Power & Market

Labor Day weekend used to draw a big crowd to Las Vegas. Now, not so much. The Vegas downturn is well documented.

Nixon’s 1971 decision didn’t just close a gold window—it opened the door to a fiat future of perpetual inflation, asset bubbles, moral hazard, and chronic economic dysfunction.

This does not bode well for new potential workers entering the labor force. Remarkably, things look especially bad for recent college graduates.

Unfortunately, the only country to have accepted a semi-free market in organs is Iran; however, the results there have been stunning.

Far from a system of exploitation, the free market peacefully harmonizes the preferences of everyone.

Last week President Trump took steps to re-name the Department of Defense the “Department of War”—arguably, a more appropriate name.

The Federal Deposit Insurance Corporation (FDIC) is widely seen as a pillar of financial stability, but it is actually it is a warning label that confirms systemic fragility.

The importance of hierarchies lies in the fact that not all individuals possess the same abilities or interests, and there exists a natural elite with a greater capacity to lead.

Trump’s recent actions recall earlier episodes of US industrial policy, such as wartime production controls and financial crisis interventions, when governments assumed temporary stakes or direct control over private enterprise.

Gerrymandering is a symptom of the failure of representative democracy. Political minorities are surrounded by others who overwhelm their votes and elect politicians who do not represent anyone but themselves.