U.S. Economy

The UAW's strike against US automakers will do long-term damage to the domestic auto industry. Unfortunately, unions and their advocates will learn nothing from this debacle.

Another Labor Day has passed with the same pro-union rhetoric dominating the media and politics. However, being pro-union is not the same as being pro-labor, especially given that unions often are the most anti-worker entities in our political economy.

In the wake of bad news on inflation, the Federal Reserve is pushing up interest rates. However, a Fed-induced higher rate is not the same as an interest rate decided by the market.

Compared to how most other people in the world live, Americans have a high standard of living. And despite the talk about inequality, there is more economic and social mobility here than anyplace else.