The Housing Crisis
Soaring housing costs are driving young people towards socialism—only dispersed development and expanded property ownership can preserve liberal democracy.
Amid the growing cost of living crisis, Marxist firebrand Zohran Mamdani has been elected to the position of Mayor of New York. Mamdani’s popularity, which is based largely on unease about prices, most notably rents, augurs a possible American turn towards radical collectivism.
Mamdani’s brand of leftist politics is not socialism as practised, for example, in Sweden, which never nationalised its main industries, embraced home ownership and whose welfare state was financed by a dynamic export-oriented economy. The founder of the Democratic Socialists of America (DSA), the late Michael Harrington, would barely recognise his offspring. He warned against Leninist control of the “commanding heights” of the economy, detested communism and its Third World offshoots, and supported Israel’s right to exist. The current DSA and its supporters, as writer Pamela Paul points out, believe that “capitalism isn’t something to be regulated or balanced, but is itself the problem.”
Economic Dynamism
The Causal Effect of News on Inflation Expectations
This paper studies the response of household inflation expectations to television news coverage of inflation.
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The Rise of Inflation Targeting
This paper discusses the interactions between politics and economic ideas leading to the adoption of inflation targeting in the United States.
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America Needs a Transcontinental Railroad
A proposed merger of Union Pacific and Norfolk Southern would foster efficiencies, but opponents say the deal would kill competition.
America’s great migration
The young and ambitious are fleeing the stagnant coastal states for the booming heartland.
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The Poverty of Vanceonomics
At the core of Vanceonomics is a preferential option for government intervention.
Entrepreneurial Freedom in the Age of AI
The AI economy can lead to a more inclusive economy that permits people the freedom to choose when they work, what they work on, and who they work for.
