Power & Market

The only beneficiaries of the increase in tariffs are the government and a few companies that benefit from limited competition while everyone else is worse off.

Liberation Day morphed into an Obliteration Day of everyone’s retirement account in a matter of minutes as Trump’s tariffs were announced.

President Trump issued separate presidential proclamations to increase tariffs to 25 percent on all US steel imports and raise tariffs from 10 to 25 percent on all aluminum imports. What are some of the unintended consequences?

Milton Friedman, who achieved most of his fame in the 1980s with the television series Free to Choose, first proposed vouchers for educati

As GSEs before 2008, certain companies enjoy a hugely valuable but free government guarantee. They were never private companies, but an unhealthy mix of socialized government risk and private profit.

We spend very little time and effort learning about what the hundreds of government agencies are doing. Agencies like the Fed exist to exercise monopoly power and enrich a few at the expense of the many.

The greatest innovations don’t emerge from a checklist; they arise from an obsession with understanding something that others overlook.

What should economists do, and are we doing it? Economists should focus on markets, not resource allocation.

For the first five months of the 2025 fiscal year, federal spending is coming in at the highest level ever. This is true even when we adjust for CPI inflation.

I recently joined Lena Petrova on the World Affairs in Context podcast to talk about the alleged gold at Fort Knox, how the federal government stol