This week's IGM European Economic Experts Panel Statements:
A) Trade with China makes most Europeans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Europeans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
C) If the EU followed the new US steel tariffs by imposing similar EU tariffs on steel from China, it would improve Europeans’ welfare.
Keyword: social welfare
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This week's IGM Economic Experts Panel Statement:
Imposing new US tariffs on steel and aluminum will improve Americans’ welfare.
This week's IGM Economic Experts Panel statement:
Because of the many special and unique roles that the dollar plays in global commerce, US citizens are substantially better off than they otherwise would be.
This week’s IGM Economic Experts Panel statements:
A) Holding labor market institutions and job training fixed, rising use of robots and artificial intelligence is likely to increase substantially the number of workers in advanced countries who are unemployed for long periods.
B) Rising use of robots and artificial intelligence in advanced countries is likely to create benefits large enough that they could be used to compensate those workers who are substantially negatively affected for their lost wages.
This week's IGM European Economic Experts Panel statements:
A) Holding labor market institutions and job training fixed, rising use of robots and artificial intelligence is likely to increase substantially the number of workers in advanced countries who are unemployed for long periods.
B) Rising use of robots and artificial intelligence in advanced countries is likely to create benefits large enough that they could be used to compensate those workers who are substantially negatively affected for their lost wages.
This week’s IGM Economic Experts Panel statement:
Providing state and local subsidies to build stadiums for professional sports teams is likely to cost the relevant taxpayers more than any local economic benefits that are generated.
This week's IGM European Economics Experts Panel statements:
A) Freer movement of goods and services across borders within Europe has made the average western European citizen better off since the 1980s.
B) Freer movement of goods and services across borders within Europe has made many low-skilled western European citizens worse off since the 1980s.
This week's IGM Economic Experts Panel statement:
An annual December spending surge on parties, gift-giving and personal travel delivers net social benefits.
This week’s IGM Economic Experts Panel statement:
The 9% cumulative increase in real US median household income since 1980 substantially understates how much better off people in the median American household are now economically, compared with 35 years ago.
This week’s IGM Economic Experts Panel statement:
A) Declining to be vaccinated against contagious diseases such as measles imposes costs on other people, which is a negative externality.
B) Considering the costs of restricting free choice, and the share of people in the US who choose not to vaccinate their children for measles, the social benefit of mandating measles vaccines for all Americans (except those with compelling medical reasons) would exceed the social cost.
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