Commentary One of my pet peeves about the economics profession is how often economists decline to speak truth to power. Any economist worth his salt should have a robust understanding and healthy respect for the unique and oh-so-very important functions of free markets. Yet, in all too many cases, economists compromise sound economic principles to…
Paraguay Suffering as Inflation Pushes Cost of Imports to 16-Year High
The upward trend of prices on items imported into Paraguay continues with no end in sight. Inflation on imports was 9.3 percent higher in 2021 than it was in the same recorded period in 2020, making it the highest level recorded since 2005, according to a study by the Central Bank of Paraguay. “Just forget about trying…
Rethinking the Teaching of Econ 101
Commentary A recent report in The Christian Science Monitor details a great stirring among academic economists about how to teach Econ 101. This is both good news and bad news. The good is that at long last the profession is acknowledging and growing dissatisfied with its own stale methodology. The bad news is that the…
Brazil Suffers Inflation in the Wake of Pandemic Restrictions and Drought
With inflation hitting 10 percent, Brazilians are dealing with significantly higher electricity and food prices, brought about by the economic consequences of pandemic restrictions and a historic drought. The country’s National Confederation of Commerce of Goods, Services, and Tourism (CNC) published a list of 15 common consumer goods that contributed to the significant inflation rate, which hit double digits as…
Social Security Announces Largest Benefits Increase Since 1982
As inflation continues to climb, the Social Security Administration (SSA) has announced that social security recipients will see a 5.9 percent increase in their benefits, the largest such increase since 1982. The SSA has historically adjusted benefits to account for inflation, but these have often been minor, granting beneficiaries a one or two percent increase….
China’s High-Tech Push Seeks to Reassert Factory Dominance
At a factory in northern China, workers are busy testing an automated vehicle designed to move bulky items around industrial spaces, one of a new generation of robots Beijing wants to shift the country’s manufacturing up the value chain. The Tianjin-based robot maker has received tax breaks and government-guaranteed loans to build products that modernize…
Railroad Industry Worried About Biden Executive Order
An executive order signed by President Joe Biden that could force railroads to allow other operators to use their tracks could reduce competition and increase costs, according to industry experts. Biden’s order last week in part called on the independent Surface Transportation Board to consider what the Association of American Railroads calls “forced switching” rule….
Economic Update Predicts Challenges Ahead
June 15, 2021
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Despite a solid footing heading into the next economic cycle—low interest rates, a hot housing market, and strong GDP growth— there are some looming signs of a recession on the horizon that shouldn’t be ignored, says a financial expert. “As good as prosperity is now and will be in the near future, there’s 100 percent…
California Factories Likely to Reach Pre-Pandemic Levels by July, says Chapman Survey
April 8, 2021
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Commentary The manufacturing sector in California is expected to be fully healed by the end of June, according to a recently-released survey of California Purchasing Managers. The survey was performed by Chapman University in Orange, Calif. “The recovery of the manufacturing sector in California from the devastation of COVID-19 will be complete in the second…
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Orange County House Prices Could Drop 15 Percent by 2023
Commentary Chapman University is predicting a 10-to-15 percent drop in the median price of detached singled family homes in Orange County, Calif., by mid-2023. Faculty from Chapman University’s A. Gary Anderson Center for Economic Research presented on June 16 the institution’s economic forecasts for the nation, state, and Orange County. It expects rates on new…