This chart shows the relationship between the relative minimum wage (the minimum wage as a fraction of the average hourly wage) and unemployment rates for workers with different educational attainments.
These charts show that small business establishments and employees that benefit from Ex-Im Bank assistance constitute a minuscule portion of all small businesses and related employment in the nation. Supporters of the Ex-Im Bank have little reason to claim that it meaningfully benefits American small business firms and their employees.
The Export-Import Bank of the United States claims to boost US exports by providing artificially cheap financing to overseas buyers of certain US products. The Ex-Im Bank and its supporters rarely discuss which countries’ firms actually receive US export credit subsidies.
One of the most commonly cited justifications for the mortgage interest deduction (MID) is the claim that the deduction promotes homeownership among the middle class and supports industries that employ middle-class workers. But with 65.2 percent of all tax filers claiming to make less than $50,000, only 9.8 percent of these returns used the mortgage interest deduction.
This week’s charts show that if we were serious about improving the competitiveness of American producers, we should be looking at policies that help all producers rather than to the Export-Import Bank, which benefits mostly a few winners.
This week’s charts use data from the Annual Reports of the Export-Import Bank from FY 2009 to FY 2013, the International Trade Administration, and the US Census Bureau. The charts display the total value of US exports and total number of export-related jobs from 2009 to 2013, along with the proportions of exports and export-related jobs the Bank claims to have influenced in its official reports.
This week’s charts use data from the Export-Import Bank’s Annual Report 2013 and from a new Congressional Research Service (CRS) report on the Export-Import Bank. They show that while a small proportion of the Ex-Im Bank’s work is dedicated to counteracting foreign government export subsidies, the US government is actually one of the worst offenders when it comes to subsidizing domestic exports.
This week’s charts use data from this CBO report to display the discrepancies between the two accounting methods in each bodies’ reported costs. The charts show that these programs are in a far more dire fiscal position than their administrators have reported to the public.
The Export-Import Bank of the United States, the official export credit corporation of the federal government, is often criticized for favoring large, politically-connected corporations like Boeing and Caterpillar; for a lack of transparency and accuracy in their data reporting, job creation methodology, and risk calculations; and for unnecessarily tilting the scales of competition in the direction of favored industries.
The F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics at the Mercatus Center invites you to a panel discussion featuring Peter Leeson and his new book, Anarchy Unbound: Why Self-Governance Works Better Than You Think.
To reflect on the significance of Hayek’s Nobel Prize and the various strands of influence his work has had in subsequent decades of scholarship, please join us for a keynote speech and panel discussion by some of Hayek’s most prominent colleagues and interlocutors.
In Homer Economicus a cast of lively contributors takes a field trip to Springfield, where the Simpsons reveal that economics is everywhere. By exploring the hometown of television's first family, this book provides readers with the economic tools and insights to guide them at work, at home, and at the ballot box.