The AI boom is consuming electricity, water, land, and capital at extraordinary rates. Governments should resist the temptation to stop it before its productivity dividend arrives. Artificial intelligence is reshaping markets and corporate earnings at a pace that has surprised even the most bullish investors.

My grandson is 21, pursuing a degree in college and active in sports and social life. His future looks bright. But he and others of his generation will enter that future with a handicap imposed on them by people they have never met: Policymakers at the Federal Reserve. They claim to be “firmly committed to fulfilling its statutory mandate from Congress of promoting maximum employment, stable prices, and moderate long-term interest rates.”

The Civil Rights Act of 1964 and the Voting Rights Act of 1965 are often seen by progressives as important legal weapons with which the Supreme Court can dismantle “systemic discrimination.” To that end, these statutes grant sweeping power to the federal government to wage what progressive liberals call a “war on racial discrimination.”

Free-riders have long been used as an argument for why a state is necessary when it comes to so-called public goods. But perhaps free-riders should rather be viewed as safety valves against state overreach.

The Treasury Department released its monthly statement on Friday and has now confirmed what we all suspected: the US federal government, under the Trump Administration, will finish the 2026 fiscal year with an annual fiscal deficit of about $2 trillion. 

More than 38 million Brazilian workers fall outside the reach of one of the most extensive labor codes in Latin America, and yet the National Congress is close to making that code even more rigid through a bill that would abolish the six-day work schedule known as “6x1.”

Friedrich Hayek was one of the greatest Austrian economists of the twentieth century, and Murray Rothbard thought very highly of his work, especially his development of the Austrian theory of the business cycle. In addition, as I can testify from my own experience as his student, he was a great philosopher of the social sciences. Unfortunately, he did not completely support the free market. He favored a number of welfare state measures, such as social security and the government provision of so-called “public goods.”