Should We Abolish the Federal Reserve?
Economists Lawrence H. White and Frederic Mishkin debate whether the Federal Reserve should be replaced with free market institutions.
Economics
If Republicans Want To Cut Spending, They Should Start With the Pentagon
Sen. Rand Paul says Republicans "have to give up the sacred cow" of military spending in order to make a deal that will address the debt ceiling and balance the budget.
The Biden Administration Flirts With Imposing Nationwide Rent Control Via Executive Action
The White House's idea of using Freddie Mac and Fannie Mae to adopt rent control faces numerous legal and practical hurdles.
End the Fed? A Soho Forum Debate
Economists Lawrence H. White and Frederic Mishkin debate whether the Federal Reserve should be replaced with free market institutions.
Ticketmaster's Taylor Swift Glitch Doesn't Require a Congressional Hearing
The site crashed because Swift is very popular, not because antitrust enforcement is too weak.
Social Security Is on the Brink of Collapse. The GOP Won't Touch It.
In 1950, there were more than 16 workers for every beneficiary. In 2035, that ratio will be only 2.3 workers per retiree.
DOJ Antitrust Suit Seeks To End Google Ad Dominance. The Market Is Already Taking Care of That.
Plus: Journalism versus qualified immunity, Mississippi bill would end civil asset forfeiture, and more...
No, the World Is Not Heading Toward 'Mass Extinction'
Despite an apocalyptic media narrative, the modern era has brought much longer lives and the greatest decline in poverty ever.
Government Watchdog Finds $60 Billion in Pandemic Unemployment Fraud, Suggests Maybe Doing Something About It
Despite multiple warnings in the past, the Department of Labor has yet to implement a comprehensive strategy for detecting unemployment insurance fraud.
What the U.S. Should Learn From China's Population Decline
The U.S. remains the top destination for the world's immigrants—but it must be careful not to squander its immigration advantage.
ChatGPT Isn't Coming for Your Job (Yet)
Content-generating A.I. will probably enhance human labor rather than make it obsolete.
Supreme Court Declines Case Challenging Excessive IRS Penalties
Should an elderly grandmother be forced to hand over millions of dollars to the government for failing to file a particular form?
Robert Reich Is Wrong: 'Corporate Greed' Isn't To Blame for Egg Prices
The former labor secretary ignores the avian flu epidemic that devastated the supply of egg-laying hens.
Tariffs Targeting Carbon Emissions Would Be a Costly Blow to Free Trade
Joe Biden could take advantage of the expanded executive authority over trade that Donald Trump helped create.
Pennsylvania's New Governor Dumps Excessive College Diploma Demands for State Jobs
More leaders should follow in the footsteps of Govs. Josh Shapiro, Larry Hogan, and Spencer Cox.
Survey: Americans Want K-12 Schools To Prioritize Practical Skills, Not College Prep
New survey results show that "Americans believe the K-12 education system should redirect its focus on what it means to successfully prepare American students—equipping them with practical skills that prepare them for life."
Republicans Want More Control Over America's Oil Reserve. They Should Scrap It Instead.
The Strategic Petroleum Reserve is supposed to insulate the U.S. from oil embargoes and foreign wars. More often, it has been used like an insurance policy for private companies.
Arizona-Led Effort Spies on Americans' Financial Transactions
Thousands of local, state, and federal law-enforcers have access to sensitive financial data.
The Courts Are Rejecting Biden's Antitrust Crusade
The Biden administration's antitrust efforts are being shut down by judges, except for a single successful case where best-selling authors were involved.
The GOP's Current Plan To Cut Spending Is a Political Failure
Social Security, Medicare, and Medicaid are still the chief drivers of our future debt. But Republicans aren't touching them.
The Political Lies That Really Matter
From George Santos to Joe Biden, résumé padding is unacceptable. But it's all the lies about legislation we can't afford.
Ohio To Honor Occupational Licenses from Other States
While not a cure-all, universal recognition reduces the costs and time commitments of mandated training.
No, Recycling Will Not Save the Environment
Despite what you may have heard, many "recyclables" sent to recycling plants are never recycled at all.
They Fell Behind on Their Property Taxes. So the Government Sold Their Homes—and Kept the Profits.
The Supreme Court has agreed to hear 94-year-old Geraldine Tyler's case challenging home equity theft.
The International Idiocy of the 15-Minute City
Planners and politicians from Saudi Arabia to Scotland want to transform interconnected cities into isolated "urban villages" no one ever needs to leave.
Youngkin Nixes Ford Electric Vehicle Plant Over Anti-China Paranoia
The factory may have been a bad deal for Virginia, but tying the decision to Chinese aggression is the wrong move.
How the Fed Redistributed Wealth and Encouraged Reckless Corporate Behavior
The Lords of Easy Money argues that the Fed created an economy with nearly irresistible incentives for foolish choices.
Cutting Government Back to Last Year's Size Shouldn't Be 'Impossible' or 'Severe'
Taking stock of the utterly unserious fiscal policy discourse in Washington.
Great Moments in Unintended Consequences: Barbara Streisand, Sesame Seeds, Golden Goal (Vol. 10)
Good intentions, bad results
To Win the Speakership, Kevin McCarthy Had To Promise To Cut Spending. Good.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
The FTC Wants To Outlaw Noncompete Clauses, but Does It Have the Authority?
The Commission's lone dissenter says Congress has not charged it with regulating noncompete clauses.
The Best Inflation News This Week Actually Came Out of Congress
Inflation fell to 6.5 percent in December, but new House rules ensure that Congress will have to consider the inflationary impact of future spending bills.
Aviation Groups Have Complained for Years About the Outdated FAA Alert System That Crashed Today
Critics say the NOTAM system creates safety hazards by overloading pilots with hard to read and superfluous information while failing to alert them to real hazards.
Lockdowns Had Little Impact on COVID-19
Data show Florida and New York had similar death numbers despite vastly different approaches.
China Is Scaling Back Its Failed Semiconductor Industrial Policies. America Should Do the Same.
The warning signs are flashing "don't be like China."
Help the Working Class by Deregulating Housing Construction
Economist Bryan Caplan explains how cutting back on zoning and other restrictions could create millions of new jobs for workers - on top of other beneficial effects.
Is There a Future for the City of Tomorrow?
The consequences of our obsession with urban dystopias and utopias
A Michigan Supreme Court Justice Hired an Ex-Con. Another Justice Shamed Him Into Resigning.
Justice Richard Bernstein said Pete Martel's hiring as clerk was unacceptable because "I'm intensely pro-law enforcement."
Fixing Congress' Broken Appropriations Process Is Worth This Mess
This week's Republican revolt against Kevin McCarthy is actually a rank-and-file revolt against the top-down process that both parties have used to control the House in recent years.
New York Times Blames 'Deregulation' for Regulated Electric Costs
Deregulated states may spend more on transmission, but that part of the market is still heavily regulated.
Ignoring the Anti-McCarthy Faction's Avowed Goals, The New York Times Sees Only 'Chaos and Confusion'
The paper attributes the fight over the election of the next House speaker to "anti-establishment fervor" and a lust for "personal power."
Trump's Tax Returns Show What Sort of Tax Reform We Need
But partisans are having the wrong debate.
2022 Proved That Governments Can't Improve on Good Economic Principles
We’d all be better off if politicians spared us their experiments in subsidies, wages, and trade.
Why Are Some Republicans Revolting Against Kevin McCarthy's Bid To Be Speaker of the House?
The insurgent Republicans want to balance the budget, impose new barriers to immigration, and increase transparency for future earmark spending.
Good Luck Qualifying for New Tax Credits on Electric Cars
The Inflation Reduction Act extended tax credits for buying electric vehicles, but the requirements will put them out of reach for most customers.
New Oregon Wastewater Rules Threaten Portland's Food Cart Culture
Compliance could prove impossibly expensive for independent food sellers.
How Venture Capital Made the Future
Sebastian Mallaby's The Power Law explores how venture capital and public policy helped shape modern technology.