Federal Court: Trump's Newest Tariffs Are Also Illegal
Trump's use of Section 122 ignored the plain language of the law and invoked a broad executive power where Congress clearly provided a narrow one.
Free Markets
What To Do About Saudi Arabia's Sports Takeover? Nothing, Apparently.
Plus: The NFL has no easy response to the Dianna Russini–Mike Vrabel affair, and how ketamine may have helped the Sixers upset the Celtics
The Happy Capitalism of Richard Scarry's Busytown
Welcome to the pro-market world of children's book author and illustrator Richard Scarry.
AI Companies Learn the Word No
Some of the people building AI have started acting like it might be dangerous.
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.
Democrats and Republicans Both Want To Regulate AI. They Just Can't Agree on How.
As lawmakers of both major parties hustle to regulate their preferred villains, they're losing sight of the big picture. The possible gains to humanity from AI are enormous.
Infographic: Who Really Pays for Tariffs? These Scholars Tracked a Bottle of Wine To Find Out.
Consider it a boozy, tariff-themed version of "I, Pencil."
The Data Center Water Panic Has a Better Answer: Water Markets
When water rights are secure and transferable, new demands can be met without harming existing users.
How Chile's Free Market Miracle Survived a Resurgent Left
Outgoing President Gabriel Boric predicted that Chile would go from being neoliberalism’s “cradle” to its “grave.” His movement got buried instead.
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.
Live Nation Settled Its Lawsuit With the Feds. Don't Expect Concert Tickets To Get Any Cheaper.
Fans are responsible for sky-high ticket resale prices, not primary ticket sellers.
250 Years Later, The Wealth of Nations Still Has Lessons To Offer the Political Class
Governments have yet to accept that free societies are also prosperous societies.
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.
Europe's Labor Rules Are Holding It Back
As the U.S. loosens regulations for workers, the E.U. takes the opposite approach.
This Taxation Is Looking a Lot Like Theft
The Trump administration is trying to avoid paying refunds after illegally collecting $175 billion from its emergency tariff scheme.
Trump's Tariffs Are Not Going To Eliminate the Income Tax
And that's especially true if the tariffs are illegal.
3 Bogus Economic Stats in Trump's State of the Union
President Donald Trump tossed out a bunch of economic statistics during his State of the Union address. Here are three that are just plain wrong.
Trump's New Tariffs Are Probably Illegal Too
Attorneys for the Trump administration even admitted that Section 122 can't be applied to address trade deficits. Trump is now trying to do that anyway.
Trump Orders New 10 Percent 'Global Tariff' After Supreme Court's Rebuke
The new tariff will be implemented under a 1974 law that gives the president authority to impose tariffs for up to 150 days.
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 World Has Turned and Left Me Here
Plus: Tariffs, tariffs, and even more news about tariffs! And George W. Bush has some interesting thoughts about George Washington.
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.
The FDA's Hands-Off Approach to Medical AI Is a Win for Health-Conscious Consumers
AI-powered medical wearables and software are flourishing following the FDA’s new regulatory guidance.
Fix the AI Electricity 'Crisis' by Unleashing Market Forces
The AI boom is showing the limits of our regulated monopoly model for generating electricity.
Yes, the Middle Class Is Shrinking—Because It's Moving Up
The real squeeze comes from government-distorted markets, not economic decline.
Florida Governor Candidate Proposes 50 Percent Tax on OnlyFans Creator Revenue
"I will not allow a generation of smart and capable young women to sell their bodies online," said Republican gubernatorial hopeful James Fishback.
Polymarket Returns to U.S. Users After a Nearly 3-Year Hiatus
The online betting company allows you to stake money on future events.
Zohran Mamdani Can't Ruin New York City
Mayors come and go, but New York City remains fundamentally itself.
'Affordability' Politics Is a Major Opening for the Free Market Message in the New Year
The socialists of both parties want things to cost less. Only free markets can make that so.
The Real Reason Golden Ages Collapse—and How the U.S. Can Avoid It
Past societies tried to regulate their way to stability. But it came at a great cost.
Zohran Mamdani Didn't Run on 'Affordability.' He Ran Against Prices.
Price controls don't solve economic problems; they disguise them. Prices are messages, and Mamdani wants to shoot the messenger.
The TRUMP AMERICA AI Act Is Every Bit As Bad As You Would Expect. Maybe Worse.
Sen. Marsha Blackburn’s latest is an anti-tech omnibus, combining years' worth of dangerous policy ideas into one big, bad bill.
The Haters Are Wrong. Netflix's Glut of Christmas Movies Is Good, Actually.
The existence of options you don't personally enjoy is not a cultural failure; it's a luxury.
Shein Can't Sell Sex Toys Unless It Checks IDs, French Court Says
Laws requiring porn platforms to age-check visitors are becoming "a Swiss army knife for the government."
More Republican Socialism
The Trump administration has not made a convincing case for why it is buying stakes in these companies—and why these companies in particular, rather than others.
Trump Said His Tariffs Would Reduce the Trade Deficit and Bring Back Manufacturing. Here's What the Data Show.
These metrics are bad proxies for prosperity, but they reveal just how flawed the president's arguments have been.
Poland's Beer and Food Tell the Story of the Country's Extraordinary Rise From Communism
Not even 35 years after escaping Soviet-style central planning, Poland has become a capitalist success story.
Americans Need More and Better 'Third Places.' User Fees Can Help.
As traditional gathering places disappear, market-based funding could expand parks, courts, and other spaces that help people reconnect without raising taxes.
Trump Says China Didn't Buy Soybeans While Biden Was President. Here's What the Data Show.
American farmers exported more than 26 million metric tons of soybeans to China annually during Biden's term. Trump's deal with China would cover less than half that amount.
The 2025 Libertarian Gift Guide: 28 Great Ideas for Apocalypse Preppers, Boozers, Self-Improvers—and More
Panicked about holiday shopping? Reason staffers and contributors are here to save the day.
The Free Market Can Connect Rural America Faster Than the Government
Private innovation is connecting rural America faster than Washington’s $42 billion broadband program.
Why I Support Reason with a Tax-Deductible Donation (and You Should Too!)
The magazine of free minds and free markets has changed millions of minds—including mine—to take freedom seriously.
Trump's $1.1 Billion Tax Hike on Toys and Games
"Maybe the dolls will cost a couple bucks more than they would normally," the president warned in April. That's an understatement.
How Special Interests Twisted Federal Sugar Policy To Cost Consumers $2.5 Billion Every Year
Meet Dwayne O. Andreas: The man most singularly responsible for the fact that it is corn, not sugar, in most American sweets.
Is The Washington Post Becoming Libertarian?
The Washington Post opinion editor Adam O’Neal outlines his vision for a more classically liberal editorial voice, examines how both parties turned against free speech and free markets, and explains why the paper is ending political endorsements.
