“”Data on overall traffic trends supports the notion that the average flier has not been negatively affected by consolidation,” the Eno Center for Transportation, a research nonprofit, found in 2017. “As the industry has consolidated and grown throughout the decades, the number of seats that are available for passenger use—available seat miles—has increased multiple times over. By some measures, the cost of domestic air travel has remained level since 2006, adjusting for inflation.”
However, there is some evidence that certain mergers have led to price increases. As a 2016 data analysis by travel writer JT Genter found, “On average, airfares between former Delta and Northwest hubs increased substantially—much more than the national average—demonstrating that the Delta-Northwest merger wasn’t good for hub-based flyers.” Genter continued, “However, airfares between United and Continental hubs have seen much more modest increases over the last five years, and the fares have actually decreased on average over the last four years.”
Current evidence, though not uniformly supportive of all mergers, points toward them being generally good for consumers. Larger airlines tend to mean more flights at similar or lower prices—especially when traveling through hubs. Even when evidence points to some mergers resulting in price hikes for consumers, Warren and Padilla’s assertions that airline consolidation “routinely heaps inconvenience and abuse on consumers” are exaggerated.”
“The federal government’s decadeslong war on marijuana, one of the most life-mangling policies ever enacted, could be ended with a single sentence: The Controlled Substances Act shall not apply to marijuana.
Put it in a bill, vote on the bill, pass the bill, sign the bill, done. Much of the federal government’s drug war law enforcement machinery would grind to a halt. No legislative horse-trading, no Christmas tree–style gifts to favored constituencies, no giving old bureaucracies new responsibilities. Just the simple and urgent removal of the legal justification for grievous government harm.
This elegant approach, redolent of the 21st Amendment’s repeal of federal alcohol prohibition, is untenable to big-government lifers like Senate Majority Leader Chuck Schumer (D–N.Y.), as Jacob Sullum has repeatedly detailed in these pages. But it’s the shortest line to a point where a supermajority of Americans want policy to be. And it’s a template that could and should be used, at every level of government, by every flavor of politician.”
“The current legislation has swelled to a total cost of more than $400 billion. The core of the bill is $76 billion in direct funding for domestic semiconductor manufacturing through a variety of grants and tax credits. The rest of the money, beyond doubling the budget of the notoriously silly spenders at the National Science Foundation, is predictably a billion here and a billion there for vaguely named programs with even more ambiguous purposes. For example, as the Wall Street Journal editorial board pointed out, “The Commerce Department gets $11 billion, most of which it intends to plow into creating 20 new ‘regional technology hubs,’ which will somehow expand ‘U.S. innovation capacity.'””
…
“Proponents of the legislation would have you believe that the U.S. is overly reliant on foreign, unreliable suppliers of semiconductors, particularly those under threat from China. Semiconductors are unbelievably important components in practically countless goods relied on every day, but that’s no excuse to ignore the fact that the domestic semiconductor industry is, per a 2020 report by the Semiconductor Industry Association, “on solid footing.” U.S.-based semiconductor firms hold nearly half of the global market share, and 44 percent of that production already occurs in the U.S. Moreover, these figures don’t even capture firms based in allied countries such as South Korea and Taiwan that are currently spending billions of dollars to open semiconductor manufacturing facilities in the U.S.—without the need for funding.”
“China has recruited Federal Reserve economists for more than a decade to share sensitive and confidential information about U.S. economic policymaking in a bid to gain influence over the central bank, a Senate Republican charged in a report Tuesday.
The report from Sen. Rob Portman of Ohio, the top GOP lawmaker on the Homeland Security committee, detailed what Senate investigators called “long-running and brazen actions by Chinese officials and certain Federal Reserve employees” to replicate the playbook China has used to infiltrate the science and technology sectors. It involves recruiting industry experts to provide proprietary information or research in exchange for monetary benefits or other incentives, it said.
The Fed has failed to effectively combat the threat and doesn’t have sufficient expertise in counterintelligence or adequate policies to thwart China’s influence campaign, which includes efforts to obtain information about interest-rate decisions, the report concluded. It calls on Congress to enact bipartisan legislation that would enhance security around federally funded research, among other measures.”
“Getting your business vandalized sounds like punishment enough. For some San Francisco business owners, it’s just the beginning of their troubles.
A steady stream of restaurateurs and retailers have been complaining about the city’s practice of issuing them fines for not being quick enough to remove chronic graffiti being applied to their shopfronts and street cafes.”
“Chile’s draft constitution is even longer than Venezuela’s, which was redrafted by Hugo Chávez’ administration during his first year in office and set the stage for the country’s socialist revolution, descent into dictatorship, and ensuing economic collapse.
Venezuela has had 26 constitutions in a little over two centuries. In general, the practice of scrapping and rewriting constitutions helps to explain Latin America’s relentless political turmoil.
A constitution provides legal stability and predictability—like a computer operating system. Tampering with any foundational code creates security holes that are easily exploited by political opportunists looking to amplify their own power and overturn the established order.
Even if Chileans reject the new constitution—and, thankfully, polls indicate that they probably will—Boric can choose to start the process again with the election of yet another constitutional assembly to draft yet another version.
That could bring years of chaos, economic stagnation, and legal uncertainty. Now that Latin America’s free market experiment and “economic miracle” may be coming to an end, hopefully, the rest of the world can learn from the experience of Chile once again: Beware leftist pipe dreams.”