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Already battered down by the Covid-19 shutdown, restaurants fear growing lawlessness in Minneapolis will kill their business

Businesses in Minneapolis are right to fear that growing lawlessness will kill their business. No individual or business thrives in an environment where they feel unsafe. If this trend continues, it will not be long before Minneapolis faces a mass exodus of businesses as well as productive individuals. ...

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10 states have enacted major occupational licensing reforms since 2019

Since 2019, 10 states have enacted major occupational licensing reforms enabling more freedom in their economies. This a good sign that states are recognizing the harmful effects that occupational licensing brings. Unfortunately, no similar developments have been made by the state of Minnesota. This, despite the fact that Minnesota`s breadth and burden of licensure have been increasing at a higher rate compared to the majority of states. We at the Center of the American Experiment have long argued for the reversion of this trend. And the coronavirus induced recession makes the need for reform even more urgent. If the state of...

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New study shows that increasing economic freedom leads to lower poverty rates

A newly published study, which quantifies the relationship between poverty and economic freedom, found evidence showing that increasing levels of freedom are associated with lower levels of poverty. This is not a new revelation. The positive relationship between economic freedom and economic growth is largely established by ample evidence. However, research also suggests that crises present opportunities for governments to expand their reach, socially and economically, and stay that way. The coronavirus pandemic has certainly presented that opportunity. Therefore, at a critical time like this, it is important to champion freedom in all its forms. As evidence continues to show,...

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New research provides more detail on how early Covid-19 stages affected small businesses

Throughout the duration of the coronavirus, it has been clear just how much small businesses have been hurt by the shutdown. And more than that businesses have also been hurt by the uncertainty surrounding the shutdown. For a lot of small businesses, it is generally hard to stay in businesses in periods of prolonged negative cashflows. And the coronavirus shutdown provided just that. It will probably be a long time until the full effects of the coronavirus on small businesses are understood. But just recently, an NBER paper has come out providing more detail into how small businesses were impacted by...

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Millionaires want the government to permanently raise taxes on them, but that would be bad for the economy

A group called of wealthy individuals called Patriotic millionaires has joined forces with other groups like Oxfam, Tax Justice, and many others, and is backing an ongoing project called “Millionaires for Humanity”. The project essentially boils down to a letter asking world governments to raise funds to pay for the costs of the coronavirus by permanently raising taxes on millionaires. Noble as this may sound, the economics of wealth taxation tells us why this would be bad for the economy....

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