Americans have placed an unprecedented bet on the transformative power of artificial intelligence. The past 50 years of economic history suggests it won’t pay off, at least not on a timetable the market expects. Not since the Gilded Age—when, in 1885, railroad stocks accounted for more than 80% of active trading on the New York
It is time for a state to take Congress to court | Fortune Steve H. Hanke is a senior contributing columnist at Fortune, a professor of applied economics at Johns Hopkins University, and a director of the Federal Fiscal Sustainability Foundation, which advocates for a fiscal responsibility amendment and a statutory fiscal commission. He is
Twenty years ago, the distinction seemed simple. You invested through a brokerage account. You gambled at a casino. You were entertained by watching a game, movie or TV show. For Gen Z, those distinctions are far less obvious. Gen Z is the first generation to have their sportsbook, brokerage account, crypto exchange and prediction market
Imagine your boss praising a report you finished with AI. A job that once took an afternoon was done in an hour. You checked the result, and it was good. Do you mention the AI? Tell your boss, and you might become the person everyone turns to for help with the new technology. Better assignments
Ecuador’s president tried to kill the dollar. Here’s what that means for Venezuela, Argentina and the Rest of Latin America | Fortune Steve H. Hanke is a senior contributing columnist at Fortune and a professor of Applied Economics at The Johns Hopkins University. From 1995 to 1996, he served as economic advisor to President Rafael
The social sector is in severe distress. Nonprofits serving communities across the US have faced an existential crisis since January 2025, when the Trump administration and its allies in Congress began a series of actions targeting the sector. Nonprofits have been reeling from these actions, even as demand for their services has increased as a
