A deep dive into the most pressing challenges of our time.

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December 4, 2024

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

Dear Readers,

As the holiday season transitions from Thanksgiving gratitude to Christmas cheer, it’s a good time to reflect on the challenges and opportunities that shape our lives. This week, we cover issues impacting your wallet, your home, and even the cars on the road.

We explore how zoning laws exacerbate the housing crisis, why subsidizing energy efficiency may do more harm than good, and what “misinformation watchdogs” really mean for free speech. We also unpack the long-term implications of COVID-19 policies, alarming federal spending trends, and the global competitiveness of U.S. automakers.

Thanks for reading.

Jonathan Hofer
Managing Editor

Top picks this week
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** The US Apartment Shortage is Zoning Working as Intended ([link removed])
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** by Christopher Calton
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The apartment shortage, in other words, represents zoning policies operating exactly as intended. If we truly want to address the housing shortage, it is past time to abolish zoning in its entirety.
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** Why Subsidizing Energy Efficiency Is a Bad Idea ([link removed])
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** by Kenneth W. Costello
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Is it equitable and good public policy to compel utility customers and taxpayers to pay for EE initiatives? Short answer: no.
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** Misinformation Watchdog or Taxpayer-Funded Censor? ([link removed])
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** The Government's Role in NewsGuard’s Operations Raises Constitutional Questions ([link removed])
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** by Phillip W. Magness
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While NewsGuard claims that it is only policing known and verified “misinformation” from other sources, the company’s track record suggests that it contributes to spreading online misinformation of its own at taxpayer expense.
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** COVID-19 Vaccines and the Ratchet Effect: Lessons from Crisis and Leviathan ([link removed])
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** by Raymond J. March
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Unfortunately, as we have learned over the past four years, the government’s answers to difficult problems are universally political and scarcely scientific. This is even the case for vaccines.
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** U.S. Government Starts 2025 Fiscal Year Deep in the Red ([link removed])
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** by Craig Eyermann
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The U.S. Treasury Department reported that the federal government spent $257 billion more than it took in as revenue in October 2024. That is the second-worst figure ever recorded for the first month of the fiscal year.
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** Why The World Buys Chinese And Other Foreign Cars ([link removed])
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** While other countries buy smaller and cheaper vehicles, Americans are locked out. ([link removed])
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** by Scott Beyer
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If U.S. automakers can’t compete on cost, protectionism will only delay the inevitable.
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** FEATURED BOOK
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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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