Blog

That Darn Coin

They say that a bad penny always turns up. But when it comes to crises these days, it seems that what keeps turning up is a bad idea—namely, the idea of having the U.S. Mint strike one or more trillion‐​dollar platinum coins.

Blog

The End of an Era

It may be that the proposition “money buys elections” was never really an empirical hypothesis. If so, it cannot be refuted by facts. This belief may just be part and parcel of populism, a pathological aspect of popular government.