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Bruce Yandle

Bruce Yandle

Bruce Yandle is a distinguished Mercatus Center adjunct professor of economics at George Mason University. He specializes in public choice, regulation, and free-market environmentalism. Yandle frequently briefs Capitol Hill policymakers on economic issues and lectures regularly in Mercatus programs for House and Senate staffers.

Articles by Bruce Yandle

A Quarterly Update from Dr. Bruce Yandle

February 13, 2019

Please join the Mercatus Center at George Mason University for a presentation by Dr. Bruce Yandle, Distinguished Adjunct Fellow at Mercatus and Dean Emeritus at Clemson University. Dr. Yandle will review his March 2019 report on March 21st from 11:45 a.m. – 1:00 p.m.
Space is limited. Registration will open in February 2019. 
For other recent commentary from Dr. Yandle, please visit his scholar page.
More Information
This event is free and open to the general public. This event has been planned in accordance with the widely-attended event exception to congressional gift rules and government ethics memoranda. Lunch will be provided.

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Oil's Golden Rule

January 9, 2019

For decades, oil has traded at a rate of about 15 barrels for one ounce of gold. Bruce Yandle says that we should continue to pay attention to this "golden rule."

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The Trade War's 'Rounding Error' Has Real-World Victims Getting Laid off

September 4, 2018

It’s easy to get lost in a flurry of economic statistics while debating trade policy. Trade deficits, foreign investment, prices, jobs, and GDP are all thrown into the mix. But what does it look like to be on the wrong side of a tariff? Bruce Yandle seeks to humanize the problem in the Washington Examiner. 
Read it here: The Trade War’s ‘Rounding Error’ Has Real-World Victims Getting Laid off

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The Elderly Aren't Actually Dragging Down the Economy

August 31, 2018

The American population is aging. Is that bad for the economy? Not necessary, writes Bruce Yandle at the Washington Times. The elderly actually present several economic advantages to a capitalist economy like the United States. 
Read it here: The Elderly Aren’t Actually Dragging Down the Economy

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The Beginning of the End for Fuel Efficiency Mandates

August 22, 2018

American policy has targeted a unique path to fuel economy: simultaneous cheap gas and small, fuel-efficient cars. As a matter of economics, these outcomes tend to contradict. When gas is cheap, consumers are more inclined to buy large cars. As other countries have discovered, buyers are most likely to choose fuel-efficient vehicles when gas is expensive. Given the Trump administration’s recent moves to loosen fuel efficiency mandates, it seems possible that American policymakers may move to a more rational combination of policy goals, writes Bruce Yandle.
Read it here: The Beginning of the End for Fuel Efficiency Mandates

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A Quarterly Update from Dr. Bruce Yandle

August 20, 2018

Please join the Mercatus Center at George Mason University for a presentation by Dr. Bruce Yandle, Distinguished Adjunct Fellow at Mercatus and Dean Emeritus at Clemson University. Dr. Yandle will review his September 2018 report (to be released on September 4th) and discuss:
Trade and tariffs: what do they mean and who will be impacted?
Monetary policy: where does the Federal Reserve go from here?
Immigration: what affect does it have on prosperity and happiness?
Space is limited. Please register below for this event.
For other recent commentary from Dr. Yandle, please visit his scholar page.
More Information
This event is free and open to the general public. This event has been planned in accordance with the widely-attended event exception to congressional gift rules and government

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Trump's Tariffs Might End the Housing Boom and Start a Recession

August 16, 2018

Housing construction fell in June as the prices of many building materials rose sharply. President Trump’s tariffs seem to be the likely culprits for the increased costs. These tariffs, along with rising interest rates, could spell trouble for the economy in the months ahead, writes Bruce Yandle.
Read it here: Trump’s Tariffs Might End the Housing Boom and Start a Recession

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More Teens Find Summer Jobs and Enjoy the Value of Work

July 27, 2018

The rate of teen employment has ticked upwards recently. What are the benefits of work in the 16-19 age range? What are the drawbacks? Bruce Yandle offers his perspective in the Washington Examiner.
Read it here: More teens find summer jobs and enjoy the value of work

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My Trade Deficit With Grocery Stores and the Local Laundry

July 23, 2018

Does it make sense for nations to demand a trade balance with each member of the international community? To hear some policymakers tell it, the answer is yes. Bruce Yandle takes on this assumption with an economic analogy from his own life.
Read it here: My trade deficit with grocery stores and the local laundry

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Where Trade Restrictions Will Hurt the Most

July 9, 2018

The last few months have made it evident that trade restrictions cause economic losses in a variety of areas and sectors of the economy. But where will the hammer strike hardest? Mercatus scholar Bruce Yandle goes through the data to find the answer to this question in the Washington Examiner. 
Read more: Where Trump’s trade wars will impact export-supported jobs
Photo credit: John G. Mabanglo/EPA-EFE/Shutterstock

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Nonprofit Heydays and Making the World a Better Place

July 5, 2018

Mercatus scholar Bruce Yandle reflects on his interactions with students who want to "make the world a better place." Many see this mission as synonymous with nonprofit work, but Yandle thinks that this view may be too narrow. 
Read here: Nonprofit heydays and making the world a better place
Photo credit: AP/REX/Shutterstock

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Why Pass $1.3 Trillion Budget Bills That No One Has Read?

April 5, 2018

President Trump recently waffled, fussed but finally signed into law a 2,200 page, $1.3 trillion omnibus budget law that will keep the government operating till September, provide substantial increases in military spending, support new cyber security initiatives, and build a section of “the wall ” that Trump considers essential to the nation’s security and prosperity.
While doing all that and a lot more, the new law is expected to raise the 2019 deficit to $1 trillion, making the deficit the largest pool of red ink since World War II. Once again, we hear strong talk about doing what is necessary and important while silently asking unborn future taxpayers to pay our bills.
As he complained mightily about the law’s size and omissions, the president pointed out that because of its length and

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The Economy Has a Speed Limit, No Matter What Politicians Say

April 5, 2018

The Department of Commerce’s Wednesday estimate for 2017’s fourth quarter GDP growth contains a small dose of optimism for 2018’s prospects. The growth estimate was lifted to 2.9 percent from an earlier estimate of 2.7 percent.
The positive nudge came primarily from higher levels of consumer spending and business investment. These healthier Commerce numbers support the Federal Reserve Board’s recent optimistic revision to GDP growth for 2018. At the March meeting, the board lifted the estimate to 2.7 percent from its September 2.0 percent.
Has the sleepwalking economy finally woken? Should we expect to see 3.0-percent growth over the next 12 months? The economy is surely moving at a quicker pace. Income tax cuts and regulatory reform together are making a difference.
Somewhat offsetting

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Will Trump Kill a World-Trade Santa Claus?

January 8, 2018

With considerable fanfare, President Trump on Monday unveiled his administration’s much-anticipated national security strategy giving expanded and more concrete meaning to his “America First” campaign slogan. Arguing that China and Russia are U.S. competitors for power on the world stage, the policy statement emphasizes the administration’s desire to balance the books when America engages in trade with any country.
The old notion that flows of trade and payments should balance — that an imbalance in trade with China, for example, may be offset by a new Volvo assembly plant built with Chinese dollars in South Carolina — is no longer relevant. Instead, reciprocity — if we buy this much from you, you should buy the same from us — has become the Trump administration’s golden rule.
While

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A Quarterly Update from Dr. Bruce Yandle

December 6, 2017

The Mercatus Center at George Mason University recently hosted a presentation by Dr. Bruce Yandle, Distinguished Adjunct Fellow at Mercatus and Dean Emeritus at Clemson University. During his presentation, Dr. Yandle reviewed his December 2017 report and discussed an analysis of the US economy in Quarter 3 and predictions for FY2018, the economic effects of rising US and global nationalism, and economic differences between states and regions, with a special analysis of North Carolina.
For other recent commentaries from Dr. Yandle, please visit his scholar page.

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Because of the Fed, the 'Goldilocks' Economy Will Have to Wait

December 5, 2017

On Wednesday, in perhaps her last congressional testimony as chair of the Federal Reserve, Janet Yellen came close to describing an economy hitting the Goldilocks point where everything is just right.
On the brighter side of the story, she noted this:
[E]conomic growth appears to have stepped up from its subdued pace early in the year. After having risen at an annual rate of just 1-1/4 percent in the first quarter, U.S. inflation-adjusted gross domestic product (GDP) is currently estimated to have increased at a 3 percent pace in both the second and third quarters despite the disruptions to economic activity in the third quarter caused by the recent hurricanes. Moreover, the economic expansion is increasingly broad-based across sectors as well as across much of the global economy.
Yet,

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