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    Economic Freedom Key to Unlocking a Prosperous Arab Future

    In the latest issue of the journal Democracy, Michael Wahid Hanna identifies Seven Pillars of the Arab Future. First on his list: economic growth and equality. Among the troubling Middle East economic indicators highlighted by Hanna are low economic growth, inequality, and high unemployment, especially for youth. He identifies five … More

    Cyprus Bank Raid: The Decaying Eurozone Is Rotting the European Union

    Today, Cyprus’s banks opened for the first time in more than 10 days, after Cypriot President Nicos Anastasiades—without seeking approval from his parliament—agreed to bailout terms that will raid citizens’ bank accounts. Those banking in Cyprus should not get too excited about the banks reopening. Strict capital controls are in … More

    Cyprus Bank Bailout: Russia Partly to Blame

    As Cypriots come to grips with this week’s agreement to bail out its banks, Russian policymakers need to think about why their citizens are involved in this crisis. Around 40 percent of Cyprus bank deposits belong to Russian individuals or businesses, and accounts with more than 100,000 euros now face … More

    Cyprus: Big Government on a Little Island

    The Cyprus bailout fiasco continues, elevating the four-year-old eurozone debt crisis to a new level of volatility and uncertainty. At the core of the debacle lies the tiny island’s outsized banking sector, which is over eight times the size of the economy. But the third-smallest European Union (EU) member has … More

    Government Sugar Policy: Buy High, Sell Low?

    It was recently reported that the federal government is considering buying 400,000 tons of sugar to prop up prices for sugar producers. The government would then sell the sugar at a loss of 10 cents per pound, costing taxpayers $80 million. Conventional wisdom for investors is “buy low, sell high.” … More

    President Obama’s Middle East Trip Underscores Need for Economic Freedom

    President Obama is in the Middle East this week, two years and three months after Tunisian street vendor Mohamed Bouazizi unleashed the Arab Spring by protesting against his lack of economic freedom. Mohamed’s father died when he was three years old. When his stepfather became ill, Mohamed quit school to … More

    The Arab Spring: The Need for Private Property Rights

    There is more the President could do during his Middle East trip to improve the stability in the region: He should promote economic freedom. The Middle East and North Africa are two regions where countries lack the institutions to protect private property rights. In his recent Wall Street Journal op-ed, … More

    Egypt: Too Big to Fail?

    As President Obama visits Israel, one of the biggest elephants in the room is the ongoing financial crisis just across the desert in Egypt. Since the Arab Spring uprising, Egypt’s economy has deteriorated. The country’s most immediate crisis is a foreign reserve shortage. Stocks of the country’s foreign currency reserves … More

    Rep. Charles Rangel Mischaracterizes Heritage Position on Trade with Cuba

    Representative Charles Rangel (D–NY) has a mixed record on trade freedom. And he voted “no” in October 2011 for the free trade agreement with Colombia, a trade agreement The Heritage Foundation supported. Now Rangel wants to free the way for trade with Cuba, a totalitarian dictatorship, and to back his … More

    Obama Middle East Trip: Leading from Behind Doesn’t Work

    This week, President Obama travels to the Middle East, including his first visit to Israel since becoming commander in chief. The trip comes at a challenging time of declining U.S. leadership abroad and waning economic freedom and prosperity at home, a regrettable combination that the President’s own policies have created. … More