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The Invisible Hand: How Millions Cooperate

The very practical foundation is voluntary exchange—persuasion—in a just environment.

Ross Levine
.

Selected Featured Articles

Featured article cover: Masters of the AI Universe

Masters of the AI Universe

Don’t trust the good intentions of the powerful and few. Free people must find ways to control transformational tech.

Andy Hall
.

You Should Have Moral Qualms about Anthropic's Qualms
- Amy Zegart
  .

The Grumpy Economist Weekly Rant

Are Stablecoins Really Stable?

John H. Cochrane
.

Why Everything Should Have a Price

John H. Cochrane
.

Will AI Take Your Job?

John H. Cochrane
.

The Problem with Wealth Taxes

John H. Cochrane
.

Cover image for article: Adam Smith Was Right

Adam Smith Was Right

The 250th anniversary of Wealth of Nations, the invisible hand, and the enduring case for freedom.

John H. Cochrane
.

Cover image for article: The Real Cost of Student Loan Forgiveness

The Real Cost of Student Loan Forgiveness

How subsidies and forgiveness changed the economics of higher education.

John H. Cochrane
.

Why Authoritarians Target Women

Persecution is a weapon—a sign of a despot’s power. But when women fight back, the power weakens.

Malaina Kapoor
.

Why Authoritarians Target Women

Liberty Amplified

Cover image for article: Digital “Knapsack” Carries Tools to Foil Censors

Digital “Knapsack” Carries Tools to Foil Censors

Shokufeh Mahini
.

Cover image for article: Revolution without Headlines: Myanmar’s Forgotten Struggle

Revolution without Headlines: Myanmar’s Forgotten Struggle

Arkar Hein
.

Cover image for article: Memory as Resistance: Reading Lin Zhao at Hoover

Memory as Resistance: Reading Lin Zhao at Hoover

Rowena He
.

Cover image for article: Iranians Confront Big Brother

Iranians Confront Big Brother

Mobina Riazi
.

Cover image for article: Venezuela's Democratic Window

Venezuela's Democratic Window

Rómulo Perez
.

Cover image for article: A Guest of the Taliban

A Guest of the Taliban

Nader Nadery
.

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

China's Christians Are America's Allies

Elisa Zhai Autry
.

Cover image for article: Resistance Is Not Futile

Resistance Is Not Futile

Elbegdorj Tsakhia
.

Director's Desk

Cover image for article: Informed Minds—and Decisions—are Essential for Freedom and America’s Future

Informed Minds—and Decisions—are Essential for Freedom and America’s Future

A new edition of the Stanford Emerging Technology Review is online.

Condoleezza Rice
.

Cover image for article: Strengthening America's Education System to Secure Our Future

Strengthening America's Education System to Secure Our Future

The American Dream belongs to every schoolchild.

Condoleezza Rice
.

Cover image for article: A New Chapter for Ideas Advancing Freedom

A New Chapter for Ideas Advancing Freedom

Principled Solutions and Clear Thinking for a Complex World

Condoleezza Rice
.

GoodFellows

Cover image for article: Condoleezza Rice on the War with Iran

Condoleezza Rice on the War with Iran

A conversation guide.

Cover image for article: Gulf War III or Cold War II: Iran Truth and Consequences

Gulf War III or Cold War II: Iran Truth and Consequences

A conversation guide.

Cover image for article: Iran, Tariffs, Epstein

Iran, Tariffs, Epstein

A Conversation Guide.

Cover image for article: “Red Dawns” and Skiing on Stolen Land, with Frank Dikötter

“Red Dawns” and Skiing on Stolen Land, with Frank Dikötter

A conversation guide.

From the Hand of Adam Smith

Cover image for article: The Invisible Hand: How Millions Cooperate

The Invisible Hand: How Millions Cooperate

The very practical foundation is voluntary exchange—persuasion—in a just environment.

Ross Levine
.

Cover image for article: Letter #2: The Danger of Admiring the Wrong People

Letter #2: The Danger of Admiring the Wrong People

Not all that glitters is good. Worship of wealth and power are fatal to a free people.

Ross Levine
.

Cover image for article: Letter #1: "Why Do You Work So Hard?"

Letter #1: "Why Do You Work So Hard?"

Ambition can nurture meaning—if the reward comes from within.

Ross Levine
.

Cover image for article: From the Hand of Adam Smith: A New Series

From the Hand of Adam Smith: A New Series

What the paramount philosopher of liberty might say to the Americans of 2026.

Ross Levine
.

China Considered Quick Takes

Cover image for article: Sovereignty First: China’s Territorial Agenda

Sovereignty First: China’s Territorial Agenda

How Xi Jinping pursues territorial control without full-scale war.

Elizabeth Economy
.

Cover image for article: What Does China Want?

What Does China Want?

Xi Jinping’s global ambitions—and why China doesn’t want to replace the United States.

Elizabeth Economy
.

Cover image for article: China’s Venezuela Calculus

China’s Venezuela Calculus

What Beijing really weighs after US operation in Caracas.

Elizabeth Economy
.

Cover image for article: What the National Security Strategy Says About China

What the National Security Strategy Says About China

US Indo-Pacific policy shows more continuity than change.

Elizabeth Economy
.

Plot Points

Cover image for article: The Mystery of the Vanishing Trust Fund

The Mystery of the Vanishing Trust Fund

Did Congress rob Social Security—and if not, where did the money go?

Daniel Heil
,
Tom Church
.

Cover image for article: Do You Get the Medicare You Paid For?

Do You Get the Medicare You Paid For?

Hardly anyone pays more for his benefits than he receives.

Daniel Heil
,
Tom Church
.

Cover image for article: The Medicaid Boom and a Chance for Reform

The Medicaid Boom and a Chance for Reform

As enrollment swells, so does spending—but new rules may ease the pain.

Daniel Heil
,
Tom Church
.

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
.

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

Andrew Hall

Free Systems with Andrew B. Hall

Paul Peterson

The Modern Federalist with Paul Peterson

Michael McFaul

McFaul's World

Ayaan Hirsi Ali

Ayaan Hirsi Ali's Restoration Bulletin

Glenn Loury

The Glenn Show

Timothy Garton Ash

History of the Present with Timothy Garton Ash

I Blog to Differ with David Henderson

I Blog to Differ

Matt Turpin

China Articles with Matt Turpin

Russ Roberts

Listening to the Sirens with Russ Roberts

Tom Church

584 Vetoes with Tom Church and Daniel Heil

Patrick A. McLaughlin

Third Order with Patrick A. McLaughlin

Michael Auslin

The Pawtomack Packet with Michael Auslin

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Cover image for article: The Blind Spot in Private Credit

The Blind Spot in Private Credit

Amit Seru
.

Cover image for article: Failures of the "Old Order" Collide with the New

Failures of the "Old Order" Collide with the New

Nadia Schadlow
.

Cover image for article: Capturing the Administrative State, Word by Word

Capturing the Administrative State, Word by Word

Patrick McLaughlin
.

Featured Series

Topic image for The Grumpy Economist Weekly Rant

The Grumpy Economist Weekly Rant

Topic image for Plot Points

Plot Points

Topic image for Director's Desk

Director's Desk

Topic image for Liberty Amplified

Liberty Amplified

Topic image for China Considered Quick Takes

China Considered Quick Takes

Topic image for From the Hand of Adam Smith

From the Hand of Adam Smith

Topic image for GoodFellows

GoodFellows

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'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 to Innovate

Freedom to Innovate