“Should we just have done nothing?!” The former question is a common incensed objection whenever someone dares to question the wisdom, appropriateness, or success of the War on Terror.

Also, only 48% of Americans “believe the upcoming midterm elections will be free and democratic.” The myths of democracy seem to be in decline.  

“The U.S. national debt reached 100% of gross domestic product for the fiscal year that ended Sept. 30, hitting the triple-digit mark for the first time since 1946.”

Intensifying conflict in the Middle East has sharply heightened concerns over winter energy supplies.

“The Committee decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve’s dual mandate.” 

Socialist Americans are promising affordable housing through rent controls and government intervention. The evidence shows that these policies deliver the opposite.

A long-standing claim in the entrepreneurship literature is that entrepreneurship cannot be reduced to optimization. The entrepreneur does not simply solve a well-specified problem by feeding known variables into a decision rule, but rather acts in circumstances in which the relevant probabilities may be unknown, the opportunity set itself may be uncertain, and the connection between present actions and future outcomes cannot be established in advance.