Just what America needs: More taxpayer-funded green energy projects. The Department of Energy (DOE) and the U.S. Internal Revenue Service released plans to re-allocate more than $150 million in remaining manufacturing tax credits for “green” energy projects originally authorized by the 2009 American Recovery and Reinvestment Act (the stimulus bill), …
A new report published in the Federal Reserve Bank of St. Louis Review provides strong evidence that the Administration’s obsessive focus on boosting exports as a way to help U.S. manufacturers is just plain wrong. The study debunks the idea that changes in either imports or exports affect growth in …
Japanese gross domestic product (GDP) fell for the third straight quarter (October–December) and was essentially flat for 2012 as a whole. This continues two decades of stagnation in annual output—Japan’s annual GDP in 2012 is essentially the same as 20 years ago. Stagnation is part of what motivated new Prime …
As wages in China rise with economic growth, some companies are beginning to look elsewhere for what was once China’s selling point: cheap labor. It just highlights the power that free trade provides—growing economies and raising living standards. Consider that wages in China are five times greater than they were …
Humans have been using tires since the dawn of the automotive age. But today’s tires aren’t much like their predecessors. Instead of being made with natural rubber, for example, they’re fashioned from layers of materials, including textiles and steel. This is a perfect example of what economist Joseph Schumpeter meant …
This is the week that Michigan’s workers will finally be freed from forced unionization. After decades of United Auto Workers control over the struggling American auto industry, the Michigan legislature’s passing of a right-to-work law is historic. Governor Rick Snyder (R) is expected to sign the law as early as …
All signs now point toward Michigan becoming America’s 24th right-to-work state by year’s end. This is good news for Michigan’s union members and unemployed. Michigan has suffered more than most states in the recession. The state still has an unemployment rate one-and-a-half percentage points above the national average. The state …
House investigators are probing allegations that a Commerce Department agency has retaliated against numerous whistleblowers who spoke out against financial mismanagement by agency officials, Scribe has learned. The allegations involve the National Institute of Standards and Technology’s Manufacturing Extension Partnership (NIST MEP) program. In a September letter to Commerce’s inspector …
Another green-energy-related company built on government subsidies is having trouble keeping its head above water. This time, the scandal surrounds Compact Power, a subsidiary of LG Chem.* In 2010, the Obama Administration proudly gave Compact Power a $150 million grant to build a vehicle battery manufacturing facility in Michigan. These …
