Seventy-five years ago, there occurred an important event in the post–World War II revival of free-market liberal ideas. Over the first ten days of April 1947, 39 people from Europe and the United States met in a hotel in Switzerland at a mountain place known as Mont Pelerin. They came together to discuss the future of economic, social, and political liberty in the face of the rise and growing influence of collectivist ideas, especially in the various forms of government central planning. …
China can’t be sure whether the U.S. and Japan would sit on the sidelines. Not so long ago, Taiwan and mainland China were mending their relations.
Economic research shows that monetary policy works best when conducted by an independent central bank. After Fed chairs in the 1960s and ‘70s caved to pressure from American Presidents, those who followed sought, at least to some degree, to reestablish the Fed’s independence. Until now, that is. …
In the simulation we mapped out, not only does NATO get sucked in unintentionally, but Russia releases nuclear weapons in its desperation.
