“Some Comments on a NY Times Op‐Ed on the WTO” By Simon Lester, courtesy of the Cato Institute Yesterday, Farah Stockman of the NY Times editorial board published an op‐ed on the World Trade Organization entitled “The W.T.O. Is Having a Midlife Crisis.” The WTO is only 25 years old, so I’m not sure “midlife crisis” […]
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Black Markets Reveal the Power of Economic Laws
By Allen Gindler, courtesy of FEE, via Fundacion BASES If we consider economics to be an objective science, its rules should also have universal meaning and use, despite differences in social order. However, socialists in the materialist camp are committed to the idea that common ownership of the means of production would change the […]
Deflation: Friend or Foe?
By Luis Pablo de la Horra, courtesy of the Austrian Economics Center Deflation is the most feared economic phenomenon of our time. The reason behind this a priori irrational fear (why should we be afraid of prices going down?) is the Great Depression. The most severe economic crisis of the 20th century was accompanied by a […]
“Most Favored Nation” Scheme May Lower Prices, But It Won’t Help Medicare Beneficiaries
By Krisztina Pusok, American Consumer Institute Back in September, President Donald Trump signed an Executive Order that instructed the Department of Health and Human Services (HHS) to design a “payment model” that would see Medicare Part B beneficiaries and the federal government pay “no more than the most-favored-nation price” for medication. Recently, the HHS announced […]
OECD Tax Proposal Will Harm Environmental Protections
By Steve Pociask, American Consumer Institute Last October, the Organization for Economic Cooperation and Development (OECD) released its Pillar One and Pillar Two Blueprint, a plan that would fundamentally change tax rules between nations. The OECD also gave, until December 14th, an opportunity for public comments. In the comments we submitted, we concluded that […]
Washington Beyond the Headlines: Deregulation to Speed Vaccination
By Andy Blom, TES Washington Editor While we wait and wonder about the presidency, the pandemic, promised vaccines, pending Brexit and Jeffrey Toobin’s p— er never mind,,, anyway while all that remains up in the air, Free Market advocates and organizations will keep on working, doing the critical policy work that makes a difference. […]
Prescription Drug “Rebates” Raise Prices, Limit Drug Choice, and Make Patients Sicker
By Erik Sass Anti-competitive practices in the prescription drug marketplace like “rebate walls” routinely cost ordinary Americans thousands of dollars every year while restricting patient access to medications. These costs and restrictions will only grow more onerous in years to come, unless the incoming Biden administration acts swiftly to take on these anti-market arrangements. […]
Global Voices Sound Alarm Against Price Controls for Medicines
Courtesy Austrian Economics Center The Austrian Economics Center (AEC) has expressed its concern with the intention of the US government to establish an International Reference Pricing (IRP) for medicines. Indeed, in recent years, the US has stayed on the drug pricing issue with key proposals in the form of executive orders by President […]
Good ideas that benefit the masses are the keys to becoming rich
By Dr. Rainer Zitelmann, TES Contributor A son of Turkish immigrants has become a multi-billionaire thanks to an innovative Covid-19 vaccine. Wealth is the reward for anyone who has good ideas that create benefits for the masses – regardless of their background. “Ideas Will Make Your Rich” is the name of one of […]
The Pentagon wants a new fighter. How will it prevent another F-35 debacle?
By Chris Nagavonski, TES Contributor The Department of Defense is still scrambling to address potentially-crippling flaws in the Lockheed Martin F-35 fifth-generation fighter jet, even as the number of aircraft produced for the United States and allied nations approaches 600. While the program drags on, the Air Force is already designing and testing a […]