The 250th anniversary of the Declaration of Independence and America’s formal secession from Great Britain will be a fruitful year for studying American history. Scholars will look back on America’s successes and failures and what they mean for the 21st century. After all, we must remember what caused the American economy to thrive and bring prosperity to millions. In this spirit, this article discusses how the United States’ other founding fathers—the Jacksonian Democrats—laid the free-market infrastructure vital for the Industrial Revolution.

In my article, “Sovereign Credit, Affordability, and the Crisis Ratchet,” I explored how sovereign credit expands during crises and rarely contracts once the immediate emergency passes. Governments accumulate debt under the justification of necessity, while borrowing costs remain manageable even as debt levels rise. The result is a one-way ratchet. Yet the persistence of that ratchet cannot be explained by politics alone.

“There’s no sign that real diplomacy is underway despite Trump’s claims.”

People in high office and their friends are at the receiving end of anger and frustration due to their misbehaviors of late. The release of the Epstein files have only fueled this. The internet is ablaze with anger against the “elites.” Is this an opportunity, as some claim, to advance ideas of individual liberty?

“The conference had hundreds of empty seats as the audience seemed in a sleepy mood, as the crowd cheered for impeachment hearings in an awkward moment.”