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U.S. Government Starts 2025 Fiscal Year Deep in the Red

U.S. Government Starts 2025 Fiscal Year Deep in the Red

The U.S. government got off to a very bad start for its 2025 fiscal year. The U.S. Treasury Department reported that the federal government spent $257 billion more than it took in as revenue in October 2024. That is the second-worst figure ever recorded for the first month of the fiscal year. Only October 2020...

By Craig Eyermann

Why the Great Depression Lasted So Long: Amity Shlaes on Economic Policy Blunders

Why the Great Depression Lasted So Long: Amity Shlaes on Economic Policy Blunders

In 1940, Victor Records released the Dust Bowl Ballads, an album of songs written and performed by American folk singer Woody Guthrie. In two volumes and a dozen songs, the folk legend sang about the droughts that plagued North America in waves beginning in 1934 and ending in 1940. On the 14th day of April...

By Jonathan Miltimore

Socialism: Science or Cyanide?

Socialism: Science or Cyanide?

In a recently published booklet called The Buried Stories of Communism & Socialism, Marianna Davidovich vividly recounts the world’s horrific experiences with the evil of communism. It’s a ghastly record, littered with the bodies of a hundred million victims and the lost liberties of hundreds of millions more. No one should have ever expected otherwise;...

By Lawrence W. Reed

More trouble ahead for government-funded internet

More trouble ahead for government-funded internet

Michigan’s long-delayed distribution of federal funds for promoting internet access is likely to be delayed again. Congress in its 2021 Infrastructure Investment and Jobs Act economic stimulus legislation authorized more than $42 billion in federal funding for increasing internet access, of which $1.5 billion was allocated to Michigan. So far, not a single Michigan household...

By Ted Bolema

Who Should Pay for Really Expensive Drugs?

Who Should Pay for Really Expensive Drugs?

When is the last time you saw a news headline about cancer patients who died because they were unable to afford a drug that could have saved their lives? I bet you haven’t. One reason is that drug companies that make expensive drugs can’t afford the political backlash that would follow such a headline. Another...

By John C. Goodman

Building the Future the Past Promised

Building the Future the Past Promised

James Pethokoukis wants the future back. The 1960s future he was promised as a child. The future of Star Trek: The Original Series, The Jetsons, and Walt Disney’s EPCOT, the Experimental Prototype Community of Tomorrow. Walt Disney promised that EPCOT “will never be completed but will always be introducing and testing, and demonstrating new materials...

By Daniel J. Hugger

The Many Hidden Costs of Tariffs

The Many Hidden Costs of Tariffs

Tariffs are not going anywhere in 2025. There is no indication that the protectionist rhetoric embraced by President-elect Donald Trump has changed; in fact, the evidence suggests that tariff policy will worsen. Given this climate, it is important for economists to make the case for free trade. Of course, tariffs raise the price of tariffed...

By Benjamin Seevers

Javier Milei’s Blueprint for DOGE: A Chainsaw for Bureaucracy

Javier Milei’s Blueprint for DOGE: A Chainsaw for Bureaucracy

“What is the difference between a madman and a genius? Success.” That opening line set the tone for Javier Milei’s two-hour interview with Lex Fridman. In it, Argentina’s libertarian president reflected on the first few months of his administration following his historic electoral victory on November 19, 2023. Milei has been called many things, but...

By Daphne Posadas

Mackinac Center Unveils 101 Recommendations to Revitalize Michigan

Mackinac Center Unveils 101 Recommendations to Revitalize Michigan

A broad range of policy reforms are needed to revitalize Michigan’s economy and a new comprehensive list of policy recommendations can serve as a guide. “101 Recommendations to Revitalize Michigan,” recently released by the Mackinac Center for Public Policy, includes a wide array of reform ideas aimed at reducing living costs, boosting quality of life,...

Medicare Advantage Is Saving Taxpayers Money

Medicare Advantage Is Saving Taxpayers Money

A new study finds that the migration of people from traditional Medicare to the Medicare Advantage program over the last decade has saved the federal government $144 billion. The study arrives at a time when critics have stepped up their claims that Medicare Advantage (MA) plans are over-billing Medicare and causing a waste of taxpayer...

By John C. Goodman

Javier Milei’s ‘Shock Therapy’ Is Working

Javier Milei’s ‘Shock Therapy’ Is Working

Earlier this month, Argentina President Javier Milei dissolved the Administración Federal de Ingresos Públicos (AFIP), the nation’s largest tax bureau. Argentina’s presidential spokesperson Manual Adorni announced that a new agency will replace the AFIP, eliminating nearly 3,100 public employees and saving Argentine taxpayers 6.4 billion Argentine pesos (roughly $6.5 million). While this measure will reduce...

By Michael N. Peterson

What Should President Trump Do Once He’s In Office?

What Should President Trump Do Once He’s In Office?

A few months ago I wrote a piece for FEE on Argentina’s new president, Javier Milei. Milei took on the presidency of Argentina with a particularly pressing challenge: government overspending was driving out-of-control money creation and its by-product—inflation. Milei’s goal was explicit. He promised to cut government largesse. In my article, I argued that his...

By Peter Jacobsen

Why Lower-Income Workers Are Trending Republican

Why Lower-Income Workers Are Trending Republican

It’s hard to be an economist and, at the same time, be a Democrat. The reason? Most left-leaning Democrats reject the main teachings of economics. Yet more than 80% of academic economists are Democrats. For every Republican economist on college faculties, there are 4.5 Democrats. Consider just a few of the ways in which what...

By John C. Goodman

The Case for Eliminating Property Taxes: What This State’s Vote Means for True Homeownership

The Case for Eliminating Property Taxes: What This State’s Vote Means for True Homeownership

On November 5, North Dakota will vote on Measure 4, a ballot measure that could make it the first state to eliminate property taxes. This decision isn’t just a local concern; it’s a critical moment that could shape the future of property tax reform nationwide. If successful, the measure will challenge the notion that property...

By Vance Ginn