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Gavin Newsom’s gas-powered vehicle ban: the wrong approach to fight climate change

One would expect that the decades-long exodus of low- and middle-income residents fleeing California would be cause for reflection and self-critical introspection on behalf of its effective one-party government. Skyrocketing costs of living and a cratering middle class – caused by years of anti-business regulation, powerful public sector labor union monopolies, and one of the highest tax burdens in the nation – should be ample reason for the Golden State’s progressive leadership to reassess its approach to governance. Continue Reading...

When cronyism meets ‘creative destruction’

Amid rapid globalization, Americans have faced new pressures when it comes to economic change, leading to abundant prosperity, as well as significant pain and disruption across communities. In search of a villain, populists and progressives routinely blame the expansion of free trade and rise of global conglomerates, arguing that entrenched and moneyed interests are now allowed to run rampant from country to country with little competition or accountability. Continue Reading...

COVID-19 and crony capitalism

Who wins in the COVID-19 economy? In some cases, outright fraud allows businesses to prosper. In other cases, political connections enable businesses to collect revenue from the federal government. Crony capitalism is defined by the Mercatus Center as “an economic system in which the profitability of firms in a market economy depends on political connections.” Continue Reading...