Washington responded to two crises with extraordinary monetary and fiscal interventions. Why did COVID-era stimulus produce ...

Congress rejected constitutional alternatives in favor of remaking a nation. Abroad, as at home, lawmakers cannot manufacture preferred social outcomes simp ...

Recently, two Federal Reserve governors delivered speeches with interesting differences. Michael Barr warned against weakening bank supervision, citing “growing pressures to scale back examiner ...

The Trump administration calls economic isolation a weapon against Iran and a recipe for prosperity at home. Protectionism is ...

One morning in Boston in 1895, as K. C. Gillette stood before the mirror, a brilliant idea flashed across his mind. “As I stood there with the razor in my hand, my eyes resting on it as lightly as a ...

Two previous pieces in this series argued that the Consumer Price Index (CPI) leaves out major costs that American consumers actually pay. First, the fiscal cost of government spending is obscured ...

Writing to oppose the Constitution’s ratification, an Anti-Federalist writing under the pseudonym Brutus warned against giving the national government the power to borrow money: The power to borrow ...

Why did the American Revolution succeed while the French Revolution failed? It’s an excellent question that comes up almost every time anyone lectures on either — or both — of these fateful events.

Just 50 years after America’s founding, the New Hampshire inventor, Samuel Morey, received the nation’s first patent for an internal combustion engine. The motor’s potency was soon realized when Morey ...

Led by Ozempic and Wegovy, glucagon-like peptides (GLP-1s) have become a global phenomenon, with one in eight US adults currently taking one. Those two branded compounds, both made by Novo Nordisk, ...

Public conversations about billionaires tend to oscillate between fascination and condemnation. Headlines emphasize excess, inequality, political influence, or corporate misconduct. And while ...