Reading this article in the comfort of civilization, from a sophisticated tech device, not having to worry about whether you’ll be able to afford dinner later today, or whether you’ll sleep in safety, it might seem natural to assume that this level of comfort is the natural state of Homo sapiens. Nothing could be further...
On April 2, President Donald Trump made a sweeping declaration that could reshape the global economic landscape for years. Deemed “Liberation Day,” his announcement of reciprocal tariffs on nearly every major trading partner marked the most dramatic shift in American trade policy levels not seen in a century since the infamous Smoot-Hawley Tariff Act of...
Bolivia’s fuel pumps are running on empty, an almost unthinkable crisis for a country once known for its vast natural gas reserves. Long lines of trucks and cars stretch through city avenues, with drivers waiting hours or even days for gas or diesel. Bolivia’s state-run energy model has produced a fuel shortage. How did a...
The Trump administration’s tariffs and the damage they could cause to people’s livelihoods globally are a rude reminder that free markets matter. But we live in a time when the mainstream voices of the media, academia, and politics are hopelessly preoccupied with their disdain for “capitalism.” Despite the unprecedented progress and technological advancement free markets...
Northwood University recently announced the appointment of Dr. Gabriel Benzecry, a rising star in the field of Austrian economics and history of economic thought, as the new David E. Fry Professor of Free Market Economics, effective Fall 2025. Dr. Benzecry currently serves as an Assistant Professor and Bretzlaff Scholar at Northwood University. Like Dr. Fry,...
Psychotherapist Orion Taraban, host of the enormously popular PyschHacks YouTube channel, has a new book out. In The Value of Others: Understanding the Economic Model of Relationships to Get (and Keep) More of What You Want in the Sexual Marketplace, he attempts to explain dating and romantic relationships through the lens of economics. It’s an...
Carl Schurz (1829–1906) was one of many Prussian exiles who arrived in the United States following the failed revolutions of 1848. After reforms failed to materialize in Europe, Schurz became one of the German “48ers” who came to America to escape political persecution for his role in the unsuccessful uprisings. Schurz went on to contribute...
Imagine two businesses across the street from each other: a hardware store and a café. Once a year, the café buys a set of pans from the hardware store to keep its kitchen running. Meanwhile, every day, the hardware store’s employees and the managerial staff pop over to the café for lunch—sandwiches, coffee, maybe a...
The Free Market Road Show delivered powerful insights from renowned economic thought leaders during its April 14 stop at Northwood University. Originating from the Austrian Economics Center, the Free Market Road Show typically visits the world’s largest cities. Its stop in Midland underscores Northwood University’s reputation as a leading destination for free-market discourse. The lineup...
President Donald Trump’s tariff agenda exhibits no signs of a popular mandate. Recent polling found that 61 percent of the public believe raising tariffs will hurt average Americans, compared to just fourteen percent who see them as helpful. Seventy-six percent expect tariffs will produce increased prices at the store. Clear majorities also oppose Trump’s specific...
At the end of March, the Supreme Court denied a petition for certiorari in Bowers v. Oneida County Industrial Development Agency, a case involving a county confiscating a private developer’s land to give it to his business rival. Bryan Bowers, a local developer, was under contract to purchase land in Utica, New York, and planned...
The United States gained much of its famous self-reliance and can-do spirit from its Anglo-Saxon heritage, and much of its skepticism of big government from its British origins to boot. So it should horrify Americans to learn just how much the motherland has forgotten its proud tradition of self-sufficiency and pride in being self-reliant. In...
My wife and I spend over $400 a month for groceries at our local Safeway. Yet those rascals at Safeway buy nothing from us. We have an annual trade deficit with Safeway of over $5,000. Does this sound absurd? It should. In an economy with millions of vendors to buy from, the idea that I...
“Liberation Day”: That is what US President Donald Trump has called Wednesday, April 2, the day he announced huge swaths of taxes on imports worldwide. Despite the label, it was far from a day of liberation. By making imports to the US more expensive, the government is actively increasing the cost of living for American...