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

American consumers should watch their spending choices to reduce the impact of excessive inflation on everyday goods, American political author and commentator Oren Cass told Consumers’ Research (CR) in a Feb. 24 webinar.

Cass spoke at “The Persistent Thief: How underestimating inflation is depriving consumers of the American Dream,” a CR event moderated by executive director Will Hild. The two discussed problems with measuring and calculating American inflation and why the typical American consumer may be concerned.

“Looking at your budget and asking, ‘what is the most my budget can afford?’ isn’t a good choice,” Cass said.

He provided a scenario where a consumer is house hunting but chooses to spend more towards the higher end of their budget. “All things considered, there’s been a growth in the size of an average house in recent decades that I think is entirely uncorrelated with people’s needs and wellbeing.”

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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.