Power & Market

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.

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.

Control and money. That’s what drives the war on drugs.

Even if all the practical challenges could be overcome, social economic calculation and planning are still impossible from a computation-theoretic point of view.

Though progressive reformers were met with mixed success, the theoretical shift away from natural rights left a lasting legacy in the American political landscape.

Reports of “dollar death” are greatly exaggerated and fail to answer a simple question: What is the alternative?

Let’s hope Trump succeeds in destroying the reputation of the Fed, but let’s also hope Trump doesn’t succeed in stacking the Fed with his own people.

No country needs the approval of others to adopt free trade. No harm and much benefit can accrue to the citizens of either country.