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Progressives have long pushed for a state dominated by a new class of "scientific" experts who are supposedly nonpolitical and pursuing only "good government." It's a fantasy many people still believe. 

After the 75-bps rate hike last week, Powell took to the stage, saying in just his third

Conventional wisdom says a country should manage its debts, but what if debt has become uncontrollable?

After more than a decade of monetary stimulus fueling elevated asset valuations and incentivizing an enormous leveraged bet on risk, a soft landing is impossible.

After World War I, conservatism was transformed from an antiegalitarian, antistatist ideological force into a movement of culturally conservative statists: the right wing of the socialists and social democrats.

The Beltway is no place for loyalty.

Anyone who doubts whether we are in a recession can stop doubting. The Fed's reverse repos show that we're headed for a crash.

Inflation in Argentina is far worse than neighboring countries. It has only one cause: an extractive and confiscatory monetary policy—printing pesos without control and without demand.

Environmental economics is steeped in standard neoclassical theories of efficiency and Pigouvian welfare economics. That's a problem. 

Forget the notion that the Fed "fights inflation." In fact, the Fed exists to promote inflation.