MP Materials, the only active rare earths mining company in the U.S., is making great progress. And yet at the same time, the company just reported a financial loss. The contradiction illustrates the challenges involved for the U.S. in rebuilding a rare earths industrial capability.
Excessive imports siphon demand for goods and services away from American producers and drive the government to run a budget deficit to cover that gap.
Euphoria over artificial intelligence has seized the technology industry, the stock market, and the world. But for the U.S. economy as a whole, the AI boom is very likely to be a huge productivity disappointment.
A 10% “universal” tariff on all U.S. imports, combined with a schedule of income tax cuts would generate economic growth of $728 billion and 2.8 million additional jobs, according to the CPA economic model of the U.S. economy.
So what is comparative advantage? Comparative advantage occurs when the ratio of costs in one country differs from the ratio of costs in another.
Airbus is the greatest success of industrial policy in modern history. It is the world’s most successful commercial airplane manufacturer, with a global workforce of 121,000 people around the world.
The dollar is wreaking havoc around the world, yet the federal government and Treasury Secretary Janet Yellen refuse to do anything about it.
Respected economists including Janet Yellen, Mario Draghi, Paul Romer and Angus Deaton have been critical of free trade and globalization in recent weeks.
US productivity growth has underperformed since the year 2000.
KEY POINTS U.S. pharmaceutical imports have risen sharply in the last decade, with imports from China and India skyrocketing. India and China are increasingly the
