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

Repeating History's Mistakes

Back to the Antitrust Future

February 4, 2023

President Joe Biden's appointees to the Federal Trade Commission (FTC) are resurrecting antitrust policies abandoned in the 1970s because they harmed consumers, writes AEI's Timothy J. Muris, a former FTC chairman. On February 1, Mark Jamison moderated an event with Muris and Deborah Platt Majoras, another former FTC chairman, on how ongoing antitrust revisionism upends an economics-based consensus and threatens consumer welfare.

 

 

In National Review, Scott Winship defines the American dream's dual promise: "that life should be better for each generation, and that everyone should have a chance to achieve their aspirations if they work hard and play by the rules." Winship evaluates how the American dream is faring in each regard.

 

Bruce D. Meyer, Kevin Corinth, and Derek Wu measure a substantial drop in poverty among single-parent families between 1995 and 2016. Linking survey data with "an extensive set of administrative tax and program records," Meyer, Corinth, and Wu find that single-parent-family poverty fell by 62 percent, accounting for taxes and nonmedical transfers.

 

Writing in the Wall Street Journal, Andrew G. Biggs proposes capping Social Security's maximum retirement benefit as a first step toward reforming the program. "A cap would put a dent in Social Security's 75-year funding gap of more than $20 trillion and send a message that government benefits to high-income retirees can't be unlimited," writes Biggs.

 

In his latest video for Straight Arrow News, Matthew Continetti observes how Florida Gov. Ron DeSantis has intervened in cultural debates to promote an "anti-woke" form of conservative populism while building his reputation for competent governance.

Why Public-Private Partnerships Can Be Expensive: The Case of the Federal Crop Insurance Program

In a new AEI Agricultural Policy Studies report, Vincent H. Smith assesses the role of government subsidies and mandates in shaping the crop insurance industry. Crop insurance is a form of federally subsidized disaster insurance provided by private corporations for farmers. Smith finds that the industry was essentially created and expanded by federal legislation starting in 1980 and would likely not exist in its current form without these laws. Smith estimates that, under the current regime, crop insurance revenues ballooned to a record $4.68 billion in 2021, "all of which effectively has come at the taxpayer's expense." Smith concludes by questioning private-sector involvement in crop insurance, given how the extant program has enabled billions of dollars in rent-seeking by private insurers.

 

 

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QUOTE OF THE WEEK

Biden is betting that there is a sweet spot at which the Russians will be reeling badly enough to negotiate but not to escalate, and at which the Ukrainians—having won a stronger position—will agree to stop short of what they desire and deserve.

Hal Brands