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January 28, 2026
Welcome to The Lighthouse, the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.
Dear Readers,
This week’s roundup spans foreign policy gambles, domestic power struggles, and the economic incentives quietly reshaping American life.
Craig Eyermann discusses how Elon Musk’s DOGE blazed into the headlines with trillion-dollar promises—but the actual savings so far are more of a “small step” than a giant leap.
Ivan Eland writes that Donald Trump’s dreams of his own Nobel Peace Prize are increasingly unlikely in the grim reality of his second term: from deploying unchecked paramilitary into American cities to the blatant use of imperialist rhetoric to threaten Venezuela to saber-rattling in the Mideast. Even worse, by reviving 19th-century imperialist rhetoric and brandishing the Monroe Doctrine, Trump is gambling at high stakes.
Scott Beyer explains why the Name, Image, and Likeness (NIL) system in collegiate sports has been criticized for creating billionaire-backed collectives that are dumping cash and distorting incentives for players at the expense of university programs. He points out, however, that the system is more meritocratic in certain ways than professional sports, and that the apprenticeship is now beginning to pay better than the dream.
Francis Crescia calls attention to how Canada’s push for reconciliation shifts from apologies to upending private property rights—and how that will have serious ramifications.
Lloyd Billingsley points out that while Mayor Zohran Mamdani and his 'tenant advocate' aim to dismantle property rights, the battle for the Big Apple is actually a fight for the fundamental rights of every American.
Alvaro Vargas Llosa warns the situation in Latin America is far more complicated than many are willing to admit.
Finally, Caleb Petitt writes about how ‘Made in America’ merchants are facing a shortage, and explains why policy reform is the life raft for the sinking domestic industry.
Happy reading.
Jonathan Hofer
Managing Editor
Top picks this week
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** Fiscal Trends in Trump’s First Year Back ([link removed])
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** by Craig Eyermann
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If U.S. politicians agreed to restrain government spending growth to match or lag government revenue growth, it would easily improve the nation’s fiscal situation. Unfortunately, that’s unlikely.
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** Trump Can Probably Kiss a Future Nobel Peace Prize Goodbye ([link removed])
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** He may still yet obtain the award again, but in a forever tarnished state. ([link removed])
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** by Ivan Eland
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Although he covets the Nobel Peace Prize itself, President Donald Trump, in his second administration, has dialed up government aggression both at home and abroad.
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** Will College Football Players Ever Make More Than NFL Ones? ([link removed])
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** While it seems implausible, college football now thrives on market competition, while the NFL operates as a cronyist cartel. ([link removed])
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** by Scott Beyer
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While the NFL clings to its “cronyist cartel” of salary caps and draft rules, the “Wild West” of NIL is turning college football into a true free market.
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** When Zohran Met Harmeet ([link removed])
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** by K. Lloyd Billingsley
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Mamdani and his new tenant advocate, Cea Weaver, tout the “warmth of collectivism” over “rugged individualism”—setting themselves up for a showdown with the Assistant Attorney General Harmeet Dhillon.
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** Reconciliation Should Heal, Not Hollow Out the Rule of Law ([link removed])
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** Canada’s property rights are under serious threat. ([link removed])
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** by Francis Crescia
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Doubts about private property ownership continue to grow in Canada, undermining the legal certainty investors need to put capital to work.
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** Latin America—Three Crucial Elections ([link removed])
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** by Alvaro Vargas Llosa
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Think Latin America is a monolith? Think again. The so-called 'right-wing shift' is a lot more complicated.
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** American Merchants are Facing a Crew Crisis ([link removed])
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** High labor costs and strict rules are shrinking the U.S. merchant marine workforce. ([link removed])
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** by Caleb Petitt
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While the world relies on global trade, the American merchant marine is hitting regulatory walls and struggling to stay afloat.
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** FEATURED BOOK — AVAILABLE SOON!
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** The Independent Guide to the Constitution ([link removed][…]ium=email&utm_campaign=constitutionbook&utm_content=ibd2545)
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** Original Intentions, Modern Inventions ([link removed][…]ium=email&utm_campaign=constitutionbook&utm_content=ibd2545)
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** by William J. Watkins, Jr.
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Drawing on a lifetime of experience in the law—as prosecutor, defense attorney, and constitutional scholar—William J. Watkins, Jr., offers a bold, independent examination of the most important legal document in modern history.
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