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Four years after the financial crisis, new jobs still aren’t materializingsufficiently. What’s more, the Supreme Court recently signaled it might find Obama’s principal achievement, health-care legislation, unconstitutional. In the 1890s, the state of New York passed a Bakeshop Act, limiting hours to 10 a day and 60 a week. Joseph Lochner regarded this law as an intrusion that inhibited his efforts at commerce. Lochner won in the U.S. Supreme Court. New York State did not have the right to interfere in private contracts, the court said. In Wickard v. Filburn, the court said even wheat consumed by a farmer on his own farm could be regulated; in National Labor Relations Board v. Jones & Laughlin Steel Corp., it found a heavy-handed labor law, the Wagner Act, constitutional. Federal lawmakers have since felt confident writing other regulations. None of these laws sounds bad. But the cumulative effect of such laws is to inhibit the freedom of the employer enough that he or she hesitates to rehire. The full text posted on Bloomberg.com here: http://www.bloomberg.com/news/2012-04-11/obama-is-right-on-labor-s-past-wrong-on-jobs.html This post was written by Amity Shlaes, Director of the 4% Growth Project at the George W. Bush Institute. Find her on Twitter @AmityShlaes.
TARIFF-IED: Trade Talk with Matthew Rooney
This week, trade relations between the U.S. and India are continuing to escalate. Earlier this month, the U.S. stopped granting India special trade privileges by taking away the Generalized System of Preferences (GSP) program, and India has responded by enforcing more tariffs of its own. The George W. Bush-SMU Economic Growth Initiative Director Matthew Rooney breaks down the trade conflict: For more information on trade groups and the global economy, visit www.bushcenter.org/scorecard.
How Trade Spreads Holiday Cheer
It is projected that the average American household will spend more than $1,000 during the holidays this year.
Deporting Salvadorans May Lead to Economic Decline
We should think carefully about a policy whose major impacts are likely to be reductions in employment and economic activity here at home, and increased instability and lawlessness along our borders.
Bush Institute's Laura Collins Talks Immigration on Good Morning Texas
Last week, Deputy Director of Economic Growth at the George. W. Bush Institute Laura Collins spoke with Good Morning Texas about immigration myths. During the interview, Collins had the opportunity to set the record straight and address common misconceptions about legal immigrants living in America today. The segment was inspired from facts released earlier this fall by the Bush Institute in the third edition of America's Advantage: A Handbook on Immigration and Economic Growth. Watch the full Good Morning Texas interview here.