Power & Market

One of the great ironies of anti-capitalist resentment is that the envy and contempt results from a fundamental misunderstanding of the difference between liberty and statism.

Bankers will be bankers, and AI can only add to their hubris.

The white metal’s price chaos of the last week has many similarities with the 1980 Hunt Brothers’ squeeze.

History suggests that abuse of power is an inevitable feature of the modern welfare-warfare-regulatory state.

If the individual cannot keep what they earn, cannot build, cannot invest, cannot act without permission, then the income from tourism is nothing but a fleeting consumption and a steady stream of rent for the ruling class.

Ironically, normal market pressures would make housing more affordable, but easy money undermines that prospect.

Leaders prone toward collectivist ideals and central planning seize upon these opportunities, thriving on divisive sentiment.

When it comes to destroying your brand, Norwegian Nobel Committee is the Bud Lite of peace prizes.

By honoring Mokyr, Aghion, and Howitt, the Nobel Committee has recognized that the future of growth depends on innovation, and that innovation begins with an idea. Ideas drive progress, and progress defines civilization.

We should stop using terms such as “trade surplus” or “trade deficit.” Trade is always a surplus and the only deficit comes from government interventions.