Edward Conard

Top Ten New York Times Bestselling Author

  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “Unintended Consequences is full of substance, it is one of the must-read books of the year, and once I finish it I will be giving it a second read through right away.” - Tyler Cowen, Professor, George Mason University
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
Upside of Inequality Oxford Unintended Consequences

AI Summary. Dockworkers at dozens of East Coast and Gulf Coast ports, represented by the International Longshoremen's Association's 45,000 members, launched a strike at cargo terminals handling more than half of US import and export volumes. Port employers raised their wage offer to a 50% increase over six years, up from 40%.

Paul Berger Wall Street Journal
Date Posted:

The East and Gulf Coast dockworkers union went on strike Tuesday morning, seeking a 77% pay raise over six years and an end to automation in American ports.

Are dockworkers striking at ports handling most US trade volumes?

Core argument: Members of the International Longshoremen's Association, which represents 45,000 dockworkers, walked off the job at midnight at dozens of East Coast and Gulf Coast ports handling more than half of U.S. import and export volumes, as their contract with port employers expired.

Dockworkers walked off their jobs at dozens of ports from Maine to Texas at midnight, launching a strike that threatens to rattle the American economy five weeks ahead of the presidential election. Members of the International Longshoremen’s Association, which represents 45,000 dockworkers at East Coast and Gulf Coast ports, began picketing early Tuesday at cargo terminals that handle more than half of American import and export volumes as the contract with port employers expired. Port employers, pressed by Biden administration officials to resolve the impasse, raised their offer on wages to a 50% increase over six years, from an earlier 40% increase, along with other improvements in benefits in the 24 hours before the strike deadline.

Takeaways by Macro Roundup® AI

  1. Members of the International Longshoremen's Association, which represents 45,000 dockworkers, walked off the job at midnight at dozens of East Coast and Gulf Coast ports handling more than half of U.S. import and export volumes, as their contract with port employers expired.
  2. Port employers raised their wage offer to a 50% increase over six years, up from an earlier 40% increase, along with other benefit improvements, in the 24 hours before the strike deadline.
  3. The strike threatens to rattle the American economy five weeks ahead of the presidential election, with Biden administration officials pressing port employers to resolve the impasse.

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  • Union Voters Could Be Decisive in 2024 — A declining union share of the electorate and weaker Democratic performance among union households have made Michigan, Pennsylvania, and Wisconsin more competitive, with white voters without college degrees making up majorities of the electorate in all three states. Unionized white non-college voters were less likely to back Trump than their non-union counterparts.
  • Labor Market Conflict and the Decline of the Rust Belt — The authors argue that persistent labor market conflict in the Rust Belt's main industries lowered investment and productivity growth, shifting employment to the rest of the country, and estimate it accounts for roughly half the decline in the region's share of US manufacturing employment. Rising foreign competition plays a more modest quantitative role.
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