Power & Market

In a free society, legitimate economic success does not fall from the sky or come by force. Behind every fortune lies effort, risk, savings, time, discovery, validation, and social coordination.

Unfortunately, President Trump has severely damaged his credibility by embroiling us in a war that is not our war.

As US debt soars and foreign central banks stockpile gold, members of Congress introduce a bill to require a comprehensive audit of America’s gold reserves.

No one seems concerned about the constant devaluation of the dollar. They blame high prices on whoever is president or corporate greed.

Ted Cruz’s politics aren’t just conservative, they’re theological. Jonathan Newman explores how dispensationalism shapes US loyalty to the state of Israel.

With President Trump’s deployment of US troops to Los Angeles, this is a good time to review the deep antipathy that America’s Founding Fathers and our American ancestors had toward “standing armies.”

Mr. Milei fancies himself to be a great monetary theorist in the Austrian tradition. To illustrate his unrivalled brilliance here are two revealing exhibits.

The language of “de-dollarization” conceals an authoritarian ambition: to replace one fiat empire with another.

Thanks to the sort of inflationary policy Trump prefers, it will take years to rebuild the economy on a stable foundation of saving and investment, rather than on mountains of easy-money-fueled bubbles.

Year-over-year drops in passenger traffic is well correlated with changes in the employment level, and passenger traffic fell for two months in a row.