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April 23, 2025

Welcome to The Lighthouse ([link removed]) , the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.

Dear Readers,

This week, the Harvard-Trump showdown has escalated. Harvard has announced it will sue the administration on the grounds that the federal funds budget freeze compromises the university's academic freedom and infringes on the First Amendment. Filed in a Massachusetts federal court, the suit follows a letter sent to Harvard by the Trump administration threatening the university with cuts. But is Harvard "owed" public funds?

Taking on the Harvard issue, Nikolai Wenzel makes the case that America's founding principles are more pertinent than ever, especially during an era in which they're too often ignored at the university level.

Craig Eyermann explains that government initiatives fail not simply because of incompetence but rather because of inherent flaws and perverse incentives.

Francis Crescia questions whether central banker Mark Carney is more of the same as Justin Trudeau or if his rising stardom indicates an even greater acceptance of centralized economic control in Canada.

In a working paper, Caleb Petitt discusses the effect of worldwide tax uniformity on economic freedom.

Finally, a new episode of The Independent with Scott Atlas features guest economist John Cochrane. They analyze the most significant and controversial policy challenges facing the Trump administration.

Enjoy this issue of Independent Weekly!

Jonathan Hofer
Managing Editor

Top picks this week
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** God and Man at Harvard: The Forgotten Constitutional Roots ([link removed])
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** by Nikolai Wenzel
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We would all do well to return to the Constitution every now and then.
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** BEAD Program and Bureaucratic Failure by Design ([link removed])
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** A $42.5 billion federal program meant to bridge the digital divide reveals how layers of bureaucracy—not lack of funding—can stall progress by design. ([link removed])
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** by Craig Eyermann
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Like many government initiatives, the Biden administration’s broadband program's abysmal failure was a feature, not a bug.
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** Mike Carney’s Canada? ([link removed])
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** by Francis Crescia
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Mark Carney’s worldview leans toward top-down economic management. So did Justin Trudeau’s. Is more of that in store?
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** Understanding the Potential Challenges of International Tax Harmonization and the Potential Benefits from Embracing Tax Competition ([link removed])
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** by Caleb Petitt
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Tax competition empowers a country’s citizens.
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** PODCAST
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** John Cochrane: Economic Pitfalls and Opportunities in Trump’s Second Term | Ep. 47 ([link removed])
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Scott welcomes economist John Cochrane to the show. They discuss several of today’s key and most controversial issues in economic policy, all of which are front and center in the Trump era.
Watch Now ([link removed])


** FEATURED BOOK - NOW 50% OFF!
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** Pope Francis and the Caring Society ([link removed])
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** edited by Robert M. Whaples
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What is the most effective way to fight poverty? Are the poor better off under a market economy? What value does a religious perspective offer in addressing moral, political, and economic problems? Pope Francis and the Caring Society is the indispensable resource for readers to understand how the late Pope considered—or how he ought to have considered—these vital questions.
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