Fifty years ago, Milton Friedman won the Nobel Prize, and his best-known idea, monetarism, has been on a roller-coaster ever since. The notion that steady money growth produces steady economic growth was invoked by the Fed under Paul Volcker to...

Roughly 3 million Americans own private businesses and have a net worth of at least $5 million. Together they hold more than $50 trillion, about 13 times the wealth of the entire Forbes 400. In this episode, Chicago Booth economist...

Student loan borrowers who were more optimistic that their loans would be forgiven under the plan announced in August 2022 increased their routine spending by roughly $80 per month, and those who expected the COVID-era pause to be extended again...

Competition among firms developing artificial general intelligence can encourage them to prioritize speed over safety, increasing the risk of a catastrophic outcome. Industry consolidation, regulation facilitating commitment to slow down, and governments entering the race in a safe way improves...