RECOMMENDED READING
American Compass Releases Conservative Economic Agenda for 118th Congress
Hayek’s Broken Promise
Comparative Disadvantage

Earlier this summer, a highly unpopular President Joe Biden floundered in the White House. He was facing multiple crises — Russia’s war in Ukraine, crime on America’s streets, record migrant crossings at the southern border, surging gas prices and inflation and stalled economic growth.

Polls and forecasts pointed to a Republican Party romp in the upcoming midterms. But Republican candidates failed to capitalize on that momentum, and party strategists are beginning to sweat about their likely margin in the House of Representatives and their chances of winning a Senate majority at all.

Candidates and incumbents don’t decide whether gas prices are going up or down, but one important factor they can control is the agenda they present to voters — their broad priorities and their actual plans. It’s here that Republicans seem determined to sabotage their own chances, by refusing to say anything at all.

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Oren Cass
Oren Cass is the executive director at American Compass.
@oren_cass
Recommended Reading
American Compass Releases Conservative Economic Agenda for 118th Congress

Today, American Compass is releasing New Direction: Conservative Principles & Policies for the 118th Congress, an agenda for economic renewal, focused on the interests of worker, their families and communities, and the nation.

Hayek’s Broken Promise

It is a tragedy that Friedrich Hayek’s excesses, invested with the authority of his (deserved) reputation, became the unexamined default for right-of-center economic thinking in America.

The resulting orthodoxy too often combines a Panglossian insistence on defending market outcomes regardless of their quality with a reflexive belief that policy intervention can only be distortive for the worse.

But when it comes to international trade’s effect on the American economy, a knowing assertion that nothing should be done, followed by yet another “analysis” working backward to an argument that nothing needs doing, will no longer do.

Comparative Disadvantage

If comparative advantage is created rather than discovered, refusing to play the game has consequences.