Made to be Broken?

Which makes the world go round, entrepreneurs or institutions? Depending on whom you read, the emphasis differs. Some scholars (Ludwig von Mises, Joseph Schumpeter,

Interest Rates and Fed Tightening

Is the Federal Reserve significantly tightening monetary policy? The conventional wisdom says yes. After a series of hikes, the Fed’s short-run interest

Luxury Beliefs Death Spiral

It used to be that the wealthy elite distinguished themselves through so-called Veblen goods. Ostentatious displays like a big house or fancy

Robespierre and Us

Reprinted from Law & Liberty Maximilien Robespierre is far from yesterday’s news. In important respects, his paradoxes reveal the paradoxes that remain at