Why are so many liberals vexed about free trade? Aren’t we supposed to like things that enhance freedom? Now I understand that free trade opens up the possibility that some American jobs will be lost. So what? The purpose of free trade is to allow Americans to have access to products and services at the […]

This week’s Treasury bill auctions have produced a little surprise: the three year notes were sold easily, but a day later the five years notes were less well accepted. The result was that five year interest rates rose slightly — the Government had to settle for higher interest rates in order to attract enough buyers […]