Economy

The nomination of Kevin Warsh to replace Jerome Powell as Federal Reserve Chair has many people wondering: What makes a good Fed chair? The answer, it turns out, depends on the environment in which the…

Key Insights (AI-assisted): Accelerating unit growth alongside flat revenues signals a structural shift toward ultra-low-cost cellular IoT, reshaping vendor economics and design choices. The dominance of LTE Cat.1 bis and China/India volume means global device…

A year or so ago, I met my friend’s mother for the first time at a wedding. She told me that she was Mississippi born and raised, but that after her kids were born she…

For most of us, especially those of us who think about it a lot, the Roman Empire conjures up famous names of such men as Caesar, Augustus, Nero, Marcus Aurelius, and a few others of…

Key Insights (AI-assisted): Enterprise IoT’s evolution toward operational autonomy signals that value will concentrate around decisioning and execution rather than connectivity or data collection. Vendors built around generic platforms or dashboarding risk disintermediation as customers…

One of the most robust findings in economics is that, with few exceptions, people respond to incentives, rather than intentions or moral principles. Individuals operate under constraints of time, information, and risk, and as such,…

Substantive change has occurred in the subjects examined in my second book, Gold and Liberty (AIER, 1995), since it was published three decades ago. That change has been mostly negative, unfortunately, especially during the first…

Key Insights (AI-assisted): Private cellular’s growth trajectory signals that IoT connectivity is shifting from best-effort public networks to deterministic, site-specific infrastructure. For vendors, the 6,500 deployments and fragmented supplier base imply an intensifying battle over…

The US Census Bureau just released state population data for mid-year 2025, along with updates for all previous years back to the 2020 Census. The Census estimates population growth with data on births, deaths, international…

Prediction markets seem to be everywhere these days. Now you can bet not only on the outcomes of sporting events, but also elections, wars, and natural disasters. Yet many people react to these markets with…