No, Politicians Can’t ‘Fix’ Prices—and That’s OK

Price controls lead to the misallocation of resources, shortages, diminished product quality, and black markets. Prices and wages set on market dynamics reflect underlying economic realities and then send out a signal for help. Price controls only mask these realities, which inevitably worsens the economy’s ability to respond with what ordinary consumers and workers need.

https://reason.com/2024/05/16/no-politicians-cant-fix-prices-and-thats-ok/

Apple’s Big Business: Mises is Right, Sen Warren is Wrong

Ludwig von Mises put it perfectly when stating that “It is big business that makes all the achievements of modern technology accessible to the common man. Everybody is benefited by the high productivity of big scale production.”

Mises goes on to assert that “It is silly to speak of the ‘power’ of big business. The very mark of capitalism is that supreme power in all economic matters is vested in the consumers. All big enterprises grew from modest beginnings into bigness because the patronage of the consumers made them grow.”

They Can Afford It!

Workers who cost more to employ at the minimum wage than these workers contribute to any firm’s bottom line will not be employed…. To point to the high net worths of companies such as Walmart and McDonald’s, Inc., as a reason why hikes in the minimum wage would have no adverse impact on any low-skilled workers is uninformed and unreflective nonsense.

J.D. Vance Thinks U.S. Steel’s Shareholders Weren’t Adequately Warned of J.D. Vance’s Efforts To Block Sale

Where are the limits of federal power? Vance is positing a situation in which the government must grant implicit or explicit approval of every merger and acquisition involving an American company.

https://reason.com/2024/04/11/j-d-vance-thinks-u-s-steels-shareholders-werent-adequately-warned-of-j-d-vances-efforts-to-block-sale/

Government Project: The Eternal Folly of Central Planning

Americans do not readily embrace government-imposed collectivization. “Community,” in the Tocquevillian sense — voluntary associations which comprise the fabric of civil society — cannot be manufactured or externally imposed; civic cooperation must be organic.

Tipping Point: CBO Director’s Warning on America’s Fiscal Path

The CBO projects [interest] payments to the U.S. government’s creditors will rise to $1 trillion in 2026. The U.S. government’s gross interest payments to its creditors started exceeding that level in 2023. If not for a Supreme Court ruling rejecting student loan forgiveness last year, the U.S. government’s net interest costs would soon be nearing that $1 trillion level.

China’s Economic Facade is Cracking

[China] is reaping the whirlwind of conscious decisions on Beijing’s part over the past 15 years to embrace more state-centric economic policies. …Problems, however, are to be expected when the government plays a heavy-handed role in directing investment — a process which steadily accelerated in China after Xi Jinping came to power in 2012.

Uber and Lyft Drive Out of the Twin Cities

Left to their own devices, employers and workers will inevitably come to an answer that serves both of their interests. But that sort of mutually beneficial arrangement has never made politicians all that happy, as it invariably proves that people don’t need them all that much.

Dynamic Pricing Puts the “Fast” Back in Fast Food

Every fast-food restaurant already has a form of dynamic pricing… You pay in the next-highest-valued use of your time, also known as opportunity cost.

Predictable pricing does not mean predictable cost, which includes things like wait times at the drive-thru.

This Is Why We Can’t Have Nice Things (Digital Trade Version)

Why is the US Trade Representative opening the door to other countries slapping tariffs on e‑commerce that benefits American workers, American businesses, and American consumers?

https://www.cato.org/blog/why-we-cant-have-nice-things-digital-trade-version