The energy and resources going into this exploration of new technologies are such that we are likely witnessing the advent of new types of organizational structures for the network age. These novel institutions model a new type of ownership, restructure social relations and ultimately provide another mechanism for innovation.

The nominal gross domestic product (NGDP) gap is a new benchmark measure created by the Mercatus Center at George Mason University to determine whether monetary policy is expansionary or contractionary. The NDGP gap measures the percent difference between this average forecast and the actual level of NGDP. If actual NGDP is below the neutral level, then monetary policy is contractionary. If actual NGDP is above the neutral level, then monetary policy is expansionary.

The analysis presented here provides new insights into the size and scope of regulation across the Mideast region, which should prove useful to academics, policymakers, and even the regulators themselves as they seek to understand the consequences of the regulatory state in America.

The U.S. trade representative, Ambassador Katherine Tai, was recently in Geneva to express the U.S. position on the future of the World Trade Organization (WTO), an institution that most people agree needs reform. Tai stated that the U.S. remains committed to the WTO. In some ways, it was a relief to hear a Cabinet official confirm the U.S. commitment to the trade body, especially after the tumultuous years of the Trump administration, which had threatened to withdraw the U.S. from the WTO altogether. But in other ways, her remarks left me feeling empty-handed.

The crimes inflicted on Native Americans over the centuries are infamous. Some, such as the Trail of Tears, were intentionally committed by racist political and military leaders who wanted to sweep Indians from the continent. Others, such as the efforts in the last century to re-educate Native Americans in boarding schools, were the consequence of paternalistic attitudes by politicians who thought they knew best how Indians should live. Either way, this dismal history stands as a stark lesson in the dangers of the government treating people differently based on their race.