Good intentions and personnel changes at the Federal Reserve can’t rewrite the deeper structural reality of inflation and economic instability. Kevin Warsh’s ascension to Chair will be another case in point: a case study in cautious optimism meeting institutional...

In 399 B.C., Socrates chose to drink hemlock and suffer a painful death rather than submit to the state and live a life devoid of critical examination. He would be horrified to see how close we have come to constructing his nightmare: a society willing to jettison...

Envision the following scenario: it is the 2008 U.S. presidential election between Senator John McCain (R-AR) and Senator Barack Obama (D-IL). As the results begin pouring in, a senator from another country writes to The New York Times and warns that if the...