Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
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opinion
Why a Return to Obama’s Student Loan Forgiveness Rules Would Be a Mistake
The battle over the Department of Education’s borrower defense to repayment rule, which governs student loan repayments when a student claims he has been defrauded by a university, has made its way to President Donald Trump’s desk. Congress this week utilized the Congressional Review Act to overturn the Trump administration’s rewrite of the Obama-era rule…. -
opinion
How Greater Trade Freedom Advances Women’s Economic Empowerment
A new study by the United Nations Conference on Trade and Development, “Gender and Trade,” considers the impact of trade on women and notes that effective trade policy “works in tandem with domestic policy to support women’s economic empowerment.” More specifically, the report highlights the importance of market structure and institutional quality in shaping the… -
opinion
With Another Default Looming, Economic Freedom Is Again at Risk in Argentina
Argentina’s economic freedom score increased slightly this year. But as the 149th-freest out of 180 countries graded in the 2020 edition of The Heritage Foundation’s annual Index of Economic Freedom, Argentina remains in the bottom rankings of mostly unfree and repressed economies. The policies of the current leftist government in Buenos Aires threaten to sink… -
opinion
It’s Time for an Economic Freedom Partnership With Africa
In the context of a strong plea for reparations and debt relief from China for its recent predatory behavior in Africa, Obiageli Ezekwesili, a former vice president of the World Bank and former Nigerian Cabinet minister, made a startling admission. In a recent opinion piece for The Globe and Mail newspaper of Toronto, she wrote:… -
opinion
Reopening South Africa Through Greater Economic Freedom
South Africa’s overall economic freedom score increased slightly in the 2020 Index of Economic Freedom. Its score is well above the regional average, but its economy remains in the mostly unfree category into which it dropped in 2019—after 24 years in the ranks of the moderately free. Even before the pandemic, South Africa’s gross domestic… -
opinion
12 Urgent Actions to Reopen America and Prevent an Economic Depression
The steps we take to reopen America safely will determine whether the United States has to contend with an economic depression—regardless of whether COVID-19 is suppressed in the next several months or the next year. How we build on those steps will not just be critical in restarting the American economy, but also could help… -
opinion
Why Bailing Out the Postal Service Isn’t a Good Idea
The U.S. Postal Service is feeling the economic fallout of the coronavirus pandemic. It recently asked for $75 billion in taxpayer funding. President Donald Trump said that any bailout must be conditioned on reform. Romina Boccia, a fiscal and economic expert at The Heritage Foundation who focuses on government spending and the national debt, joins… -
opinion
The US Postal Service Needs Big Reforms, Not a Big Check
If you followed only the headlines and mainstream press coverage, you might think that the U.S. Postal Service was on the verge of bankruptcy and needs an immediate taxpayer bailout of $75 billion or more to keep functioning. However, a financial report that the USPS released on Friday revealed a crucial piece of information that… -
opinion
How ‘Sound Fiscal Policies’ Are Enhancing Economic Freedom in Paraguay
Paraguay has solidified its status as a “moderately free” economy, according to The Heritage Foundation’s recently released 2020 Index of Economic Freedom. Ranked 80th out of 180 countries worldwide, Paraguay is the 15th-freest country in the Western Hemisphere. At first glance, Paraguay appears an unlikely prospect to stand out as a notable emerging market. In… -
opinion
Unemployment Soars to 14.7% as America Loses 20.5 Million More Jobs
The U.S. economy lost 20.5 million jobs in April as the devastation from COVID-19 hit new highs Friday in the monthly jobs report from the U.S. Bureau of Labor and Statistics. The report also shows that the nation’s unemployment rate soared to highs not seen since the World War II era, climbing from 4.4% to… -
opinion
How Tiny Estonia Became an Outsized Partner for Economic Freedom
Estonia is a shining example of why freedom matters. Since the fall of the Soviet Union, this tiny northern Baltic country that shares a border with Russia has made huge progress in implementing democracy and economic freedom and in developing a strong national defense. Estonia has aligned itself with the West—particularly the United States—and since… -
opinion
Our Pharmaceutical and Medical Supply Chain Poses National Security Issue, Says Rep. French Hill
Rep. French Hill, R-Ark., recently proposed legislation to ensure that the U.S. expands its medical supply chain to decrease dependence on foreign manufacturers, including those in China. Hill joins The Daily Signal Podcast to discuss why is it important to do so, incentives to make it happen, whether decreasing dependence on China for pharmaceuticals would… -
opinion
Celebrating Earth Day by Increasing Economic Freedom Around the World
It's economic freedom that will save the earth. Apart from health care, no other big government policies and actions are more intrusive and economically distortionary than environmental regulations. Rather than relying on civil society, free markets, and a free press to ensure environmental quality and safeguards, a myriad bureaucrats and agencies in governments and international… -
opinion
What Would the Reopening of the Economy Look Like?
As our national lockdown drags on, Americans seem less and less inclined to move swiftly toward societal reopening. Perhaps that’s due to the consistent media focus on the risks of reopening. Perhaps that’s also due to the psychological comfort of the status quo: When we’ve been made to feel safe in our home, it’s difficult… -
opinion
As Joblessness Soars, Paycheck Protection Program Needs More Money, Fast
An additional 5.2 million people filed for unemployment benefits last week, bringing the total number of workers who have lost their jobs over the past four weeks to 22 million. That puts the unemployment rate at about 15.5%. Hopefully, many of these people will be able to go back to work once society starts returning… -
opinion
Kazakhstan’s Investment in Economic Freedom Pays Dividends
Kazakhstan recorded the fifth-largest gain in economic freedom of any country in the world over the past year, according to The Heritage Foundation’s 2020 Index of Economic Freedom. The country’s score (69.6 on a 0-100 point scale) puts it on the threshold of earning the index’s coveted “mostly free” designation. Ranked as having the 39th-freest… -
news
Free Market Group Calls on California, 4 Other States to Suspend Government Union Dues
If elected officials were to suspend the deduction of union dues from the paychecks of public-sector employees for three months, they could pump tens of millions of dollars back into the wallets of workers who are compelled to stay home, according to a free market think tank’s analysis of government records. The savings would be… -
opinion
Lawmakers Need to Reform Postal Service, Not Provide Massive Bailout
Democrats and U.S. Postal Service officials are seeking a $75 billion bailout from taxpayers. While they seek to blame the COVID-19 pandemic, the facts are plain. Unsustainable wage and benefit costs, along with unaffordable and inefficient service requirements in light of reduced demand—not the new coronavirus—are the real reasons for the Postal Service’s financial troubles…. -
opinion
Sending More Money to States Could Make Their Budget Problems Worse
The National Governors Association recently asked Congress for a bailout of $500 billion in addition to the more than $200 billion included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The money sought by the governors would be “unrestricted,” meaning its use need not be tied directly to COVID-19, the disease caused by… -
opinion
With Jobless Claims Soaring, Don’t Hold Aid for Small Businesses Hostage
For a third week in a row, Americans have experienced never-before-seen levels of initial unemployment insurance claims as businesses continue to lay off workers amid COVID-19 closures and slowdowns. Last week, an additional 6.6 million individuals filed for unemployment compensation, following a revised 6.9 million for the week that ended March 28, and 3.3 million…