


As we approach the 250th anniversary of the signing of the Declaration of Independence, let’s clear some cobwebs of misunderstanding out of our collective historical attic. I have written a longer piece, which appears as a note on the Andersen…


For as long as companies have existed, there has been one thing they could never fully own. They could buy equipment, acquire buildings and patent inventions, but never lay claim to the knowledge in their employees’ heads. Training appeared as an expense. Expertise lived in people. And…

The June Federal Open Market Committee (FOMC) decision to keep the target range for the federal funds rate unchanged at 3½ to 3¾ was not a surprise. But the statement—significantly shorter than in April—tilted hawkish, with the committee reaffirming its…

The closure of the Strait of Hormuz did more than spike oil prices. It exposed how energy, technology, and geopolitics can no longer be managed as separate issues. Governments that treated them as such paid a price as did global investors. Three lessons stand out…

As we celebrate the 250th anniversary of the Declaration of Independence, it is worth pausing to ask a basic question: What caused Americans to rebel in April 1775, and what role did the Declaration play fifteen months later in legitimizing…


The 2020s have been defined by repeated negative supply shocks, pushing inflation into a higher, more volatile regime than any seen in 40 years. The United States has seen core inflation remain well above the Federal Reserve’s 2% target for…

The conflict with Iran first broke out in June 2025 and escalated sharply in the months that followed. With a peace settlement now appearing near, attention is turning to what comes after: whether the Gulf can attract the investment capital…

AI’s most important contribution to healthcare is removing the administrative drag that prevents clinicians from doing the work only humans can do. That distinction is essential. In an aging society, the binding constraint is human presence, not data processing power.…