This week, we're revealing the hidden forces behind heavy industry and infrastructure.

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September 11, 2024

Welcome to The Lighthouse ([link removed]) , the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.

This week, we’re revealing the hidden forces behind heavy industry and infrastructure.

As the White House inches closer to blocking Nippon Steel’s billion-dollar bid for US Steel, early reports suggest the move is being justified as a matter of national security. But as Scott Semet reveals, the real story is one of political maneuvering aimed at appeasing voters in key battleground states ahead of the upcoming election—with both parties backing this highly problematic economic decision.

Beyond the steel saga, Paige Lambermont unpacks how federal subsidies for wind and solar are quietly threatening the reliability of the US power grid, while Scott Beyer takes on the classic NIMBY argument that city growth contributes to America’s bland urban landscapes, showing how design codes and regulations are actually what’s stifling architectural creativity.

Happy reading.

Jonathan Hofer
Managing Editor

Top picks this week
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** The Hidden Politics Behind the Nippon-US Steel Deal ([link removed])
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** by Scott Semet
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Behind the headlines, the contentious Nippon-US Steel acquisition deal is a mix of political posturing and log-rolling. What does this mean for both the steel industry and the American public? Nothing good.
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** New Paper Shows the Problem with Power Subsidies ([link removed])
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** Wind and solar receive the lion’s share while producing less power ([link removed])
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** by Paige Lambermont
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A new paper reveals just how much federal wind and solar subsidies undermine grid reliability—and inflate the cost of energy in the process.
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** Design Rules Don’t Make Nicer Buildings ([link removed])
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** New buildings are criticized for their cookie-cutter architecture, but design review rules and other regulations help cause the problem. ([link removed])
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** by Scott Beyer
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No one wants an ugly new condo built in their backyard—but don’t blame modern developers for the ugliness. Excessive, burdensome government regulations are the reason for the cookie-cutter, utilitarian “designs” that everyone hates.
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** PODCAST
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** Victor Davis Hanson: Mass Immigration and the Clash of Cultures ([link removed])
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** The Independent with Scott Atlas
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Victor Davis Hanson, world-renowned scholar of classics and military history, returns for another episode with Scott Atlas. They discuss immigration, patriotism, nationalism, and the clash of cultures and values in America today.
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** FEATURED BOOK - COMING SOON!
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** Good as Gold ([link removed])
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** How to Unleash the Power of Sound Money ([link removed])
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** Judy Shelton
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With clarity and moral courage, Judy Shelton has written a must-read for anyone invested in the future of the economy. You’ll walk away with more answers than questions—a rare experience for anyone who reads about monetary policy.
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