Americans Increasingly Priced Out of Buying Homes, Thanks to the Federal Reserve’s Manipulation of Mortgage and Housing Markets

The unaffordability of houses for many American households is a key problem in both politics and economics.  How did American house prices get so high?  A central culprit is the Federal Reserve’s vast manipulation of the mortgage and housing markets.

Modern Monarchy Is State Privilege, Not Private Property

King Harald V’s death and the accession of King Haakon VIII have reopened the monarchy question in Norway. The usual debate asks whether a king is democratic, whether the royal family behaves well, or whether the institution costs too much. A libertarian analysis should begin somewhere more basic: why should the state compel ordinary people to finance hereditary privilege at all?