Raimondo Speech Marks Biden Administration Endorsement of Industrial Strategy
A little-noticed speech by Commerce Secretary Gina Raimondo last week was a rousing endorsement of industrial strategy by a senior Biden administration official as the
Free Trade Theory and Reality: An Economist’s Critique
The theory of free trade is so familiar and so often quoted, you might think there is ample evidence proving its accuracy. But there isn’t.
Looming Copper Shortage Threatens U.S. Resiliency and Geopolitical Order
The “Green Revolution” promises to produce electric power in a climate-friendly, low-emissions manner for homes, businesses, cars, trucks and other vehicles. There’s just one giant
U.S. Income Inequality Widened Further in 2021
The top 5% and top 20% of U.S. households have enjoyed most of the gains in U.S. GDP since 1970. Bottom 20% have seen almost no gains in 50 years.
Production Tax Credits Unleash Tidal Wave of Investment in Manufacturing
$22 Billion of Investment to Create 15,000 Jobs The manufacturing incentives tucked into the Inflation Reduction Act have unleashed a tidal wave of investment in
US Rare Earths Industry Making Inroads Into China’s Global Dominance
America’s dependence on China for rare earth supplies is one of the most serious issues for the U.S. supply chain. Rare earths are critical minerals
Dollar Hits New Highs, Wreaking Havoc on US & World Economy
The foreign exchange value of the U.S. dollar is soaring on an almost daily basis, causing problems here at home and abroad. There is growing
China Trade Surplus and US Deficit Hit New Records, Driving Global Instability
ecKey Points China’s global trade surplus is heading for a new all-time high this year. Based on the first seven months of data, we estimate
How Venture Capitalists Would Manage the Chips Act
In my 15 years in Silicon Valley, I found venture capitalists to be the shrewdest and smartest individuals there. The best of them have had
Recession is Two to Three Quarters Away
The economy is moving from growth to contraction, as Thursday’s 0.9% decline in GDP tells us. The debate over whether we are in a recession
