After schools throughout the country closed in spring 2020 due to COVID-19, homeschooling increased significantly in the 2020-21 school year. The surge has been accompanied by some calls to ban homeschooling. According to the Census Bureau, 11% of households with school aged children homeschooled this year, double the level in April 2020. Alaska had the […]

The cyberattack on the Colonial Pipeline by the hacker group DarkSide disrupted gasoline supplies across the Southeast. The company caused a stir by paying a 75 Bitcoin ransom to DarkSide. America historically has been opposed to paying evildoers, as reflected in the slogan, “Millions for defense, but not one cent in tribute,” and President Jefferson […]

The 12-month change in the Consumer Price Index (CPI) exceeded 4% in April for the first time since 2008. Many economists have been predicting inflation following a 25% increase in the money supply in spring 2020. Has inflation finally arrived? Inflation was a major issue in the 1970s and early 1980s. We experienced double-digit inflation […]

In early April the Centers for Disease Control (CDC) changed its guidance on surface transmission of the SARS-CoV-2 virus. After more than a year of cleaning and disinfecting, the CDC now believes surface transmission is relatively infrequent. This case illustrates the role of discovery in public policy. The CDC says, “surface transmission is not the […]

The federal government has issued three rounds of COVID “stimulus” checks and boosted unemployment benefits, first by $600 and now $300 per month. Is this the piecemeal start of a Universal Basic Income (UBI)? Under a UBI (also called a basic income guarantee), the government pays all Americans every month, say $1,000. Many would more […]

Washington borrowed $4 trillion in 2021 and national debt as a percentage of GDP is higher than at the end of World War II. And the Biden administration is proposing spending trillions on infrastructure and families bills. Are our politicians bankrupting America? Economists Jason Furman and Lawrence Summers argue no. These prominent economists – Summers […]

Occupational licensing involves government-imposed requirements for practitioners in different professions, or what critics call government permission slips to work. Despite a lack of evidence of benefits to consumers, licensing has been proliferating across Alabama and America, with the percentage of workers covered rising from 5% to over 20%. A new report from the Alabama Policy […]

Like Jason from the Friday the 13th movies, the proposed lottery for Alabama is back from the dead. By the time you read this, however, Alabama’s Jason might have been killed again. If so, I suspect he will return for another sequel soon. A bill allowing a lottery, casinos and sports betting failed in March […]

A 2019 California law reclassified drivers for ridesharing companies Uber and Lyft as employees instead of contractors. California voters overturned this law via referendum in November 2020. Congress is now considering imposing similar definitions on the entire country. At issue is the classification of workers as either employees or as independent contractors. Economists focus on […]

The Biden administration seems intent on renewing the war against fossil fuels to combat global warming. Before going down this path, I hope Americans will consider Alex Epstein’s argument in The Moral Case for Fossil Fuels. A moral argument requires a standard of value, and Mr. Epstein’s is human life. As he explains, “I think […]

West Coast cities have passed “Hero Pay” ordinances increasing grocery store workers’ pay by up to $5 per hour. Numerous stores have closed in response, putting the heroes out of a job. Such poor economic policies produce avoidable harm. Cities passing “Hero Pay” ordinances include Los Angeles, San Francisco, Oakland and Seattle. The laws apply […]

Inequality is one of America’s most contentious issues. According to a popular narrative, higher taxes on the rich are needed to control growing inequality. New research from the Johnson Center offers a different perspective. My colleagues G.P. Manish and Steve Miller have edited a new book titled “Capitalism and Inequality: The Role of State and […]

The University of Alabama System recently announced a return to normal activities for 2021-22, including full attendance at Crimson Tide football games this fall. I do not try predicting politicians’ decisions but contend that life should return to normal when we the people want it to. Vaccinations have ramped up and the nationwide seven-day averages […]

Congress is expected to soon pass President Biden’s $1.9 trillion COVID-19 stimulus package, the fourth major response to the pandemic. Did these measures save our economy from a protracted recession? Our initial response might be yes because of last spring’s economic free-fall. The stock market declined 20%. Unemployment jumped from 3.5% in February to 14.8% […]

The COVID-19 pandemic reduced gross domestic product (GDP) by about 4% in 2020. The virus also disrupted public education, with many schools still virtual. The tabulation of GDP has missed the economic impact of the school disruption meaning that our 2020 economic performance was worse than the statistics show. GDP is the “market value of […]

Every society must protect against those who would use violence to steal from others. After controlling criminals, swindlers become a major fear and motivates many government regulations. Yet regulations against fraud allow far worse swindling than markets. Swindling is always wrong, but most people learn to avoid pedestrian scams like the email from an exiled […]

Governments have taken numerous extraordinary actions to contain COVID-19. Once the pandemic is over, we can and should revisit the emergency powers laws guiding these policy decisions. How extraordinary have the activities been? Supreme Court Justice Samuel Alito described them as “previously unimaginable restrictions on individual liberty.” Confinement of the non-sick through stay-at-home orders and […]

A $10,000 investment in GameStop last August would have been worth a million dollars last week. How does the stock of a struggling retailer go from under $5 to nearly $500? And does this tell us about the stock market? Founded in 1984, GameStop operates 5,500 stores across the U.S. and the world. The company […]

Americans have always been able to achieve based their talents and efforts. Yet several conservatives now argue that liberal policies have entrenched an elite class. The COVID-19 policy response provides some support for this argument. I have always found economic class analyses unhelpful. Class theorists see society composed of groups, not individuals. Modern economics begins […]

Last year was unlike any other. January 2021, however, offered a familiar sight: Alabama won its sixth national title under coach Nick Saban. The 2020 Crimson Tide featured Heisman Trophy winner Devonta Smith, many other award winners, and rank among the greatest teams in history. Before we debate history and look forward to next season, […]

November’s elections imply we will likely see some Federal student loans forgiven. Current student debt levels reflect the morphing of a reasonable program. Loan forgiveness may produce significant changes for higher education. President-elect Joe Biden has indicated a willingness to forgive $10,000 in loans per borrower via executive order. A Democratic Senate will likely result […]

Every general election, voters decide ballot initiatives on social and economic policy. These often produce inconsistent results. Last November, Californians voted in favor of economic freedom while Florida voters increased the state’s minimum wage. California consistently sits near the bottom of the Fraser Institute’s state economic freedom rankings (47th in 2020). Its economic policies have […]

Governments across the country have imposed numerous public health policies to control COVID-19. A prominent one has been requiring the wearing of masks in public; Alabama has been under a mask order since July. Americans have largely embraced masks. A recent Harris poll found that 93% of respondents at least sometimes (always) wore masks. Nonetheless, […]

Vaccines from Moderna and BioNTech/Pfizer are nearing approval by the Food and Drug Administration (FDA). Politicians will now decide who will get vaccinated first. The Centers for Disease Control’s Advisory Committee on Immunization Practices has prioritized vaccination of medical personnel and nursing home residents. The rest of us will have to wait. Prices offer an […]