Do immigrants destroy American institutions?

Do immigrants destroy American institutions?

In a new paper (forthcoming in the Cato Journal), LSPI Texas Policy Fellow Meg Tuszynski and her SMU colleague Dean Stansel examine this question empirically, and find little – if any – evidence in support of this conjecture. Previous literature has assessed this question using immigrant populations as a whole, and found mixed results. In this paper, Tuszynski and Stansel ask…

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A Professional Investor’s Take on the Naïveté of American Compass

A Professional Investor’s Take on the Naïveté of American Compass

As a professional money manager working in public markets, I love watching how we are portrayed in popular culture. Sometimes we are the card-shark poker player staring down an opponent a la Billions, sometimes the swashbuckling economist like Jack Ryan (who does surprisingly little economics). Thankfully, however, the job is never portrayed as it actually is. I can forgive script writers who exaggerate for…

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The Hill: Recovery First: The American comeback shouldn’t hinge on warmed-over policy agendas

The Hill: Recovery First: The American comeback shouldn’t hinge on warmed-over policy agendas

As the nation slowly starts down the road to economic recovery, we hear a steady drumbeat of calls to condition government assistance on meeting pre-virus social justice goals. From implementing regulatory burdens championed by environmentalists to restricting private enterprise by anti-capitalists and demands for protectionist trade policies, those on both the right and the left have taken Rahm Emanuel’s sinister advice following the 2008…

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Real Clear Markets: The Right’s New Free-Enterprise Detractors Take Aim at Private Equity

Real Clear Markets: The Right’s New Free-Enterprise Detractors Take Aim at Private Equity

A new think tank by the name of American Compass recently made headlines as a “conservative” foe of private equity by launching its new “Returns Counter.” This project purports to compare the returns of private equity against public capital markets, and was launched with a politicized primer on mergers and acquisitions, private equity, and hedge fund investments. Wells King, research director at…

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A Behavioral Economics Perspective: Why People are Perfectly Rational for Going to Work Amidst COVID-19

A Behavioral Economics Perspective: Why People are Perfectly Rational for Going to Work Amidst COVID-19

Tensions surrounding the COVID-19 lockdowns are exceptionally high. Protestors across the US, Germany, France, and Spain—to name just a few—have rallied en masse to demand the lifting of legally-imposed quarantines. Now that economies have begun to reopen, social media has become its own battleground with many urging—even outright shaming—others to stay home and not go to work. So why hasn’t…

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Acton: How Private Institutions like the Church can respond to the Coronavirus pandemic

Acton: How Private Institutions like the Church can respond to the Coronavirus pandemic

If you had you asked someone on New Year’s Day of 2020 what they envisioned the year ahead might look like, few would’ve imagined that the first few months would be spent canceling trips, events, and academic semesters. Families and college students hadn’t planned to spend their spring break in quarantine. Most businesses didn’t enter the year in fear of…

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Real Clear Markets: Americans Must Be Allowed to Safely Get Back to Work

Real Clear Markets: Americans Must Be Allowed to Safely Get Back to Work

Make “Safety” not “Essential Services” the Test Ravaged by COVID-19, the American economy is on the precipice of economic free fall. Federal Reserve Bank of St. Louis President James Bullard has forecasted a 30% U.S. unemployment in the second quarter and a possible GDP plunge of 50%. Goldman Sachs has made similar warnings about our economic trajectory. American businesses are not merely struggling with…

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FEE: Should Corporations Consider Any “Stakeholders” Other Than Shareholders?

FEE: Should Corporations Consider Any “Stakeholders” Other Than Shareholders?

CS Lewis, the famed author of The Chronicles of Narnia, once discussed the distinction between advancing ethics and advancing knowledge of facts. In Lewis’ view, ethics changes remarkably little over the years. What changes, and changes rapidly, is our knowledge of how the world works. This advancement of knowledge informs our application of ethical norms, and it is advancing knowledge…

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On Stock Buybacks, Congress Has No Business Telling Companies How to Manage Their Balance Sheets

On Stock Buybacks, Congress Has No Business Telling Companies How to Manage Their Balance Sheets

Although the United States government has run up a national debt that exceeds the Gross Domestic Product, two spendthrift United States senators have the temerity to lecture American corporations about how the latter should manage their balance sheets. Senators Bernie Sanders (I-VT) and Charles Schumer (D-NY) recently proposed forthcoming legislation that aims to prevent corporations from buying back their own…

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FEE: What Techno-Futurists Get Wrong about the Economy

FEE: What Techno-Futurists Get Wrong about the Economy

We are living in an exciting time where technological innovation is changing the way we live, work, do business, and fall in love. The economy is changing, but does this mean that “economics” itself will change? Some futurists say so. Writers like Kevin Kelly suggest that artificial intelligence and machine learning are inexorably leading us toward the end of work. With the…

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