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AEI's weekly digest of top commentary and scholarship on the issues that matter most

Reviving Competition and Opportunity

Markets for the People

June 22, 2024

Rapid globalization and technological change have left too many Americans behind, but the failure of Bidenomics is a reminder that doubling down on industrial policy is not the solution. In a new essay for National Affairs, AEI economist R. Glenn Hubbard proposes a revitalized free-market policy agenda that could rebuild opportunity and prosperity for all Americans.

 

 

The task of rebuilding opportunity extends beyond straightforward economic policy. Also writing in National Affairs, Center on Opportunity and Social Mobility Director Scott Winship analyzes Americans’ own understandings of the American Dream to show that rebuilding families and social capital is essential to tackling the grievances that have driven populist resentment.

 

In these efforts to preserve and strengthen the American Dream for the next generation, will artificial intelligence be an asset or a threat? In another essay in the new issue of National Affairs, AEI Economic Policy Director Michael R. Strain makes the case for AI optimism and proposes a policy agenda to secure AI’s transformative benefits without leaving Americans behind.

 

The American economy’s strength and dynamism are also among our greatest assets in our competition with China. Even though the US has managed its debt irresponsibly, a new AEI report from Derek Scissors reveals that China’s own colossal debt mismanagement has crippled its chances to surpass America economically.

 

Before joining AEI, President Robert Doar led social services programs in New York state and New York City for over 20 years. In a new essay for the Journal of Policy Analysis and Management, coauthored with Maria Cancian, dean of Georgetown University’s public policy school, Doar draws from these experiences to explain why child support enforcement remains an essential policy tool for children and parents and how Republicans and Democrats can work together to improve it.

The California Effect, Process-Based Regulation, and the Future of Pike Balancing

Last year, the Supreme Court decided National Pork Producers Council v. Ross, upholding a California law that banned the sale of pork meat raised from other states without following California animal welfare standards. While the court decided the California law did not violate the dormant commerce clause doctrine by unduly burdening or discriminating against interstate commerce, the fractured opinion settled few questions about the doctrine’s future application. In a new law review article for the Supreme Court Review, Jack Landman Goldsmith and Alan Sykes evaluate the Court’s holding and suggest a more workable method for courts to balance the out-of-state costs against the in-state benefits of state regulations. While economic analysis is not empirically straightforward for courts, they argue it remains the best tool to determine when these costs become unconstitutionally excessive.

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QUOTE OF THE WEEK

There will always be a need to balance parents’ rights with the duties of the state to protect children. But for the past couple of decades, agencies have been increasingly siding with parents. And the results are concerning: Maltreatment fatalities have risen every year for the past six years—a 13% rise overall.

Naomi Schaefer Riley