Policy

The quality of political Insiders and officials has collapsed as high talent has migrated (startups, hedge funds, mixes of maths and money etc).

Without a high-end market on which to sell, innovators would find less incentive to innovate: they wouldn’t earn a dime until the economy had advanced to a stage at which general provision of their new product was feasible.

Since the industrial revolution, the interests of states and people have been unusually aligned. To be economically competitive, a strong state needs efficient markets, a good education system that creates skilled workers, and a prosperous middle class that creates demand. It benefits from using talent regardless of its class origin. It also benefi

For any teachers reading this, invite dragons back into your classrooms. Allow boys to compete. Keeping tabs of great answers and intellectual risks taken in class is a great way to engage boys. Inter-class competitions really get them going… Reward amazing performances. Reward them when they take on challenges. Pat them on the back… Boys need rule

Russell was for twenty-six years either Chairman or dominant member of the Senate Armed Services Committee, which oversaw the battle readiness of the nation’s far-flung legions and armadas. As senators of Rome had insisted that, regardless of the cost, the legions must be kept at full complement because the peace and stability of the known world—th

Loose monetary policy created asset-price inflation, but ordinary people mostly just felt the effects of rising prices. Unlike the wealthy, they didn’t benefit much from the rising asset prices in their portfolios.

Wells—writing on behalf of President Johnson—asserted that “the industry which this legislation is designed to encourage is actually less than that which will be destroyed by the passage of this bill.” Furthermore, the veto included strong statements against the type of special interest fervor which characterized the wartime period and would largel

The empathy for and interest in protecting the powerless and a ruthless pursuit of opportunity for all, no matter of high or low birth, that once defined a righteous and productive political movement has been set aside in favor of a performative politics—whose most zealous adherents are often more interested in signaling membership in a caste—that

By keeping long-term interest rates deliberately low, the Fed in effect subsidized government deficit spending by keeping the cost of borrowing artificially low. Only now as the Fed has had to raise interest rates to counter inflation have the costs to the federal fisc become more apparent.