With U.S. debt at record levels, enthusiasm is mounting for a debt jubilee, in which part of or all the mountain of debt would be written off, to the great relief of debtors and the despair and probable bankruptcy of creditors. The jubilee’s proponents point out that debt jubilees have Biblical sanction, being a standard […]

The last five years have been marked in most Western societies by a populist revolt against the values of a leftist university-educated elite. That elite had appeared invulnerable, and increasingly separated from the rest of us, as Charles Murray described in his 2012 study “Coming Apart.” There are thus two questions to be answered: how […]

When William Pitt the younger made his great and optimistic Budget speech of 1792, he attributed Britain’s increased prosperity not to technological improvement but to the wealth-enhancing effect of the compounding increase in the country’s capital stock. Only a generation later, in the administration of Robert, Earl of Liverpool, was technological change given credit for […]

Three years into his administration, President Donald Trump is subject to a level of obloquy surprising given the U.S. economy’s benign performance. Not only his political opponents, but even some nominal “conservatives” want to impeach him. The reason is clear: rigid thinkers committed to the “icons” of past consensus policy loathe President Trump with unparalleled […]