The fight over zoning in America has created odd bedfellows. Self-declared socialists have allied with big developers and railed against regulatory burdens on business. Self-professed conservatives have allied with radical environmentalists to fight development. Now that housing prices have surpassed their 2006 peak, mortgage rates have risen, and discussions of a housing crisis have become…

So far, the year 2022 has certainly looked like a deflating technology bubble. After a decade of rising market caps, stocks for formerly hot “tech” companies fell far below their recent highs. By September 2022, exercise equipment maker Pelo­ton was down 90 percent from a year before; ridesharing company Lyft had fallen 70 percent; videoconferencing…

Once a technology star, Zhao Weiguo rose fast and fell hard. For the last eight years, Zhao’s semiconductor manufacturer, the Tsinghua Unigroup, had fanfare, ambition, large-scale state backing, and an affiliation with China’s most prestigious institution of higher learn­ing, Tsinghua University. All this made Zhao the face and future of China’s semiconductor industry. Frequently appearing…

Gone are the debates about limited versus big government. The motivating question across most of the political spectrum today is how to build an effective government. Our state capacity has been diminished over the years through the combination of conservative anti-statism and progressive pro­ceduralism. To rebuild it will require a proactive vision of what we want the state to do and a clear-eyed understanding of the mechanisms needed to incen­tivize risk-taking…