In recent years, the subject of rare earth elements, or REEs, has taken on a mystique that far exceeds their actual economic significance. Headlines warn of shortages, embargoes, and even geopolitical warfare, portraying these minerals as the linchpins of technological supremacy. China, the dominant producer of REEs, has occasionally flexed
In a healthy economy, the gravitational force that keeps business tethered to reality is customer satisfaction. A company grows because people feel better off after using its product. The demand is genuine, not manufactured. Failures appear early, before capital is wasted. Success, when it comes, rests on repeated demonstrations of
In a truly free economy, investment is not a matter of scanning charts or watching index flows, it is an act of judgment about where genuine value is being created. The conventional instinct, to gravitate toward the largest, most established companies, often reflects comfort more than reason. Those great corporate
Look around, every corner of the modern economy is becoming wildly more efficient. We live in an age of unprecedented technological acceleration and hyper-optimized global production, yet the average person rarely experiences the sustained, year-over-year price declines that such efficiency logically demands. The pace of innovation, from advanced robotics and
There is a temptation to treat the DOGE experiment as a kind of historical curiosity, a spectacle that flared briefly and collapsed under its own contradictions. But if one looks more closely, it becomes clear that it was never a real reform effort. It was a collision between idealistic impatience
How the Costless Money Is Destroying Modern Prosperity There is something strangely childlike about the way modern societies talk about money. Grown adults, academics, politicians, journalists, repeat ideas that would collapse under the pressure of a single honest question. They speak as if debt never matures, as if printed money
The modern argument about artificial intelligence usually revolves around tasks. People list the jobs that machines might learn to perform and speculate about which industries will disappear first. But this debate overlooks the true boundary of automation. The decisive question is not whether AI can execute a procedure. It is
The great paradox of the AI revolution is that it began by ignoring one of the most reliable laws of technological development. New technologies start expensive, scarce, and restricted. The first mobile phones were not handed out freely to millions. They were costly tools used initially only where they created
Every few years, a new technological frontier arrives wrapped in predictions of catastrophe. Artificial intelligence is merely the latest candidate in a long line of inventions that were supposed to sweep humanity aside. The narrative is familiar, machines will take our jobs, the labour market will collapse, and society will
If you look at Nvidia today, it is easy to be impressed. The company dominates its industry so completely that it often feels less like a business and more like a force of nature. Every new AI model, every cloud expansion, every bold prediction about the future seems to pull
AI
There is a certain irony in the global fascination with Bitcoin. Its admirers speak of it as if it were a sudden revelation, a technological marvel destined to reshape the financial order. But the truth is simpler, older, and far less flattering to our existing institutions. Bitcoin exists only because
AI
Every technological age is defined by the limits of its machines. Steam engines could push, pull, and rotate. Electricity could illuminate, drive motors, and connect continents. Computers could calculate and store. But all of these machines shared one trait: they were tools. They extended human capability, but they did not