Copernicus at 500

Copernicus at 500

Famed for his contributions to the hard sciences—most notably his theory of heliocentricity—the sixteenth-century astronomer Nicolaus Copernicus was also an acute analyst of monetary policy. To that end, Ralph Benko has done us all a great service with this new edition of Copernicus's classic, if neglected, treatise On the Minting of Money. Indeed, its lessons, though nearly five centuries old, remain evergreen. Writing in the foreword, Kurt Schuler, Senior Fellow in Financial History at the Center for Financial Stability, aptly summarizes some of Copernicus's most astute and timeless...

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Washington and Africa Are Intertwining Their Chaos

Washington and Africa Are Intertwining Their Chaos

The increasing arc of instability running across Africa today resembles less a series of isolated crises than a single, widening belt of state collapse, insurgency, proxy war, and foreign intervention stretching from the Atlantic coast to the Red Sea. From Mali and Niger to Nigeria, Sudan, Somalia, and the eastern Democratic Republic of Congo, the same themes recur with grim consistency: weak post-colonial states, ethnic and religious fragmentation, weapons flows across porous borders, foreign meddling, and Washington repeatedly insisting it can manage extraordinarily complex societies with...

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Trump’s Beijing Visit Shows the Limits of Diplomacy

Trump’s Beijing Visit Shows the Limits of Diplomacy

President Donald Trump’s recent two-day summit in Beijing with Chinese President Xi Jinping concluded much as anticipated. In an article written ahead of the trip, I noted that expectations for substantive breakthroughs in the fraught Sino-American relationship were likely to be disappointed. The events of the visit bore this out. While the tone was notably, and welcomely, warmer than in recent years and both sides touted “fantastic trade deals,” the core structural tensions—trade imbalances, technology restrictions, Taiwan, and regional security—remain largely unaddressed. What emerged was...

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Trump Visits Beijing In a World Washington No Longer Controls

Trump Visits Beijing In a World Washington No Longer Controls

When President Donald Trump arrived in Beijing yesterday for his summit with Xi Jinping, much of the American foreign policy establishment framed the meeting through the familiar lens of “great power competition.” Analysts will scrutinize every handshake, communiqué, and trade announcement for signs that Washington is either “standing up” to China or “conceding” ground to its principal rival. But the more important reality is that the summit will likely underscore just how much the balance of leverage has shifted over the past several years—and how little appetite Beijing has for rescuing...

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South Sudan, A Case Study in State Failure

South Sudan, A Case Study in State Failure

In 2011, the world welcomed its newest country. Fifteen years later, South Sudan is less a symbol of self-determination than a case study in state failure. Its politics remain dominated by factional strongmen, its economy is almost entirely dependent on oil, and the threat of renewed large-scale violence never quite recedes. For most Americans, it barely registers—just another distant tragedy filed away under “Africa.” But South Sudan did not simply emerge from the mists of post-colonial history. It was, in no small part, a project of Washington. That fact alone should invite scrutiny,...

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Whither Spirit

Whither Spirit

The grotesque spectacle practically writes itself. For years, the guardians of “consumer welfare” in Washington postured as vigilant sentinels against consolidation in the airline industry, so that when JetBlue sought to acquire Spirit Airlines, the Department of Justice intervened immediately and with all earnest. The argument, we were told, was simple: Spirit, the plucky ultra-low-cost carrier, provided downward pressure on fares. To allow its absorption into a larger competitor would be to deprive consumers, especially cost-conscious ones, of a vital check on airline pricing power. It was...

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No, Taxes Don’t Have a ‘Get Out of Jail Free’ Card

No, Taxes Don’t Have a ‘Get Out of Jail Free’ Card

Editor's Note: The following article is not intended as tax advice. For such advice consult a licensed professional. Further, while not a tax professional, the following was reviewed by a tax attorney. While taxation is coercive, economically distortive, and ultimately something to be abolished, it does not follow that one may simply opt out of the existing legal regime. As much as one might wish otherwise, there does exist—at present—a binding legal obligation to report and pay income taxes under U.S. law. This article then is a response to a recent post on Twitter by Peter Schiff, who...

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The Iran War Exposes the Emptiness of American ‘Strength’ in East Asia

The Iran War Exposes the Emptiness of American ‘Strength’ in East Asia

For decades Washington has advertised its air and naval supremacy as the indispensable guarantor of global order. Recent events have shown this to be little but increasingly expensive theater. The 2026 Iran War has paused not with Iranian capitulation but in a cascade of humiliations that have permanently altered the strategic landscape. Washington’s vaunted power-projection capabilities proved unable to shield even its own forward bases, depleted critical munitions stockpiles, and ultimately ceded effective control of the Strait of Hormuz to Tehran. These lessons will not be lost on Beijing...

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