Economics/Class Relations

The Cost of Politicians and Bureaucrats Doing Business as Usual

April 9, 2025
Welcome to The Lighthouse, the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.
Dear Readers,

Amid international market turbulence, this week, Craig Eyermann emphasizes the Congressional Budget Office’s warning about a fiscal crisis, as the interest on the national debt is poised to balloon.

Perhaps coincidentally, the public discourse about business itself is shifting, with some asking whether businesses should be more focused on social welfare. Kenneth Costello criticizes this trend of stakeholder capitalism and “corporate responsibility,” arguing it is missing the forest for the trees.

Allen Gindler analyzes why tariffs and trade deficits are such a misconception, using the humble café and hardware store to describe how open commerce comes more naturally than nationalists are willing to admit.

Scott Beyer describes how California’s suffocating regulatory regime compares to medieval guilds that restricted entry and innovation.

Read more about these topics in the latest issue of Independent Weekly!

Jonathan Hofer
Managing Editor

Top picks this week

The Cost of Politicians and Bureaucrats Doing Business as Usual

by Craig Eyermann

The CBO’s analysts summarize the U.S. government’s fiscal outlook: neither the national debt nor the government’s annual budget deficits are moving in a sustainable direction.
Read More

What Should Society Expect from Business?

A weird view of capitalism

by Kenneth W. Costello

What societal purpose do private companies serve, and what are their roles? These questions lead to the current focus on corporate social responsibility (CSR) and “stakeholder capitalism.”
Read More

Tariffs and Trade Deficits

Lessons from the hardware store and the café

by Allen Gindler

Next time you hear “tariffs will save us,” think of that hardware store and café. Trade deficits aren’t the boogeyman they’re made out to be—they’re just snapshots of people living their lives.
Read More

California’s Regulatory State Has Come To Resemble Medieval Guilds

The same oppressive regulations that caused people to escape Europe for America are now creating an exodus from blue states.

by Scott Beyer

States like California are repeating past mistakes by allowing regulatory overreach and empowering guilds. Residents may not have voted for deregulation, but they’re opting to move to areas without such powers.
Read More

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