With the Trump Administration signaling fundamental shifts in immigration policy, schools across the United States face an urgent crisis — the safety and well-being of over a quarter of our students are at risk.

If economists are to solve the problems that people care about, they must stop treating production as an afterthought and accept – as all other natural and social sciences have – that theories of equilibrium are a comforting nineteenth-century relic.

The bond markets are watching. Trump and Bessent should consider themselves warned.

Every four years, on January 20 America celebrates the will of the people to elect its president and, frequently, to peacefully transfer power. That is American exceptionalism, and should be celebrated in all its aspects.