Sales of light vehicles totaled 14.1 million at an annual rate in November, down from a 15.1 million pace in October. The November result was a 6.5 percent decrease from the prior. It was the eighteenth consecutive month below the 16 to 18 million range, averaging just 13.67 million over that period (see first chart). […]Read More
Last month, something old became new again. What’s new is that the world population crossed the eight-billion mark for the first time. What’s old is that, for more than two centuries, experts have been warning that we’re headed for calamity because our population is unsustainable. When, in 1798, the world population crossed the one-billion mark, […]Read More
First published by The Hill Recent weeks have witnessed another disaster for the cryptocurrency industry. FTX, one of the largest crypto exchanges, failed. The price of bitcoin, the largest cryptocurrency, fell by more than 20 percent. Industry-wide exposure to FTX is still unknown, with the solvency of several companies still in question. Crypto critics, including Securities and Exchange Commission […]Read More
“Milton Friedman’s shareholder doctrine is dead.” Such was the headline of a 2020 Fortune magazine article critiquing Friedman’s famous New York Times opinion piece which, fifty years earlier, had argued that the social responsibility of business is to increase its profits. The Fortune article was just one of many op-eds, academic papers, and books penned over the past 52 years disputing Friedman’s thesis. Their […]Read More
When political progressives address topics like inflation, taxes, or corporate wrongdoing, they claim to speak for the people. Whether it’s the working class or minorities, progressives aim to shape government policy to protect those at constant risk for exploitation. But when these same individuals, such as U.S. Senator Elizabeth Warren (D-MA), turn their focus to […]Read More
On Nov. 17, US District Judge Mark Walker struck down Florida Governor Ron DeSantis’ signature Stop WOKE Act, which bars Florida’s higher education institutions from teaching critical race theory (CRT), and “prohibits school districts, colleges and universities from hiring woke CRT consultants.” Although the decision’s practical ramifications will attract the bulk of media and scholarly […]Read More
Reprinted from the Cato Institute Swiss Medtech, a trade association representing the medical technology industry, issued a press release on November 28 praising the Swiss Parliament for enacting legislation allowing Swiss health care providers and patients to access medical devices approved by the U.S. Food and Drug Administration. Until now, the Swiss government only permitted patients and doctors […]Read More
The latest inflation report reveals that inflation is slowing, but it remains at a 40-year high. The stock market rose, as softer-than-expected inflation rate gave investors hope the Federal Reserve may not have to raise its target rate quite as fast. A 7.7-percent increase in prices over the last year shouldn’t make people hopeful. Many […]Read More
Total nonfarm payrolls posted a 263,000 gain in November versus a 284,000 rise in October (revised up by 23,000), while September had an increase of 269,000 (revised down by 46,000). The November result easily beat the consensus expectation of 200,000. However, the gain is still the slowest since April 2021. Excluding the government sector, private […]Read More
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