Data Centers Are Doing Your Dirty Work for You
Their few defenders often misunderstand their benefits.
Economy
A Wealth Tax Built on Billionaires Who Aren't Really Billionaires
Many entrepreneurs with high net worths don't actually have much cash. What bank lends $100 million against illiquid stock in young companies that may or may not succeed?
New Jersey Revives the Fight To Reclassify Gig Workers as Employees
California notoriously fought to do the same, which led to a slew of exemptions and job declines.
Ohio's Republican Governor Says Haitians 'Played a Major Role' in Springfield's 'Economic Comeback'
Gov. Mike DeWine's recent essay in The New York Times makes the case for a more open legal immigration policy.
Are Socialists Actually Leaving Wokeness Behind?
Plus: the rise of affordability politics, Trump attempts to end birthright citizenship, and the Cambridge plagiarism controversy
The 'Affordability' Agenda That Taxes Your Dinner
Food-related taxes are rising in popularity, though they hurt restaurants and customers—and may even fail as a revenue-raising tool.
A Burrito Costs How Much?
Plus: The economy lost 23,000 jobs in July, inflation is outpacing wage growth, Trump is still mad about birthright citizenship, and more...
The Real Cost of Turning Away Foreign Talent
Researchers estimate that discouraging just one-third of international STEM graduates could leave the American economy 0.7 percent to 1.3 percent smaller—equivalent to losing the entire economy of Utah or South Carolina.
The Bond Market Is Unhappy With the Federal Reserve's Unwillingness To Fight Inflation
The 30-year U.S. Treasury bond just hit its highest yield level since 2007.
Why Capitalism Is the Most Moral Economic System
"Success comes from meeting the needs and wants of others," says businessman and publisher Steve Forbes.
Britain's New Prime Minister Andy Burnham Promises 'Stronger Public Control' of Stagnating Economy
Britain’s seventh prime minister in a decade inherits weak growth, record-high taxes, and a swelling welfare bill. His proposed cure is an even larger role for the state.
The Hidden Problem With Democrats' $25 Minimum Wage Bill
The legislation would eliminate the tip credit for restaurant workers and other tipped employees—which has not worked out well in the past.
A.I. Predictions Failing To Come True
Plus: Democrats taking a new tack, the popularity of social media bans, an influencer correspondent, and more...
British Prime Minister Keir Starmer Has Resigned. His Replacement Will Likely Be More of the Same.
The Labour leadership race may replace one unpopular big-government prime minister with another.
The War on Economic Growth Is a War on the Poor
No poor country has ever achieved decent living standards without first getting richer.
Even an AI-Sparked Economic Miracle Will Not Save the Federal Budget
Congress cannot sit by and hope for AI to fix the deficit.
The Economist Who Wants To Make the World Poorer
Thomas Piketty's plan is a comprehensive program for global managed decline dressed up in the language of climate justice and equality.
Why Are Republicans and Democrats Abandoning Economic Freedom?
"It's really important that people step back, look at economic history," says economist Donald Boudreaux. "They'll see that we prosper more the more economically free we are."
Do Democrats Still Have a Big-City Crime Problem?
Plus: What California's election results tell us, the economic costs of war with Iran, and the push to nationalize AI
250 Years Later, Benjamin Franklin's Warning Is Still Relevant
He famously said the Founders had created "a republic, if you can keep it." How have we kept it? And can we continue?
Trump's Approval Rating Is Cratering. Tariffs Are a Big Reason Why.
They cost each American household roughly $1,000 in 2025, with more coming in 2026.
Trump's Government-Funded Retirement Plan Misses the Point
The fiscal objection is serious. But the deeper problem is that the proposal misunderstands the saving behavior of the households it aims to help.
The War on Data Centers Is Here—and It Doesn't Add Up
So far, electricity prices haven't risen. If and when they do, the solution is more power generation.
America Is Losing Its Allure for the World's Migrants
The U.S. economy continues to outstrip the competition but takes a hit from declining immigration.
Trump's Illegal Tariffs Are Finally Being Refunded. Will You Get Any of the Money?
The burden of Trump's illegal tariffs was spread across the American economy. The refunds likely won't cover all those costs.
No, FDR Did Not Pull America Out of the Great Depression
"The New Deal made investment in America a risky project," says economist Donald J. Boudreaux, author of The Triumph of Economic Freedom.
Federal Reserve: Without Tariffs, Inflation Would Have Dropped to Pre-Pandemic Levels During 2025
New study finds that tariffs were responsible for the "entirety of the excess inflation in the core goods category."
Trump's New Budget—Which Proposes $1.5 Trillion for Defense—Is Unserious. You Should Still Take It Seriously.
It would be easy to wave it away and move on. But that's how the U.S. got in such a dire fiscal situation.
'They're Going To Go Elsewhere': Steve Forbes on Why Taxing the Rich Backfires
"For the first time since California came into the union," the publisher and businessman says, "they're having out-migration."
Trump's Mercurial, Constantly Changing Import Taxes Took American Businesses on a Wild Ride
There was little rhyme or reason to the president's "emergency" tariffs, which fluctuated wildly depending on his mood.
Politicians Want To Fix the Economy. So Why Do They Keep Making It Worse?
"Central planning doesn't work because everybody has different ideas for themselves," says Ryan McMaken of the Mises Institute.
Tax the Rich All You Want. It Won't Fix the Deficit.
The problem is not that the government collects too little. It's that the government spends too much.
The Trump Administration Just Declared All Foreign Exports Unfair
By the administration's logic, Iowa is hurting Arizona by producing so much corn. This is a very silly way to think about economic policy.
Louisiana Requires 500 Hours of Training To Braid Hair Professionally. This Bill Would Increase It.
Many states have deregulated hair braiding, but Louisiana lawmakers want to tighten regulations by demanding more coursework, including on the ancient origins of braiding.
March Madness
Plus: A seventh American has been killed in the Iran conflict, the U.S. is almost certainly responsible for school strike, how Lindsey Graham helped start the war, and more...
Jobs Are Down While the U.S. Spends $2 Billion a Day on War With Iran
The Bureau of Labor Statistics found that instead of adding jobs last month, the economy lost nearly 100,000.
The Tax Loophole That Made U.S. Health Care Unaffordable
The employer insurance exclusion has chained workers to their employers, practically eliminated consumer price sensitivity, and suppressed wages.
After Paying Illegal Tariffs, Will Small Businesses Get a Refund? 'I'm Not Holding My Breath.'
Even if the refunds are made, business owners say they won't cover all the additional costs created by Trump's chaotic trade policies.
It's the Spending, Stupid!
The truest measure of government in our lives is the federal budget, which is out of control.
Weekend With Bernie
Plus: U.S. Olympic hockey team wins the gold medal and Mexico kills cartel boss "El Mencho."
U.S. To Spend $24.4 Trillion More Than It Has Over the Next Decade, Report Warns
The cost of paying the interest is now the central story, and it's a grim one.
Trump Said Tariffs Would Reduce the Trade Deficit. Instead, It Hit a Record High in 2025.
It's a good thing that trade deficits aren't actually a national emergency.
The Cowardice of the Republican 'Tariff Skeptics'
Finally given a chance to influence trade policy, the vast majority of House Republicans decided it was more important to keep President Donald Trump happy.
Politicians Want To Avoid Reforming Social Security and Medicare. You Will Pay the Price.
Inflation is a silent tax—and the most painful way to finance government promises.
Wealth Taxes Are Proven Failures. Will California Take Note?
Across advanced economies, they have repeatedly been narrowed or even repealed after delivering disappointing revenue, tax avoidance, capital flight, and costly administrative battles.
Trump Claims His Tariffs Have 'Brought America Back.' Here Are 3 Things He Got Wrong.
The president's article in The Wall Street Journal is wildly misleading.
