History does not always conform to what the dominant scholarly theories of court historians may lead us to expect. In his essay “The Task of the Modern Historian,” Thomas Babington Macaulay observes that historians may formulate valid theories of what they would logically expect to have happened in a particular era, but unfortunately their theories soon displace any interest in the truth about what did in fact happen.
After four years of unnecessarily confrontational foreign policy under President Biden, Americans elected Donald Trump in part for his promise to put America first at home and overseas. He promised a war-weary America that he would start no new wars and would get us out of the existing ones. Eight months into his second Administration it appears his promise remains to be fulfilled, as his approval rating continues to slip.
The median sales price of new houses sold in July was $403,800, down 5.9% from a year earlier and the lowest price since November 2024.
Rate cut to “stimulate” jobs? Powell: “while the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers.”
Our corrupt economic system was created by people born decades before the Boomers were adults. The boomers just got lucky in a system that created vast wealth inequality.
The very definition of socialism: government ownership of the means of production. The US federal government now owns 10% of intel.
The ostensible purpose of the US war on drugs is to prevent Americans from getting their hands on illicit drugs and ingesting them. Think about that for a moment: The entire drug-war apparatus and the massive militarized drug-war police state exist for the purpose of preventing Americans from possessing and ingesting unapproved substances that they wish to possess and ingest.
I consider that amazing.
Let’s divide American drug consumers into two broad categories: those who are addicted to drugs and those who simply use them because it makes them feel good.
A recent addition to the Quarterly Journal of Austrian Economics:
A recent addition to the Journal of Libertarian Studies:
