The New Year is regularly a time to look ahead, and at Mercatus, we’re excited about what’s to come in 2025. From groundbreaking research to bold policy ideas, we’re tackling the challenges of tomorrow with fresh perspectives and a focus on cultivating and positioning talent to make a real difference.

Shaping the Future of Work
I think first of Liya Palagashvili’s work on labor issues. Her first-in-field research on portable benefits for independent workers has already made a tangible impact—Lyft recently launched a pilot portable benefits program in Utah, inspired by a state bill informed by her work at Mercatus. This is an example of how innovative, research-driven ideas can lead to practical solutions.

In addition, Liya has been a leading voice against the unintended consequences of over-regulating non-traditional jobs, as seen with California’s AB5 law. With flexible work continuing to dominate policy discussions in 2025, I’m confident Liya will remain at the forefront of these critical debates.

Championing Efficiency and Sound Policy
With a new administration, new Congress, and the Department of Government Efficiency (DOGE), there will be opportunities to make the case for policy positions Mercatus has long held. From deregulation to eliminating wasteful spending, there are policy ideas aplenty for increasing our government’s efficiency.

There will also be opportunities to fight for even better policy than is being considered on issues like tariffs. Our North Star is market-based solutions for real-world problems, we won’t lose sight of that even as we take opportunities for better policy where we can.

Training the Next Generating of Thinkers
Our academic and student programs have begun accepting applications for their fellowships. Every year, these teams do the work of introducing a new generation of students to classically liberal ideas. 2025 will be no different. New, talented students will grapple with free market solutions, individual liberty, and political philosophy. We educated over 800 students last year and are looking for even more in 2025.

Advancing Monetary Policy
David Beckworth is leading the charge at Mercatus on bold but attainable policy proposals the Federal Reserve should consider during its upcoming framework review. This is an opportunity for our central bank to recalibrate how it pursues its dual mandate of price stability and maximum employment, creating a more robust monetary policy framework that better serves the US economy.

Expanding Our Focus on Talent
There are countless examples of policy to be excited about, but we’re also not blind to the increasing challenges to classically liberal values. Threats to free markets, free discourse, and the rule of law are on the rise. Mercatus will rise to meet the moment by doing what we do best: developing talent.

At Mercatus, “talent” refers specifically to individuals who can combine a deep understanding of classical liberalism with the ability to shape public discourse, influence institutional change, improve public policy, cultivate new scholars, or exert some other important real-world influence.

They are intellectual force multipliers who generate new ideas, start new institutions, lead intellectual movements, or inspire others by their very presence and leadership.

So, we’re expanding our efforts in talent development! We plan to identify even more classically liberal talent, cultivate that talent through intensive training, and position that talent in influential networks and institutions. Much more to come on this throughout 2025!