Last month’s column reviewed four long-term trends that have long slowed US economic growth and suppressed equity investment returns and will continue to do so, perhaps even more, in coming years. They are excess public spending and excess public regulation of all kinds. It also reviewed two trends that helped economic growth and returns before the turn of the century but since … [Read more...] about Free Market Watch
Free Market WatchCasey at the Bat US and Nevada Economic Outlook Part 1
The outlook wasn’t brilliant for the Mudville nine that day; The score stood two to four with but one inning more to play. …” begins Ernest Thayer’s famous baseball poem. Unfortunately, the outlook for US and Nevada economic growth and investment returns is also not brilliant this day, and the outcome may again be: “mighty Casey has struck out.” The reason is accumulation of … [Read more...] about Free Market Watch
Free Market WatchNevada Ranks Where in K-12 Education?
Nevadans hear regularly that we’re 49th or 50th among the states in K-12 education. Critics and reformers say so to support their policy proposals. Apologists and “educrats” say it to support more funding for public schools. The good news is the narrative that education in Nevada is last or nearly-last is false. Things are not great, but not nearly as dire as partisans … [Read more...] about Free Market Watch
Free Market WatchNevada PERS: The Good, The Bad and The Ugly
Pension plans require employers and employees to contribute to investment accounts that pay employees an income when they retire. Defined benefit plans, used by the Nevada Public Employees’ Retirement System (PERS), promise retirement incomes determined by employee’s contributions and assumption about what investment returns will be. To the extent actual returns differ from the … [Read more...] about Free Market Watch
Supreme Court Begins to Rein in Administrative State
At the end of its 2021-22 session, the U.S. Supreme Court issued major decisions greatly restoring Constitutional jurisprudence and the rule of law and getting the court out of politics. One of the most important was West Virginia vs. Environmental Protection Agency, which reversed 130 years of destructive metastasis of the federal administrative state developed by … [Read more...] about Supreme Court Begins to Rein in Administrative State
Nevada Firearms Securities DivestitureAn Empty Gesture
State Treasurer Zach Conine, a friend and fellow Nevada Business Magazine columnist, announced Nevada will divest $89 million in securities of companies that profit from the manufacture or sale of “assault-style” weapons. He did not provide a list of such companies but estimated the total value of Nevada’s gun-related holdings at $89 million on June 2, before sharp declines in … [Read more...] about Nevada Firearms Securities Divestiture
Nevada “No Party”Majority Voters and What they Want
Republicans are slowly closing in on Democrats in Nevada voter registration, but the real news is that neither is the largest party. That honor belongs to the rapidly growing numbers of folks who register with “No Party” (NPs), or as Independents, decline to state, etc. Recent in-depth survey research by a private organization has revealed the politics of these voters. (Full … [Read more...] about Nevada “No Party”
Problems for NevadaElectric Vehicles and Renewable Energy
Recently, Governor Steve Sisolak announced Nevada is joining some other states to promote electric big-rig trucks, large pickups, vans, delivery trucks and school and transit buses. This is in addition to prior commitments to electric autos and solar- and wind-powered electric energy. This initiative is based on claims electric vehicles (EVs) and renewable electric … [Read more...] about Problems for Nevada
COVID & Public PolicyPart Two of Two
Last month’s Free Market Watch commentary pointed out problems with Federal, Nevada and many other states’ policy responses to the COVID pandemic. The worst of it was their responses failed to observe the first principle of public policy. Namely, decisions and actions should serve the broad public interest, balancing all relevant factors and not considering only one or a … [Read more...] about COVID & Public Policy
Covid-19 and Public PolicyPart 1 of 2
Governor Steve Sisolak says “the science has changed” regarding Covid-19 and he can now lift mask, vaccination and other mandates. The fundamental problem with the policy response of Nevada, many states and our federal government, especially in regard to public health, is their failure to observe the first principle of public policy. Namely, decisions and actions should serve … [Read more...] about Covid-19 and Public Policy
Economic OutlookNobody Knows Nuthin’
Before COVID and lockdowns, the economy settled into a normalcy after the Great Recession of 2007-09. It was a unique time with record low interest rates and unprecedented Federal Reserve money printing. But monthly indicators moved along trend lines without great drama or many discontinuities, and we seemed to be in a new steady state of normalcy. So, in the 2018 Nevada … [Read more...] about Economic Outlook
Let’s Define BetterThe Damage the Build Back Better Bill Would Do
Key arguments supporting President Joe Biden’s Build Back Better (BBB) tax-and-spend bill have been thoroughly debunked, including some in this space last month. So, let’s examine the major damage it would do to see why Nevada’s congressional representatives should oppose it. Its problems start with misrepresentations by proponents of the facts. Their most outrageous claim … [Read more...] about Let’s Define Better
Economic MobilityKeeping the American Dream Alive
With Nevada’s Congressional delegates facing votes on President Joe Biden’s proposed income tax increases, questions of wealth and income distribution, tax fairness, economic growth and economic mobility have become central in public debate. A study of literature and empirical studies on economic mobility show there is still substantial economic mobility from generation to … [Read more...] about Economic Mobility
Progressivism, the Administrative State and the Public Interest
Ron Knecht is Senior Policy Fellow at Nevada Policy Research Institute As Ben Franklin left the Constitutional Convention on September 17, 1787, he was asked what kind of government we would have. “A Republic,” he replied, “if you can keep it.” The Founders addressed that and other challenges by establishing checks and balances among three branches of the federal … [Read more...] about Progressivism, the Administrative State and the Public Interest