In a much-discussed recent Marginal Revolution post, my George Mason University colleague, economist Tyler Cowen argues that the main factor that divides “classical liberals” and the the “New Right” is attitudes towards elites. In my view, by contrast, other factors are far more significant—most notably nationalism. Where Cowen uses the term “classical liberal,” I prefer […]
A tax credit encouraging American manufacturing contained in President Joe Biden’s Inflation Reduction Act (IRA) has raised the ire of European policy makers, who say the credit is protectionist and will hurt European exporters. European Union (E.U.) leaders expressed frustration with the electric vehicle (E.V.) component of the Buy American tax credits last month, with […]
The Buy American program created by the Inflation Reduction Act gives Americans tax credits for purchasing electric vehicles (EVs) manufactured in the United States, Canada, or Mexico. However, these tax credits will not only be paid for by taxpayer dollars, they also stand to ignite a trade war with the European Union. The majority of […]