Ricochet.com Editor-in-Chief Jon Gabriel is in for Jim.  Today, Jon and Greg welcome polls showing just a 4-6 point lead for the Democrat in the New Jersey governor’s race. They also have plenty to say as emails show the National School Board Association and the Biden administration were in contact well before the NSBA publicly asked for the administration’s help in declaring parents domestic terrorists and the Justice Department turned the FBI loose on those same parents. And they have fun with the argument from some on the left that trees need legal rights.

 

Ricochet.com Editor-in-Chief Jon Gabriel is in for Jim today.  Join Greg and Jon as they welcome Sen. Sinema’s demands of no tax hikes on corporations, individuals, or capital gains. They also hammer Pres. Biden for pushing for the guaranteed boondoggle of high-speed rail, but Biden also admits the real goal is to get your car off the road. And they cringe as Democrats in Virginia take another swing at loosening absentee ballot rules.

 

This week on JobMakers, host Denzil Mohammed talks with John Dearie, founder and president of the Center for American Entrepreneurship, a Washington, D.C.-based research, policy and advocacy organization. Immigration is core to his mission to build a policy environment that promotes entrepreneurship because he knows all too well that the United States was and continues to be built by entrepreneurial immigrants who had the drive and determination to pick up, leave everything they know behind, and build a new life in a new homeland. So to John, it is no surprise they are twice as likely to take another risk: start a business. He’s also seen across the country frustration among business owners, both U.S.-born and foreign-born, at an immigration system that works against this country’s interest. Why? Because it doesn’t seek to actively attract or retain talent from the rest of the world. John sees the decline in U.S. entrepreneurship and believes that more immigration, not less, would power the nation’s economy and innovation, which have made us the global leader. Instead, he’s seeing an unnecessarily partisan and toxic approach to immigration that, he says, harms us all and is inherently unamerican, as you’ll discover in this week’s JobMakers.

Guest:

Join Jim and Greg as they enjoy watching Terry McAuliffe make mistake after mistake in the homestretch of the Virginia governor’s race. They also welcome a Wall Street Journal report on the simple reality that only fossil fuels can meet our energy needs in terms of abundance and cost but fume that Democrats insist on pursuing policies that are not realistic and are sending prices much higher. And they they wince as reports suggest Democrats appear to be closing in on a consensus for a $2 trillion spending binge on far left priorities.

 

Democrats and the Politics of Scarcity

 

One chilly night, the president lowered the White House thermostat, put on a cardigan, and gave the American people a stern talking-to. We enjoyed too much abundance for too long and it was time to pay for our profligacy.

“The oil and natural gas that we rely on for 75 percent of our energy are simply running out,” Jimmy Carter said in 1977. “We could use up all the proven reserves of oil in the entire world by the end of the next decade.” The only way to prevent catastrophe was “strict conservation” and a willingness to “make sacrifices.”

Join Jim and Greg for a very special podcast!  First, they see reason to be optimistic about 2022 as three powerful House Democrats decide not to seek re-election. They also have plenty to say as Dems start telling Americans that the supply chain crisis just means we’ll have to stop whining and lower our expectations.  They marvel at Jen Psaki’s response to reports the Chinese may have fired off a nuclear-capable hypersonic missile. Finally, they raise a glass to 11 years of the 3 Martini Lunch!

This week on Hubwonk (our debut video & audio edition), Host Joe Selvaggi talks with research analyst Andrew Mikula about the findings from his recent report, A Timely Tax Cut, in which he explored the relationship between state tax rates and policy and the direction of interstate migration.

Guest

Join Jim and Greg as they welcome the egregiously overdue end of the travel ban to the U.S. for vaccinated people from the UK and the European Union. They also shudder after finding out Loudoun County, Virginia, schools have failed to reported abuse incidents for years and that Democrats in the Virginia legislature made it easier to cover up these problems just last year. And they react to the news that Transportation Sec. Pete Buttigieg has been on leave for the past two months while the supply chain crisis grew worse.

 

Join Jim and Greg as they welcome a new CNN poll showing more and more Americans want nothing to do with the Democrats’ big spending plans on terrible programs. They also unload on President Biden for begging for help on energy prices from oil and gas companies after his policies to kill fossil fuels predictably sent prices soaring. And they discuss the appalling bias of Katie Couric, who admits in her new book that she heavily edited a quote from Ruth Bader Ginsburg to “protect” her after Ginsburg scolded the NFL players for kneeling during the national anthem.

This week on JobMakers, Host Denzil Mohammed talks with Dr. Bernat Olle, co-founder and CEO of Vedanta Biosciences, about his journey from Catalonia, Spain, to Cambridge, Massachusetts, where he continued his Chemical Engineering studies at MIT. Navigating the complex immigration system while seeking purpose in his career, he eventually found his calling and was lucky enough to remain in the U.S. to see it through: designing a new class of medicines to modulate the human microbiome. They duscuss how everyone wins when foreign-born talent is welcomed into vibrant, entrepreneurial ecosystems like those in the U.S., when they’re able to collaborate with others from the U.S. and around the world and come up with incredible ideas to benefit all people. Bernat also expresses a sense of kinship with immigrants far removed from the labs and boardrooms. He knows that the same aspiration – opportunity – attracted those who came here with nothing but a suitcase and a dream, as you’ll discover in this week’s JobMakers.

Guest:
Dr. Bernat Olle is a co-founder and Chief Executive Officer of Vedanta Biosciences. He has been a member of the founding teams of several companies of the PureTech portfolio and served as a member of the Board of Directors of Vedanta Biosciences and Follica Biosciences. In 2013 Dr. Olle was named “Innovator of the Year” in MIT Technology Review Spain’s “Innovators under 35” awards. He also received the 2019 Barry M. Portnoy Immigrant Entrepreneur Award from The Immigrant Learning Center. He completed his doctoral work at the Chemical Engineering Department at MIT, where he developed a novel method for large-scale bacterial culture. During his graduate work, Dr. Olle was awarded the “la Caixa” fellowship. Dr. Olle received his B.S. in Chemical Engineering from Universitat Rovira i Virgili, in Catalonia, his M.S. and PhD. in Chemical Engineering Practice from MIT, and his M.B.A. from the MIT Sloan School of Management. He has published his work in journals including Nature and Nature Biotechnology.

Join Jim and Greg as they cheer William Shatner for going to space and the private sector space industry for their amazing innovation. They also have plenty to say as House Speaker Nancy Pelosi suggests the media needs to do more to sell the reconciliation bill to the public. And they’re a bit puzzled as GOP California Rep. Michelle Steel reacts to the Pacific Ocean oil leak and the gridlock at our ports by proposing a ban on ships idling off the southern California coast.

 

You Will Get Nothing for Christmas and Be Happy

 

The Biden Administration really seems to be taking the War on Christmas as a policy imperative. First, Dr. Fauci told us not to get excited about gathering with the family over the holidays because we probably won’t be allowed to. Now, word from the administration is don’t count on being able to buy or exchange a lot of Christmas gifts either. “‘There will be things that people can’t get,'” a senior White House official told Reuters, when asked about holiday shopping.”

We know the globalist left has fully embraced the World Economic Forum of a future economy where “You Will Own Nothing and Be Happy.” (Despite denying it). And danged if the Government’s heavy-handed, unscientific Covid response hasn’t accelerated that goal.  The $3.5 Trillion economic sledgehammer that is the “Build Back Better” plan will ensure that we will have nothing left after taxes and higher energy costs to buy any stuff with anyway. 

Labor Markets Don’t Need The Antitrust Cudgel

 

Modern progressive thinkers are united in their newfound determination to ramp up antitrust enforcement to respond to their perception of greater monopoly risks. Lina Khan, the new head of the Federal Trade Commission, spearheaded the agency’s decision on a straight party-line (3–2) vote to withdraw the revised Vertical Merger Guidelines the FTC and the Department of Justice had issued in June 2020. The reason: to combat the twin problems of rising prices and shrinking wages, without saying exactly how these means and ends are connected. That wage motif was even more prominent in acting head of the Antitrust Division Richard Powers’s assertion that any violation of the antitrust law is “just as irredeemable as agreements to fix product prices and allocate markets, conduct that the division has prosecuted for over one hundred years.”

Powell’s remarks did not arise in a void, but were inspired by a large body of recent scholarship that claims that powerful quantitative techniques induce large wage reductions through excessive concentration in labor markets. As in other areas, the antitrust violations could be of two sorts. First, competitors may explicitly seek to lower wages or divide markets, using, as in the tech industry, so-called “no-poach” agreements, as between different tech firms. Here, the issues of proof are relatively easy, because the needed evidence is all on the paper record, so that all that remains is to apply sound, well-established antitrust principles.

Often these “naked” restraints justify some combination of financial penalties looking backward and injunctive relief looking forward, just as in the market for products and services. But often a “rule of reason” analysis is appropriate to let firms explain why their behavior is efficient. For example, there is a constant risk that workers know the trade secrets or customer lists of their current employers, which they could easily carry to their competitors if allowed to freely shift jobs. The competitors can then improve their relative position by the cost advantage they obtain by using, without charge, valuable information generated by their competitors.

Hubwonk Host Joe Selvaggi talks with economist and MIT Professor Chris Palmer about his research and analysis of the effects of rent control in Cambridge during its 25-year implementation and in the aftermath of its repeal.

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Join Greg and Rob Long as they try to figure out exactly what’s causing hundreds of Southwest Airlines flights to be cancelled for the third day in a row. The airline is clearly lying but is this resistance to the vaccine mandate or something else? And if it is about the mandates, what happens next? They also shudder as the Biden administration joins most other countries in supporting a global minimum tax for corporations. And they cry foul as some Virginia Democrats look to loosen absentee voter requirements now that the Virginia governor’s race might not be going their way. They also touch on Columbus Day and the latest insane law in California.

 

Join Jim and Greg as they welcome Sen. Manchin’s furious response to Senate Majority Leader Chuck Schumer’s partisan response to extending the debt ceiling. They also wince as the job numbers for September come in way below expectations and the unemployment rate drops for the wrong reason. And they fire back as Dr. Leanna Wen suggests the U.S. adopt vaccine mandates for planes and trains and forcing people to get the shot if they want to see their family members. Plus, they assess Pres. Biden’s shaky vaccination math.

 

Member Post

 

As I shopped at Costco, Sprouts, Safeway, and other stores this week, I’ve been noting what’s not on the shelves. We appear to be at the beginning of something not seen since 1929. I read an article from April on the Industry Week website, and this paragraph caught my eye: What Americans may not realize […]

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Join Jim and Greg as they are glad to see a poll definitively showing Americans are paying close attention to some of our nation’s biggest problems and concluding the Biden administration is handling them poorly.  They also fume as more evidence piles up, this time from Japan, that President Biden has no desire to assign responsibility for the outbreak of COVID-19 and made sure our intelligence review remained inconclusive.  And they discuss John Kerry saying that President Biden had no idea the French were furious about the recent nuclear submarine deal with the UK and Australia and White Press Secretary Jen Psaki claim Kerry didn’t mean that.

Member Post

 

Recently, and also not so recently, as well as a long time ago, someone somewhere was accusing someone else of economic illiteracy. Has such an accusation ever wounded anyone? I don’t think so, nor do I think it should have, because it makes no sense. “Illiteracy” ought to mean an inability to read anything. In […]

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This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Get your first month free.