America’s great migration
The young and ambitious are fleeing the stagnant coastal states for the booming heartland.
‘For many states that were once great have now become small; and those that were great in my time were small formerly. Knowing therefore that human prosperity never continues in one stay.’ So wrote Herodotus in his Histories, in the fifth century BC. He reminds us that world history is not a morality tale between the ‘powerful’ and their victims. Rather, societies evolve, grow stronger and overcome weaker ones. People – and, more recently, capital – migrate to places that offer greater opportunities.
Economic Dynamism
The Wine and Commerce Symposium
The Western tradition’s great thinkers have long recognized wine as a symbol for the beguilement of reason. But if wine warps reason, they recognized how it can also enable reliable reason in our analysis of regimes.
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Social Mobility Wins
When people live within an environment offering good jobs, good education, social networks, and a culture of self-improvement and hard work, they experience progress in a way that undercuts the philosophical rationale that socialists need to justify the policies they advocate.
Kevin Warsh and the Future of Fed Communication
Warsh is right that the Federal Reserve should not speak so loudly that it hears only its own echo.
