws without. binding punishments. In the UK, the 2011 Davies review set. ambitions for a voluntar.
Cato Institute 01/04/2019 09:50
Eric Gomez. Last year was a pretty good one for the Korean Peninsula. A. whirlwind of diplomatic activity helped bring the region back from. the brink of war, but the pace slowed toward the end of the year. and 2018 ended with serious doubts about the trajectory of. U.S.-North Korea negotiations. Kim Jong Un’s customary New Year speech didn’t. provide many answers about what comes next in denuclearization. talks with Washington, but this does not diminish its importance. for U.S. policymakers. The primary value of Kim’s address is. the information it conveys about his domestic priorities for the. year ahead. These priorities create incentives that U.S. negotiators should consider as they deal with their North Korean. counterparts. The most important t.
Cato Institute 01/02/2019 09:43
Doug Bandow. The Trump presidency is nearing its halfway mark. Contrary to. the dire predictions of many pundits, the country still survives. But whether the president is able to win reelection remains a huge. question. Satisfying his base is not enough. He needs to win votes. from those who might not have warmed to him personally. To attract those marginal supporters, many of whom chose him. over Hillary Clinton, he should offer a few compelling “big. ideas,” rationalizing his so far disjointed approach to. policymaking. Make the Democrats fight him on his own ground. Cut Corporate Welfare. One of Hillary. Clinton’s great weaknesses was her membership in the infamous. one percent, having acquired wealth the old-fashioned way, using. political power
Cato Institute 01/02/2019 09:13
Doug Bandow. When President Donald Trump announced that he was withdrawing. troops from Syria, shock and hysteria filled Washington. The. screaming grew louder when it was reported that the president also. intended to remove half of U.S. troops in Afghanistan, with the. rest likely to come home at the end of 2019. Afghanistan is the longest war in American history, outlasting. the Civil War, Spanish-American War, World War I, World War II, and. Korean War combined . U.S. soldiers will soon be deploying. to a war that started before they were born. Today the Taliban is. advancing while the Kabul government is in disarray. Few believe. that the latter, irrespective of who is president, can survive. absent Washington’s support. Both President Barack Obam.
Cato Institute 01/02/2019 08:43
Mustafa Akyol. One of the darkest episodes of the 20th century was the gulag. — the Soviet system of forced labor camps where dissidents. were imprisoned in terrible conditions, often to perish. The camps. were established by Lenin, expanded by Stalin and finally exposed. to the world by the great Russian author Aleksandr Solzhenitsyn,. with his 1973 masterpiece, “The Gulag Archipelago.”“Thin strands of human lives stretch from island to island. of Archipelago,” he wrote, and “it is enough if you. don’t freeze in the cold, and if thirst and hunger. don’t claw at your insides.”Today, Russia’s gulags are long gone, as is the Communist. Party of the Soviet Union that operated them. But now another. dictatorship, ruled by another Communist Party, is ope.
Cato Institute 01/01/2019 09:07
Steve H. Hanke. Venezuela’s economy has collapsed. This is the result of years. of socialism, incompetence, and corruption, among other things. An. important element that mirrors the economy’s collapse is. Venezuela’s currency, the bolivar. It is not trustworthy. Venezuela’s exchange rate regime provides no discipline. It only. produces instability, poverty, and the world’s highest. inflation rate for 2018. Indeed, Venezuela’s annual. inflation rate at the end of 2018 was 80,000%. I observed much of Venezuela’s economic dysfunction. first-hand during the 1995-96 period, when I acted as President. Rafael Caldera’s adviser. But it wasn’t until 1999,. when Hugo Chavez was installed as president, that the socialist. seeds of Venezuela’s current meltdown s.
Cato Institute 12/28/2018 16:50
Steve H. Hanke. President Trump and Congressional Democrats have decided to. enliven the Christmas season with a game of chicken over President. Trump’s proposed “border wall.” As a result, the federal government. is partly shut down until the issue is resolved. The President wants $5 billion to start building the wall. Democrats have offered just $1.6 billion. If the problem truly is. money and not that the Democrats oppose a wall under any. circumstances, there is a place in the federal budget to find all. the money the President wants while saving thousands of lives a. year in the process. More than 700,000 Americans are afflicted with kidney. failure. Of those, almost 30 percent live with transplant kidneys. with the remaining 70 percent on dialy.
Cato Institute 12/28/2018 10:36
Gale L. Pooley and Marian L. Tupy. In recent weeks, oil has been moving below $50 a barrel — owing partly to concerns of oversupply and partly to concerns over a slowing global economy. Petroleum has helped to fuel the global economy for over a century, and its relative abundance today contradicts the doomsayers who feared “peak oil” in the past. Cheap oil is also a problem for the environmentalists, who fear that an oversupply of fossil fuels will undermine the global transition to green energy. Yet petroleum is not special. Resources in general have become cheaper in inflation-adjusted terms — as well as relative to the cost of labor — over the last four decades. That’s all the more remarkable considering that the world’s population has ma.
Cato Institute 12/28/2018 10:29
Ryan Bourne. One of the things I’m most uncomfortable about as a supporter of Brexit is my fellow travellers dismissing economists’ pronouncements out of hand. On everything from the impact of potential GDP benefits of non-EU trade deals, to immigration, right through to the short-term impact of voting to leave, Brexiteers have downplayed economic reports that are politically inconvenient. To be clear, many have been worthy of challenge and critical analysis. Professions can be prone to groupthink, and on Brexit economists have not covered themselves in glory. They were right to state that the uncertainty of voting to leave would prove a drag on economic growth. But they were hopelessly wrong in implying the effect would be so large it would.

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