Trump claimed he could single-handedly raise taxes (tariffs) under the International Emergency Economic Powers Act. The appeals court disagreed.

I know not whether any man in the world has had more influence on its inhabitants or affairs for the last thirty years than Thomas Paine. There can be no severer satyr on the age. For such a mongrel between pig and puppy, begotten by a wild boar on a bitch wolf, never before in any age of the world was suffered by the poltroonery of mankind, to run through such a career of mischief. Call it then the Age of Paine. — John Adams

In a free market, the profit-and-loss system plays an essential role. It signals how resources should be allocated, enabling entrepreneurs to pursue productive avenues and make long-term plans. By the same token, a system of profit and loss identifies those entrepreneurs able to synthesize market information, gather required inputs at a certain cost, and sell the output above that cost. Good entrepreneurs are rewarded with profits while the bad entrepreneurs experience losses and ultimately fail.

Every day in America a total of 13 people die waiting for an organ transplant, or 4,745 people per year. A further 103,223 people on waiting lists lead a grim existence on dialysis or other medical equipment. The explanation for this drastic shortage of organs is obvious.

As President Trump continues to impose his will on numerous government agencies, his critics become increasingly angry—and helpless. At their point in his presidency, we are seeing two opposite and irreconcilable narratives, with neither really being correct.

In even the most reasonably-informed accounts of classical liberalism, those that eschew the inclusion of the likes of Mill and Rousseau, the spotlight almost invariably falls on Britain and France—on the likes of Adam Smith, Richard Cobden, Frédéric Bastiat, and Benjamin Constant. Yet the German tradition of liberalism—so often overshadowed by the rise of Bismarckian statism, Marxism, and social democracy—played a critical role in shaping the transnational liberal movement of the 19th century.

New York City is abuzz and still reverberating after Queens Assemblymember Zohran Mamdani—a self-described Democratic socialist—toppled former Governor Andrew Cuomo to clinch the Democratic mayoral nomination based on a Democratic Socialist platform that se