On the experiential value of money and why it decays with age. Read More
When government decides who pays and who is exempt, businesses rationally redirect resources from investment to lobbying and favor seeking. Read More
Presently the US seems to be going bankrupt gradually, and it would seem to be only a matter of time before it goes bankrupt suddenly. Read More
What Comes after the neoliberal order. Read More
Where wealth taxes have been tried, they have usually been abandoned—and for good reason. Read More
Why does the economy continue to grow? Read More
We had to look twice at this headline in the New York Times to believe it. Read More
Many people have weighed in on Paramount’s agreement to acquire Warner Bros. Discovery — media analysts, power brokers, political... Read More
There is rarely a day that passes without a news headline—such as recent reports of President Donald Trump walking back commitments to... Read More
The U.S. government just took ownership stakes in seven semiconductor start-ups, the latest example of the Trump administration’s... Read More
Peggy Noonan remains unwilling to acknowledge the truth about the political tragedy that was the coronavirus. Writing about Anthony Fauci... Read More
There is little debate over which Wall Street profit story is the biggest of the moment: artificial intelligence. For second-biggest,... Read More
Mayor Mamdani to the business community: “Drop Dead.” And the business community is falling to the floor and rolling over. Read More
Before President Trump’s second term, both political parties seemed to think the solution to making higher education more affordable... Read More
The President of the United States was clearly frustrated. Skyrocketing gasoline prices were unacceptable. He called them "unrealistic,"... Read More
Markets scramble as ‘forward guidance’ disappears Read More
It seems new Fed head Kevin Warsh stepped in it last week, with headlines globally bemoaning his lack of monetary policy “forward... Read More
Here's the story. Read More
Since 2020, more than two dozen efforts to strengthen the STOCK Act have gone nowhere, because the people who would bear the cost of reform... Read More
Housing inventory shortages, mortgage rates above 6% and rising insurance costs have combined to push the median first-time buyer's age to 40. Read More
Long-term government bond yields are on the rise yet again. Read More
The Fed is painting a bullseye around 3% inflation. Read More
It is irrefutable that most of us have a range of behavioural traits that are ill-suited to making sensible investment decisions. Read More
The populist case for economic liberalism Read More
When will negative consumer sentiment overflow to the real economy? Read More
AI will soon be better at math than any human. What does that mean? Read More
Everything the world’s briefly richest man built is failing at once. Read More
Markets remained mixed for a second month in July, based on a set of ETFs tracking the major asset classes. Read More
Gold and bitcoin have retreated from recent highs, but most major market indicators still sit above long-term averages. Read More
The 60/40 portfolio is broken because equity returns are driven by AI concentration rather than the business cycle, while bond returns are... Read More
The stocks of these high-quality companies look cheap today. Read More
Relax: Warren Buffett isn’t predicting a stock-market collapse. Read More
Analysis of actual Claude usage data shows workers in AI-exposed occupations are experiencing slower wage growth, while employment levels in... Read More

The recently enacted 21st Century ROAD to Housing Act echoes the belief that homeownership is an important part of the American Dream, an idea that goes back to the 1950s. One foundation of this belief is the perception that homeownership promotes wealth accumulation for individual homeowners. We need to re-think this perception in the modern era. Relative to renting, owning a home con... Read More
There is rarely a day that passes without a news headline—such as recent reports of President Donald Trump walking back commitments to assist Ukraine’s defense with Patriot missile systems to save the lives of innocent civilians—that prompts an instinctive reaction: this is evil. Yet for an applied microeconomist, invoking the word "evil" initially feels out of place. Historicall... Read More