Editor's Pick
Benjamin Giltner Last week, the Department of Defense released President Trump’s requested defense budget for fiscal year 2027. It’s a staggering $1.5 trillion and...
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Politics
Murray Rothbard famously asked Cui bono? to help unearth government scandals. Kenya’s politicians certainly benefitted from the Eurobond affair.
Politics
Ludwig von Mises had many insights about immigration. As one might expect, he foresaw problems with open borders, but also believed immigration could benefit...
Politics
Record-low consumer confidence and record-strong corporate earnings aren’t a paradox: they’re the Cantillon effect in real time. Mark Thornton explains who inflation rewards, who...
Editor's Pick
Walter Olson President Donald Trump’s attempt to engineer a $1.8 billion taxpayer-funded slush fund for those in legal trouble for promoting his interests, as...
Editor's Pick
David J. Bier The Department of Homeland Security (DHS) announced Friday that it will cease granting green card applications except in extraordinary circumstances. In...
Editor's Pick
Thomas A. Berry and Alexander Xenos The government must be neutral when it sets rules for what private citizens may say, but the government...
Politics
Social contract theory was used to critique a form of the state, but was also used to legitimize the modern nation-state.
Editor's Pick
Jai Kedia and Norbert J. Michel Kevin Warsh was sworn in as the new Federal Reserve chair today. He has described his goal as...
Politics
Zohran Mamdani’s proposal reflects a growing belief that economic problems can be solved through public ownership and political management. But a grocery store is...
Editor's Pick
Nicholas Anthony Following my testimony before the House Committee on Financial Services, I want to share what I said during my opening remarks. For my...
Politics
RMP is not QE, nor is it QT. It is an unprecedented, interventionist, unsound policy. The Fed is no longer backstopping the long end,...
Editor's Pick
Thomas A. Berry There are currently two vacancies in the cabinet and two deputy secretaries acting as secretaries: Todd Blanche as acting attorney general...
Editor's Pick
Tad DeHaven Last week, I argued that a federal rescue of Spirit Airlines would be a disturbing escalation from government mistake to government ownership—a...
Politics
We are reminded time and again that prices emerge from subjective valuation, not objective criteria.
Editor's Pick
Norbert J. Michel Last week’s confrimation hearing for Kevin Warsh, the nominee to be the next chair of the Federal Reserve, drew tons of...