George Will rightly criticizes Trump’s embrace of the banana-republic practice of civil asset forfeiture. (And see this related video.)
My former student Alex Nowrasteh explains that low-skilled American workers will not be helped by further restrictions on immigration.
Jeffrey Miron points to evidence against the claim that payday lending worsens the lot of payday borrowers.
Iain Murray argues that the key to ensuring rapid and productive adjustments to the creative winds of economic change is deregulation.
Steve Gohmann identifies a happy result of lower taxes.
I’m with Arnold Kling on infrastructure spending.
GMU Econ alum Abby Hall Blanco explains that she’s no pessimist; she’s an economist. A slice:
We recognize that, as human beings living in a world of scarce resources, we face constraints. This leads to the fundamental question of economics: What do we produce? How should it be produced? Who should produce it? For whom should it be produced? Etc.
Good economists accept that we are limited in what we can achieve. We have to try and do the best we can, given all the constraints we face. We look at the goals of policymakers and others, and analyze if and how well particular actions achieve these goals. Unconstrained thinking, which dominates the political and social landscape, ignores that there are many things that, given the circumstances we face, are not possible, or will not work the way people wish they would. In many instances, the economist often plays the role of constant inquisitor, much to the chagrin of those in earshot.
Well, here’s some good news from the Trump administration: GMU Econ alum Mark Calabria will become Vice-president Pence’s chief economist.