March 27, 2026
The Jones Act has been temporarily waived amid the spike in oil prices. The effects of the Act in times of crisis highlight a more general consequence of protectionist policies: they benefit a few producers, and raise costs for a vastly larger group of consumers.
May 14, 2024
Current U.S. military spending is higher than at any point of the Cold War in inflation-adjusted terms, but relatively low as a percent of national income.
June 9, 2021
The market for shipping services can influence trade flows, the products that countries sell, and how price shocks reverberate through trade.
July 22, 2025
The relatively short maturity structure of US government debt means that increases in interest rates translate rapidly into higher interest costs.
