Economic Theory

AI investment is booming, but manufacturing output is stagnant. America needs industrial policy to restore manufacturing and reduce dependence on China.

America must answer three fundamental questions in favor of national power, innovation, growth, and national greatness or risk losing ground to the PRC.

The Democratic Party increasingly assumes the economy runs on autopilot, weakening its ability to articulate a serious vision for American economic strength.

Misleading interpretations of federal data have fueled claims that economic gains are increasingly flowing to shareholders. But when evaluating who benefits from economic growth, wages and salaries are only one component of national income.

The evolving anti-technology movement in the United States is not harmless nostalgia. It threatens growth, security, competitiveness, and human progress.

Too many academics now trade objectivity for narrative, ignoring inconvenient facts that get in the way of the story they want to tell.

Innovation not only gives rise to market power, but market power fosters innovation by enabling and incentivizing the firms that possess it to make the investments innovation requires.

Echoing social capitalism, the encyclical gets technology and employment wrong, succumbing to the lump-of-labor fallacy and short-term protection over long-term progress.

The Pope’s AI encyclical reflects social capitalism’s animus toward growth, technology-driven creative destruction, international economic competition, and large business.

Creative destruction drives growth but displaces workers. Governments shouldn’t stop it; they should support workers through the transition. The Nordic model shows it’s possible.