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The Reality of American Manufacturing and Pandemic Resilience Contrary to conventional wisdom, there is little evidence of systemic weaknesses in the United States’ “industrial capabilities” (i.e., the ability to produce the goods that the country needs in times of war or other national emergency)—the metric that, along with access to similar capabilities abroad, the Department of Defense considers critical for national security. In fact, the U.S. manufacturing sector remains among the most productive in the world and is a global leader (see Table 1). The sector’s health is perhaps...

Bernie Sanders closes in on $15 minimum wage Tyler Van Dyke © Provided by Washington Examiner Sen. Bernie Sanders has never been closer to achieving a $15 an hour federal minimum wage, with the Senate possibly voting on a budget reconciliation bill in the coming weeks. Sanders continued his push on Wednesday, calling the current $7.25 an hour "starvation wages." "The overwhelming majority of the American people understand that we must end starvation wages in America," Sanders tweeted. "That means raising the minimum wage from $7.25 an hour to $15 an hour by 2025. Period." T...

The author of a new study on the impact of a $15 federal minimum wage on childcare costs said that the move will increase costs.

Dear Capitolisters, In the pantheon of right‐​leaning economists, there’s a front row seat for Stanford’s Thomas Sowell. For those of you who don’t know Dr. Sowell, who turned a spry 90 last year and is still going strong, I recommend this recent tribute to some of his most important work, as well as this brand new documentary on his life. For me, two specific Sowell quotes stand out when thinking about public policy and the intersection of politics and economics: When evaluating a policy proposal, always “think beyond stage one” and ask “and then what will happen?�...

Sanders Backs GOP Call for No Minimum Wage Hike During Pandemic Sen. Bernie Sanders (I-Vt.) backed a Republican amendment blocking the raising of the federal minimum wage to $15 an hour during the pandemic in Thursday’s late-night Senate “vote-a-rama” session, which involved consideration of multiple amendments to President Joe Biden’s $1.9 trillion pandemic relief bill. Following the nearly 15-hour long marathon session, the Senate approved a budget resolution early Friday morning, a preliminary step to budget reconciliation—the process that will allow Senate Democrats to pass the ...