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The Grumpy Economist Weekly Rant

Cover image for article: Should the Federal Reserve Be Independent?

Should the Federal Reserve Be Independent?

Independence works only with a narrow mandate and limited tools.

John H. Cochrane
.

Cover image for article: The Fuel Economy Standards Dilemma

Plot Points

Cover image for article: Expiring Subsidies, Competing Fixes

Expiring Subsidies, Competing Fixes

How Democrats seek to extend, and Republicans to replace, COVID-era health plan subsidies.

Daniel Heil
,
Tom Church
.

Cover image for article: The Reform that Didn't Require a Shutdown

The Fuel Economy Standards Dilemma

Why decades of regulation made cars bigger, not greener.

John H. Cochrane
.

Cover image for article: Just Let Them Build

Just Let Them Build

Giving people money to buy houses doesn’t increase supply. It drives up prices.

John H. Cochrane
.

Cover image for article: The Trouble with Tariffs

The Trouble with Tariffs

Why free trade benefits everyone.

John H. Cochrane
.

Cover image for article: The Price Control Trap

The Price Control Trap

Markets matter during crises.

John H. Cochrane
.

Cover image for article: Where Does Inflation Come From?

Where Does Inflation Come From?

It’s not the usual suspects.

John H. Cochrane
.

Cover image for article: Your EV is a Non-Starter

Your EV is a Non-Starter

Subsidies won’t save the planet. Innovation might.

John H. Cochrane
.

Cover image for article: Taxes without Distortion

Taxes without Distortion

What is the simplest way for the government to raise revenue without wrecking the economy?

John H. Cochrane
.

The Reform that Didn't Require a Shutdown

A little-noticed change will let millions more Americans use health spending accounts.

Daniel Heil
,
Tom Church
.

Cover image for article: The Long-Term Health Crisis

The Long-Term Health Crisis

The outsize effect health care will have on the federal budget.

Daniel Heil
,
Tom Church
.

Cover image for article: The Shutdown

The Shutdown

A dispute over mandatory spending forced a shutdown of discretionary programs.

Daniel Heil
,
Tom Church
.

China Considered Quick Takes

Cover image for article: What the National Security Strategy Says (And Doesn't Say) About China

What the National Security Strategy Says (And Doesn't Say) About China

US Indo-Pacific policy shows more continuity than change.

Elizabeth Economy
.

Cover image for article: Trump in Asia: A Trade Win for the US?

Trump in Asia: A Trade Win for the US?

A step forward with China toward the pre-Trump trade war status quo, but not a transformation.

Elizabeth Economy
.

Cover image for article: Trump, Xi, and the US–China Strategy Gap

Trump, Xi, and the US–China Strategy Gap

Elizabeth Economy breaks down the recent Trump–Xi call, upcoming summits, and why the absence of a clear China strategy leaves US policy at risk.

Elizabeth Economy
.

Liberty Amplified

Cover image for article: Venezuela's Democratic Window

Venezuela's Democratic Window

The nation has a fleeting chance to restore its autonomy, its economy, and its dignity.

Rómulo Perez
.

Cover image for article: A Guest of the Taliban

A Guest of the Taliban

A former student activist recalls an episode when his work for justice in Afghanistan came at a terrible price.

Nader Nadery
.

Cover image for article: China's Christians Are America's Allies

China's Christians Are America's Allies

The believers who gather in China’s persecuted house churches represent a freer future.

Elisa Zhai Autry
.

Cover image for article: Resistance Is Not Futile

Resistance Is Not Futile

The moment when democracy bloomed in Mongolia.

Elbegdorj Tsakhia
.

Hoover Fellows on Substack

John Cochrane

The Grumpy Economist with John Cochrane

Niall Ferguson

Niall Ferguson's Time Machine

H.R. McMaster

History We Don't Know with H.R. McMaster

Joshua D. Rauh

Liberty Lens with Josh Rauh

Ayaan Hirsi Ali

Ayaan Hirsi Ali's Restoration Bulletin

Paul Peterson

The Modern Federalist with Paul Peterson

Michael McFaul

McFaul's World

Glenn Loury

The Glenn Show

Timothy Garton Ash

History of the Present with Timothy Garton Ash

Matt Turpin

China Articles with Matt Turpin

Tom Church

584 Vetoes with Tom Church and Daniel Heil

Russ Roberts

Listening to the Sirens with Russ Roberts

Andrew Hall

Free Systems with Andrew B. Hall

Explore More Topics

Topic image for Freedom to Prosper

Freedom to Prosper

Topic image for Freedom Then and Now

Freedom Then and Now

Topic image for Freedom-China Fault Line

Freedom-China Fault Line

Topic image for Freedom's Frontline

Freedom's Frontline

Topic image for Freedom at Home

Freedom at Home

Topic image for Freedom in the World

Freedom in the World

Topic image for Freedom + the Future

Freedom + the Future

Selected Featured Articles

Featured article cover: Artificial Intelligence and the Roads to Escalation

Artificial Intelligence and the Roads to Escalation

Unless the new tech is understood and controlled, AI could raise the danger of a clash with China.

Jacquelyn Schneider
.

Can Talking Politics Get You Fired?
- Eugene Volokh
  .
Biology on the New Frontier
- Drew Endy
  .
At the End of the Postwar World
- Victor Davis Hanson
  .
Herbert Hoover Writes to America, 2025
- Ross Levine
  .