Energy economist Lynne Kiesling tells a nice story in her recent article exploring the use of AI agents to work through the challenges of Hayek’s knowledge problem in the electricity market.

On Friday, the Bureau of Labor Statistics released its consumer price index (CPI) report for March, and price growth surged to highest levels reported in nearly two years. Measured year over year, the CPI was up in March by 3.3 percent, the highest since May of 2025. Measured month to month, the CPI rose by 0.85 percent from February to March, the highest growth rate since June of 2022, 53 months ago.

Tax Freedom Day, calculated by the Tax Foundation, “represents how long Americans as a whole have to work in order to pay the nation’s tax burden.” It appears that they stopped publishing this in 2019, but others have picked up where they left off.

The idea is that the income earned by taxpayers over a certain proportion of the year goes to Uncle Sam. In 2025, that date was April 16th.

US Senator Rand Paul of Kentucky has introduced a federal spending restraint bill, called the “Six Penny Plan” that may actually work. The basic concept is simple. Each year for the next five years Congress would reduce the federal budget by six percent from the previous year’s budget. In five years the annual budget would be in balance, and the total federal debt will be on a path to being paid off.

Today is tax day. It’s a day where Americans everywhere are forced to reflect on all the income we’ve been forced to hand over to the government. Unpleasant as that is by itself, it’s also worth going a step further and using the occasion to reflect on what the government is using our money for.

“...new polling data indicating a 21-point swing in the wrong direction within months, placing him at the bottom of modern vice-presidential rankings”

Do high-performing firms win because they choose better strategies, or because they have better processes for making strategy in the first place?

If strategy is ultimately about managerial judgment under uncertainty, what role should structure and formal processes really play?

These questions were prompted by my reading of a new paper in Management Science by Mu-Jeung Yang, Michael Christensen, Nicholas Bloom, Raffaella Sadun and Jan Rivkin.

Listen to the global leaders of cryptocurrency, and one common theme emerges: read Mises.