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The run on Silicon Valley Bank in March 2023 was a shock to both policymakers and business leaders, revealing previously unknown fragilities within the banking system. But the significance of Read more…

Traditional capitalism, in which firms raise capital from investors and use it to grow their businesses, while returning some share of the profits as dividends, works brilliantly to deliver economic Read more…

Healthy financial markets allocate capital to vital, long-term value creation; unhealthy ones foster unproductive speculation and market churn. Good financial regulation and tax policy can tell the difference. Unfortunately, in Read more…

The $5 trillion in assets controlled by state and local pension systems play a prominent role in U.S. financial markets, for instance as the largest source of capital for private Read more…

Much financial engineering aims to convert the real economy’s activity into derivative products with risk-versus-return profiles that will appeal to particular investors. This has some value, when the result is Read more…

Ban stock buybacks and repeal business interest deductibility

Channeling the pursuit of profit toward the nation’s liberty and prosperity A great benefit of the free market is the latitude it affords individuals to pursue their own self-interest however Read more…

The implacable trade deficits run by the United States since the late 1970s have been, and continue to be, costly to the American economy. For decades, the implicit and explicit Read more…

Does anyone think our current immigration policies are working? Over the past two years, the Biden administration has released two million illegal immigrants into the United States, a total that Read more…

Trade policy has failed American workers, their families, and their communities over much of the last 30 years. Until the changes made in the Trump administration, it led to the Read more…

The New Right should care deeply about preventing Chinese hegemony over Asia. The reason, though, is not necessarily obvious. After all, most conservatives are justly tired of the “forever war” Read more…

The United States operates a range of temporary visa or guest worker programs, justified by claims of labor shortages and the trope of “jobs Americans won’t do.” The H-2A and Read more…

Capitalism works when capital in pursuit of profit must find ways to expand output with the labor present, and when it must share the rising proceeds with that labor. Lax Read more…

As a member of the World Trade Organization (WTO), the United States is expected to extend permanent normal trade relations (PNTR) to all other WTO members, including those like China Read more…

The Republican Party has changed. It is now home to more working-class (non-college) voters than the Democrats. In 2022, Republicans carried the nationwide working-class House vote by 13 points. In Read more…

Republicans and conservatives rightly love liberty. That’s why so many have difficulty engaging with the new conservative economics and domestic policy propounded by American Compass and politicians including Senators Marco Read more…

We’ve spent the past decade living in a working-class town in southwestern Ohio, initially on a short-term research project and then settling in as citizens, neighbors, and friends—so that is Read more…

Defining success as achievement of the outcomes that people value most In recent decades, American politics has been driven by a devotion to “consumer welfare,” and policymakers narrowed their goal Read more…