Last time, this column reviewed a United States Supreme Court case, Jarkesy, that may end the power of regulatory agencies to act as both prosecutors and judges in matters under their jurisdiction. Since this is a common feature of regulation, a ruling by the court in favor plaintiff Jarkesy – which seems likely – would require extensive reform of regulations in at least 30 … [Read more...] about Free Market Watch
Nevada Policy Research Institute
Free Market WatchNevada PERS the Best and Perhaps the Worst: Why?
Nevada’s Public Employees’ Retirement System (PERS) has the best investment strategy among public retirement systems in the country and one of the best records of return. It also has one of the worst records in openness, transparency and accountability. Why? The last six years’ annual percentage returns have been 9.1, -5.1, 27.3, 8.5, 8.6 and 11.9. That’s a cumulative … [Read more...] about Free Market Watch
Free Market WatchDemocrats & Teacher Unions Wrong in Principle on Opportunity Scholarships
In August, legislative Democrats turned down Governor Joe Lombardo’s proposal to fund Nevada’s Opportunity Scholarship program reasonably from surplus funds available, and they left the funding at a minimum level. But Lombardo pulled a rabbit out of the hat and found enough private reserve funding to keep hundreds of students already in the program from losing scholarships this … [Read more...] about Free Market Watch
Free Market WatchSolutions for Some of Our Biggest Public Policy Problems
Last month, this space listed our three biggest, most challenging public policy problems: 1) excess government spending, causing inefficiency and low government productivity; 2) proceduralism, the long public review processes, slow agency response times, and delays; and 3) overreach, inherently ineffective government policies akin to pushing instead of pulling on a string. An … [Read more...] about Free Market Watch
Free Market WatchWaste, Fraud and Abuse Are Not the Biggest Problems … These Are
People often ask public officials about government waste, fraud and abuse – salient problems for sure. They’re often big problems, albeit difficult to ferret out, prove and remedy. The bigger and nearly universal problems resemble them, but are more subtle and challenging to show and remedy. Those problems are: excess government spending, leading to inefficiency and low … [Read more...] about Free Market Watch
Free Market WatchWhat Is Economic Growth and Does It Really Matter?
Recently, I tripped on a defective structure in Reno, fell and broke my hip. An ambulance took me to Renown Hospital, where I got great treatment from a wonderful staff and left four days later with my sainted wife Kathy driving. With me benefiting from strong pain meds and feeling relief and optimism on a sunny day, I waxed philosophical. I noted how smooth were the streets … [Read more...] about Free Market Watch
Free Market WatchA Toxic Belch of Swamp Gas from the Regulatory Marsh
Another belch of environmental swamp gas is rising from the depths of the federal regulatory marsh. Of course, it looks and sounds so innocent, benign and even beneficial - something Nevada investors, businesses, public investment funds, investment fund managers and citizens should welcome, not fear. But it is toxic to all of them and thus to our economy and the public … [Read more...] about Free Market Watch
Free Market WatchGov. Lombardo’s Solutions for Nevada Education
Governor Joe Lombardo has proposed record funding for Nevada education: billions of dollars in increases. He also did two other important things. First, he said our PK-12 public-school monopoly would be held to measurable improvements in student achievement or their funding increases will be reconsidered. Thus, we won’t repeat the key mistake of the past: throwing money … [Read more...] about Free Market Watch
Free Market WatchEconomic Inequality, Poverty and Income Stagnation
With Nevada’s legislature and the U.S. Congress now in session, folks hear constantly about economic inequality (the rich getting richer and poor getting poorer), growing poverty, the stagnation of most incomes, and needs for more income redistribution. The inequality myths were roundly rebutted in the last Controller’s Annual Report (CAR) in 2018 (full disclosure: authored by … [Read more...] about Free Market Watch
Free Market WatchSome Facts and Analysis of Nevada’s 2022 Vote
The Nevada Wins Political Action Committee (PAC) has done some analysis of the 2022 Nevada election results and produced some insights, summarized below. (Full disclosure: I’m President of the PAC.) At the state level, one notable fact is that independents, non-partisans and members of small parties (here, “Others”) are now clearly the largest faction in Nevada politics, … [Read more...] about Free Market Watch
Free Market WatchSlow Growth, Low Returns: US and Nevada Economic Outlook Part 2
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
Proposed Tobacco Tax LawsHarming Nevada Small Business and Households
Kenneth Evans is President at Urban Chamber of Commerce Throughout Nevada, our chambers of commerce strive to create a favorable environment for every type of business imaginable. By promoting entrepreneurship, economic development, and job opportunities, we can ensure a better life for every Nevadan and their families. It’s easy to forget that when you boil it down, … [Read more...] about Proposed Tobacco Tax Laws
The Public Education Monopoly is Not Long for This World
Our one-size-fits-all public education model simply isn’t up to the challenges faced by a post-pandemic world. Although, to be fair, it wasn’t exactly knocking it out of the park prior to the pandemic either. Nonetheless, the seismic disruptions to our world—economically, socially and culturally—are demonstrating the full extent of such a system’s shortcomings. As usual, … [Read more...] about The Public Education Monopoly is Not Long for This World
The Twenties are Already Amazing, and No One is Noticing
The roaring twenties are upon us — and no one seems to notice just how amazing the world actually is. By virtually every metric, the human condition is better today than ever before. In America, and across the world, we’re living longer, healthier and more prosperous lives. In fact, for the first time in recorded human history, the majority of people on this planet are … [Read more...] about The Twenties are Already Amazing, and No One is Noticing