In 2021, The Economist ran an entire number hailing “The Return of Big Government” as the end of the so-called—but inexistent in practice—”austerity” paradigm and the evidence that more spending and a big state was the solution to the post-covid world, delivering economic growth, social spending, and sustainability.

In 2025, the same publication ran a number called “The Coming Debt Crisis“

“. . .socialism to me. . .means that you will have whatever you need to live a dignified life and that it is the government’s job to deliver on that. . . .” —Zohran Mamdani, October 1, 2026

One hears a lot these days from real estate agents and other observers of real estate markets who are complaining that mortgage rates are too high, and therefore no one is buying. But if we take a closer look, we find that the problem is no more high interest rates than it is high prices. Moreover, we’re likely to find in the near future that it’s a lot easier to simply get sellers to lower prices than it is so get mortgage rates to come down to their ultra-low levels of a few years ago.

Vice President J. D. Vance’s recent statements regarding economics show a profound lack of understanding. Perhaps Vance could expand his knowledge by completing a course on economics offered online by the Mises Institute. It is called “Economics for Beginners.” Since the Mises Institute offers the course for free, he will not be adding to the nation’s $40 trillion debt.