Consumer goods are also called finished goods. The products we buy at the supermarket and other retail stores have, in less finished form, passed through many stages (including distribution), reaching back to the original factors of production: land and labor. Land...
For more than three decades, the Federal Reserve has steadily expanded its role in the American economy. From a relatively narrow mandate as a lender of last resort to commercial banks, to inflation and employment targeting, it now operates as a systemic backstop for...
As the world experiences significant geopolitical changes, political blocs like the European Union have a unique opportunity to chart a new path. Since Russia’s invasion of Ukraine in February 2022, the European Union and its twenty-seven member states have delivered...
“There are two ways Iran can be handled,” U.S. President Donald Trump has said, “militarily, or you make a deal.” National Security Adviser Mike Waltz advocated for the military solution; Director of National Intelligence Tulsi Gabbard and Vice President JD Vance...
Temu, a Chinese-based online retailer that has been available in the United States since the fall of 2022. Quickly become a leading online retailer, Temu has grown so fast that Bernstein analyst Robin Zhu projects that the site will generate as much as $1.8 billion in...
In the detention of Mahmoud Khalil and the ensuing crackdown on pro-Palestinian activism by Donald Trump's administration, a recognizable model for governance is emerging. The model is from 2002. During that year, as American citizens were distracted by the aftermath...
"[Under Democracy], a man finds himself environed by a government that he cannot resist; a government that forces him to pay money, render service, and forego the exercise of many of his natural rights, under peril of weighty punishments. He sees, too, that other men...
How does Congress pass budget spending levels these days? It doesn’t. It’s really that simple. The federal government’s $6.95 trillion budget will spend more than $52,000 per household in America in 2025 and it is spending more than $38,000 of that without a single...
In the 1980s, peanut allergies were almost entirely unheard-of. Today, the United States has one of the highest peanut-allergy rates in the world. Disturbingly, this epidemic was precipitated by institutions that exist to promote public health. The story of their...
Even when a line on a map separates two individuals, trade is still trade—that is, mutually beneficial cooperation. Whether the line separates towns, cities, counties, states, or countries, it does not matter. The transactions are win-win. We could do quite well...
As the U.S. Congress continues to ignore the need for real fiscal discipline, kicking the can down the road again with yet another continuing resolution (CR), it is worth revisiting what two of the greats of the Austrian School had to say regarding the question of the...
Despite branding himself a political outsider, President Donald Trump’s foreign policy reflects a deep continuity with the bipartisan consensus that has defined U.S. interventionism since the Cold War. Trump made ending America’s involvement in “endless wars” a...
Zohran Mamdani is running for Mayor of New York City to “lower the cost of living for working class New Yorkers,” according to his campaign website. He has promised to freeze the cost of rent “stabilized” apartments, put the “worst landlords” out of business, create...
When President Donald Trump appointed Brendan Carr as chair of the Federal Communications Commission (FCC), he said Carr would be a “warrior for free speech.” Unfortunately, Chair Carr has been a warrior against social media companies and broadcast networks whose...
On Tax Day, politicians and mainstream media will hector Americans to be grateful for the opportunity to pay their taxes. The Internal Revenue Service website touts a moth-eaten quote from a dead Supreme Court Justice: “Taxes are what we pay for civilized society.”...
