The U.S. national debt recently passed $40 trillion, hitting this monstrous milestone months ahead of Congressional Budget Office... Read More
There’s only one billionaire in Vermont. No wonder the government there is so small. To which more than a few might reasonably reply... Read More
Workers are earning a smaller and smaller share of the economy’s income. Their cut — referred to by economists as “the... Read More
America's important fracking victory offers a blueprint for AI data center builders facing 70% public opposition and major Chinese... Read More
On the last day of August, Washington officials released two reports related to the quest for American energy dominance. The first is a White... Read More
The bipartisan embrace of nuclear power in the United States, driven primarily by the spike in demand for reliable and clean energy, has been... Read More
In mid-August President Trump reposted a column by Steve Cortes celebrating a “quiet manufacturing boom.”I’ve owned and... Read More
The heavy-handed effort to destroy thousands of small businesses is an ignorant and clumsy assault on a vital industry. Read More
The H-1B visa program is an increasingly sore subject for young Americans, who feel like they’re being displaced in an already tight job... Read More
Location, location, location is the most famous and widely repeated mantra in the real estate industry, but it could also apply to estate... Read More
The question is what we want AI to optimize. Read More
A good payrolls number was bad news for stocks this past week, though the market finished the week right back where it started. Investors had... Read More
You finally did it. You opened the brokerage account. You bought your first shares. Maybe you picked a few companies you actually know. Maybe... Read More
Shopify (SHOP) investors have been on a rollercoaster ride. Read More
Cognitive Distortion: Believing an Unverified Future as Present Reality Excessive market volatility does not begin with asset prices; it... Read More
America’s word is as good as gold — that is, unreliable Read More
Tyler Cowen links to research that confirms his pre-existing benign view of datacenters. Read More
The marginal buyer sets the price. Read More
What the Live Nation case says about the fate of monopolies now Read More
Canada said it had been attacked. The U.S. said it had been ripped off for years. Read More
It used to be that if yields on U.S. government bonds were rising, you could pretty much assume that stocks would be on the upswing, too. Not... Read More
AI data center buildouts will require an estimated $4t in debt financing over the next five years. Here is how that credit demand compares as... Read More
Employment fell in cities where ICE enforcement surged in 2025, with no signs of recovery so far, Marcela Escobari and co-authors find. Read More
The evidence for a hot economy keeps racking up. Read More
Texas firms are increasingly integrating generative artificial intelligence (GenAI) into their business processes. Two-thirds of firms... Read More
A look at the fall of dollar assets in global official foreign exchange reserves and how it reflects the actions of a handful of large... Read More
As the United States under President Donald Trump endeavors to coerce international trading partners through the employment of economic... Read More
ISM was less positive and construction was recessionary for the second month in a row. Read More

As Washington weighs how to regulate artificial intelligence, it is worth revisiting a classic question in political economy: why did the Spanish Empire — the world’s largest and richest state in 1600 — decline into oblivion by 1900, while plucky England ascended to liberal democracy, industrialization, and world superpower status in the same time frame? According to the economis... Read More
For more than a century, Perrier sold something much more valuable than sparkling water. It sold provenance. The distinctive green bottle represented natural mineral water from a particular place in France, with a particular mineral composition and history. Consumers did not need to study the label to understand what they were buying. The name Perrier itself conveyed the product. That kind of... Read More