Antitrust and International Competition
The European Union often uses its antitrust powers to protect EU-based firms from international competition, rather than to promote greater competition in European markets.
Autonomous Cars
Over the next decade, autonomous cars will raise average welfare in the US by at least as much as smartphones have over the past decade.
Responses
Occupational Licensing for Economists
This week's IGM Economic Experts Panel Statement:
Restricting eligibility for senior government economic-policy posts by requiring a graduate degree in economics would reduce the chances for good public policy outcomes.
Restricting eligibility for senior government economic-policy posts by requiring a graduate degree in economics would reduce the chances for good public policy outcomes.
China-Europe Trade
This week's IGM European Economic Experts Panel Statements:
A) Trade with China makes most Europeans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Europeans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
C) If the EU followed the new US steel tariffs by imposing similar EU tariffs on steel from China, it would improve Europeans’ welfare.
A) Trade with China makes most Europeans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Europeans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
C) If the EU followed the new US steel tariffs by imposing similar EU tariffs on steel from China, it would improve Europeans’ welfare.
The NCAA
This week's IGM Economic Experts Panel Statement:
NCAA Division I schools coordinate compensation for men’s basketball and football players (precluding actual pay and limiting non-monetary benefits), providing rents to member schools (which may be shared with others) at the expense of those players.
NCAA Division I schools coordinate compensation for men’s basketball and football players (precluding actual pay and limiting non-monetary benefits), providing rents to member schools (which may be shared with others) at the expense of those players.
Greece
This week's IGM European Economic Experts Panel Statements:
A) Assuming it exits its third bailout program this summer without an immediate restructuring or other debt relief, Greece is unlikely to default on its sovereign debt in the coming decade.
B) Greece would be better off if it had decided to exit the euro between 2011 and 2015.
C) If Greece had defaulted on (or restructured) its private debt in 2010, while also staying within the euro, that combination would have been better for Greece than either exiting the euro or proceeding as it has actually done.
A) Assuming it exits its third bailout program this summer without an immediate restructuring or other debt relief, Greece is unlikely to default on its sovereign debt in the coming decade.
B) Greece would be better off if it had decided to exit the euro between 2011 and 2015.
C) If Greece had defaulted on (or restructured) its private debt in 2010, while also staying within the euro, that combination would have been better for Greece than either exiting the euro or proceeding as it has actually done.
Steel and Aluminum Tariffs
This week's IGM Economic Experts Panel Statement:
Imposing new US tariffs on steel and aluminum will improve Americans’ welfare.
Imposing new US tariffs on steel and aluminum will improve Americans’ welfare.
Supplemental Nutritional Assistance Program
This week's IGM Economic Experts Panel Statements:
A) By providing electronic benefit cards to choose and buy groceries at stores, the Supplemental Nutrition Assistance Program currently does more for its recipients' well-being than it would if the program directly provided a smaller array of foods to its recipients, while commensurately reducing the amount they could spend on groceries of their own choosing.
B) By providing electronic benefit cards to choose and buy groceries at stores, the Supplemental Nutrition Assistance Program currently does more to raise food security and reduce hunger than it would if the program directly provided a smaller array of foods to its recipients, while commensurately reducing the amount they could spend on groceries of their own choosing.
A) By providing electronic benefit cards to choose and buy groceries at stores, the Supplemental Nutrition Assistance Program currently does more for its recipients' well-being than it would if the program directly provided a smaller array of foods to its recipients, while commensurately reducing the amount they could spend on groceries of their own choosing.
B) By providing electronic benefit cards to choose and buy groceries at stores, the Supplemental Nutrition Assistance Program currently does more to raise food security and reduce hunger than it would if the program directly provided a smaller array of foods to its recipients, while commensurately reducing the amount they could spend on groceries of their own choosing.
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