November 2025 ISSUE

Misusing Trade Agreements

By Peter Calcagno and Beatriz Maldonado

Beginning on July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) superseded the North American Free Trade Agreement (NAFTA) as the trade deal among the three countries.1 Unlike NAFTA, which only included a transparency provision, the USMCA contains specific me...

On Solving Social Dilemmas

By Vincent Geloso

Economists like blackboards. Using chalk (or markers), they construct logically consistent abstractions of the world. They call them “models”. This invites derision from both academics and the general public. However, the abstractions are often tested against the ...

What China Knows

By Arnold Kling

Process knowledge is hard to measure because it exists mostly in people's heads and the pattern of their relationships to other technical workers. We tend to refer to these intangibles as know-how, institutional memory, or tacit knowledge. They are embodied by an ex...

The Rational Bull Elk

By Richard B. McKenzie

I watch a lot of nature documentaries. I’m not very choosy about the animals covered, whether whales, moles, lions, ants, chameleons, blowfish, or mosquitoes. I’m even fascinated by footage of bacteria under a microscope. I’m usually immersed as I sit in front of...

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