Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
-
- Opinion
Want to Further Economic Woes? Put in Price Controls
History has a way of repeating itself. Or maybe it’s that people cling to defunct beliefs, stubbornly refusing to learn from experience. Such stubbornness is on display when pundits, legislators, and President Joe Biden blame inflation on corporate “greed.” The fix, they claim, is price controls. But such controls would only bring further economic calamity….Veronique de Rugy -
- Opinion
Why US Indo-Pacific Economic Framework Must Include Taiwan
It’s regrettable that Washington is sending ambiguous signals to Taiwan on economic engagement. Taiwan, America’s longtime valued, like-minded, and willing partner, has voiced its strong desire to be a “full member” in the Indo-Pacific Economic Framework of the United States. But at a March 31 hearing, U.S. Trade Representative Katherine Tai declined to say whether…Anthony B. Kim -
- Opinion
5 Biden Transportation Potholes Making Motorists’ Lives Miserable
Just a few months ago, Washington celebrated the passage of a bloated infrastructure bill. Supporters trotted out tired claims about fixing “crumbling roads and bridges” using gobs of taxpayer money. Yet even if we assume a certain amount of waste, fraud, and abuse due to the problems inherent with federal involvement, Americans might reasonably expect…David Ditch -
- Opinion
5 Big Problems With Biden’s Big-Government Budget
President Joe Biden finally released his budget request for fiscal year 2023 on Monday, almost two months late. Unsurprisingly, the Biden budget is bloated with excessive spending, harmful taxes, more regulations, and control over Americans’ lives, along with damaging policy proposals. The budget matters because the power to tax and spend is the key to…Matthew Dickerson -
- Opinion
The Pandemic Changed How We Work. It’s Time for Labor Laws to Change, Too.
The way we work has always been evolving, but the COVID-19 pandemic accelerated change. Progress that might otherwise have taken over a decade to achieve was crammed into a single year. With the rapid pace of change, it is critical that labor laws keep up with the times. Fortunately, a group of lawmakers have introduced…Rachel Greszler -
- Opinion
Don’t Ignore History or Sage Advice When It Comes to Economy
In his State of the Union address, President Joe Biden claimed he would be “the only president to ever cut the deficit by more than $1 trillion in a single year.” While this is technically true, he ignores the fact that the reduction in the deficit will be due to the decreased expenditures associated with…Cal Thomas -
- Opinion
America’s Economic Freedom Tumbles in Decadelong Decline
Last year, America was ranked 20th in The Heritage Foundation’s Index of Economic Freedom. This year, America’s rating in the index fell five places and now stands at No. 25, behind nations such as Ireland, Canada, and Chile. “We’ve been on about a decadelong decline in our economic freedom,” Terry Miller, a visiting fellow for…Virginia Allen -
- Opinion
8 Ways Massive Omnibus Spending Bill Is a Mistake
Facing yet another artificial, self-imposed government funding deadline, congressional leaders released a $1.5 trillion omnibus spending bill with the intent of jamming it through Congress and into law in just a few days with as little transparent and public debate as possible. The 2,700-page omnibus spending bill is presented as a false choice: Either support…Matthew Dickerson -
- Opinion
Economic Freedom Is Key to Empowering Women With More, Better Opportunities
The Economist summed up the importance of women’s empowerment last September by pointing out, in an article headlined “Societies that treat women badly are poorer and less stable,” that “[o]ppressing women not only hurts women; it also hurts men.” It’s notable that women’s empowerment has progressed significantly in a number of countries. Yet many other…Anthony B. Kim -
- Opinion
In Memoriam: Daniel Doron, Israel’s Champion of Free Market Ideas
Daniel Doron, the notable Israeli free market thinker and the recipient last year of The Heritage Foundation’s inaugural Steven M. Sass Economic Freedom Award, died Feb. 28 at the age of 92. The annual Economic Freedom Award was established specifically to recognize individuals and organizations that promote free market principles. Indeed, throughout his career of…Anthony B. Kim -
- Opinion
Why US Policymakers Must Make Economic Freedom Their Top Priority
Sen. Mike Lee joined Heritage Foundation President Kevin Roberts for an important speech and timely discussion about the importance of economic freedom. In the March 1 event at Heritage titled “America Needs Policies for Prosperity More than Ever,” the two policy experts stressed why preserving and advancing economic freedom should always be a top policy…Anthony B. Kim -
- Opinion
Minimum Wage Mandates Will Fuel Inflation. Workers Need Real Wage Increases Not Erased by Higher Prices.
With inflation at a 40-year high, politicians understandably want to ease the pain. The good news is that federal lawmakers can help by paring back deficit-financed spending and removing government-imposed barriers to work and economic activity. The bad news is that many politicians instead are looking for easy artificial fixes, like temporarily suspending the federal…Rachel Greszler -
- News
Loss of Economic Liberty Tracks With Loss of Other Freedoms, Sen. Mike Lee Says
Sen. Mike Lee says economic freedom in the United States has declined—along with other freedoms—during a COVID-19 pandemic that prompted increased government spending and regulation. “Anytime you see other freedoms infringed, I think economic freedoms are deteriorating at the same time, because of government action,” Lee, R-Utah, said in an interview on the podcast of…Fred Lucas -
- Opinion
A Budget Blueprint for Freedom, Opportunity, and Prosperity
America faces a stark choice. Will we accept more of the Washington-knows-best, top-down rule by politicians and bureaucrats? Or will we the people be in charge? The current administration and the radical left demands more control over our lives. Thankfully, there’s a plan to change course and promote the common good by preserving the God-given…Matthew Dickerson -
- News
Biden Education Department to Cancel $415M in Student Loan Debt for 16,000 Borrowers
The Biden administration will cancel $415 million in student debt for nearly 16,000 borrowers who claim they were misled by for-profit colleges. The loans for almost 16,000 former students will be canceled under a legal provision, called the "borrower defense to repayment," which allows students to have their debts erased if they prove a for-profit…Harry Wilmerding -
- Opinion
Biden’s $15 Minimum Wage for Federal Workers, Contractors Is Futile
Unable to force a $15 federal minimum wage across the entire country, the Biden administration issued an executive order, now implemented, requiring a $15 minimum wage for all federal workers and federal contractors. While the federal government can avoid some of the harmful effects of wage-setting by politicians, this executive order may provide a temporary—though…Rachel Greszler -
- Opinion
Taiwan’s Free and Vibrant Economy Is a ‘Democratic Success Story’
Taiwan stands for freedom, transparency, accountability, and other democratic characteristics that clearly differentiate the island nation from China. Taiwan’s commitment to cultivating a free economy and a vibrant civil society through independent democratic institutions has unambiguously made the country a notable example for Asia and the world in terms of how an emerging country can…Anthony B. Kim -
- Opinion
5 Takeaways From Heritage Foundation Index of Economic Freedom
The 2022 Index of Economic Freedom—a cross-country study by The Heritage Foundation measuring the economic governance and entrepreneurial environments of 177 countries—went public Monday. The key message? Economic freedom matters more than ever. Heritage’s annual index has tracked economic freedom around the world since 1995. Nations committed to limited government and free enterprise score the…Anthony B. Kim -
- Opinion
US-China Tensions and the Fight Over Semiconductor Supply Chains
As the COVID-19 pandemic continues to disrupt production and distribution, Western countries must reassess the geostrategic risks of global supply chains. This is a prime opportunity for the United States to show leadership. Supply chains are increasingly at the center of the technological cold war between the U.S. and China—none more so than the semiconductor…Sarah Kuszynski -
- Opinion
Staunch US Ally Singapore Boasts World’s Freest Economy in Annual Heritage Foundation Rankings
Singapore keeps punching above its weight, demonstrating to the world the concrete benefit of preserving transparency, openness, and efficiency, which are the hallmarks of economic freedom. For the third year in a row since 2020, when Singapore eclipsed Hong Kong, the small but vibrant Asian country has been top-rated in The Heritage Foundation’s annual Index…Anthony B. Kim