The Contested Meaning of the Constitution
While many people have declared the US Constitution to be “crystal clear” on issues of governance, the truth is that much of
If Only FTX Could Use the Fed’s Accounting
What happens to businesses when liabilities exceed assets? They go bankrupt, with the spectacular failure of FTX being front-and-center. However, the Federal
Who Owns the Gold?
With people calling for an audit of the US gold stores at Fort Knox, perhaps we should remember how that gold got
Federal Spending in 2025 Is on Track to be the Highest Ever
For the first five months of the 2025 fiscal year, federal spending is coming in at the highest level ever. This is
Warren Buffett Gets It Wrong
Warren Buffett is well-known for his investment acumen, and he often makes public statements in favor of capitalism. But his loyalty to
First They Came for the Op-Ed Writers
The Trump administration continues its assault on the First Amendment and the rights of dissenters. The latest casualty is a Turkish graduate
Do Inflationary Expectations Cause General Increases in Prices?
Economists like to claim that expectations of more inflation lead to, well, more inflation. Such beliefs ignore the fact that inflation is
Britain—Like France and Spain—Is Poorer than Mississippi
Is Britain poorer than Mississippi? Taking into account welfare benefits and taxes, the answer appears to be yes, and it's yes for