by Dan Mitchell | Aug 26, 2023 | Blogs, Economics
Industrial policy is when politicians use subsidies, mandates, protectionism, and other forms of intervention to provide unearned benefits to a specific companies and/or specific industries. The politicians claim that the free enterprise system somehow...
by Dan Mitchell | Aug 16, 2023 | Blogs, Economics, Free Market
Bad policies (industrial policy, protectionism, rent control, minimum wage laws, etc) have a common feature, which is that politicians are trying to replace the “spontaneous order” of markets with intervention and planning. In this new video, John...
by Dan Mitchell | May 4, 2023 | Blogs
It’s baffling and discouraging that some American politicians are pushing for industrial policy when it has a track record of failure. Because of real-world political considerations, such policies inevitably get captured by...
by Dan Mitchell | Apr 2, 2023 | Big Government, Blogs
At the risk of oversimplifying, here’s the three-sentence trajectory of Chinese economic policy. Crippling communist failure and suffering under Mao.Partial reform during the “Washington Consensus” era.Backsliding to more...
by Dan Mitchell | Mar 2, 2023 | Blogs
Most examples of Mitchell’s Law involve government passing a bad law (increase in minimum wage) that leads to a bad consequence (fewer jobs), which then becomes the excuse for a new bad law (job training programs). Sometimes, though, politicians don’t...
