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What 122 Universal Basic Income Experiments Actually Show Authroed by Vance Ginn via the Daily Economy, Artificial intelligence has become the latest excuse for reviving one of the oldest bad ideas in economic policy: a universal basic income. Recent pieces in Newsweek, the LSE Business Review, and Fortune have all helped push the idea that AI may soon wipe out so many jobs that Washington will need to send everyone a check. Image Credit: Shutterstock That makes for a catchy headline. It also makes for terrible economics. The right question is not whether AI...

After Record $19.50 Premium, Saudis Eye Sharp Cut To June Asia Prices Submitted by Charles Kennedy of OilPrice.com The world’s top crude exporter, Saudi Arabia, is expected to slash its official selling prices (OSPs) for crude loading for Asia in June from the record-highs for May as the premiums of the Middle Eastern benchmarks eased this month. Saudi oil giant Aramco is widely expected to announce in early May a reduction of the OSP of the flagship Arab Light crude by between $5 and $12 per barrel compared to the Oman/Dubai average,...

Federal Court Strikes Down 158-Year-Old Home Distilling Ban Authored by Kimberly Hayek via The Epoch Times (emphasis ours), A federal appeals court on April 10 declared a nearly 158-year-old ban on home distilling to be unconstitutional, ruling that the ban was an unnecessary and improper means for Congress to exercise its power to tax. A judge's gavel rests on top of a desk in a courtroom in Miami on Feb. 3, 2009. Joe Raedle/Getty Images Writing for a three-judge panel in McNutt v. U.S. Department of Justice, Judge Edith Hollan Jones of the...