Uncategorized

The Price of the Lockdown

February 12, 2026
Welcome to The Lighthouse, the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.
Dear Readers,

This week, our writers take on some of the most pressing policy debates at home and abroad, with a focus on government overreach, fiscal responsibility, and individual freedom.

First, K. Lloyd Billingsley examines the illiberal efforts to suppress dissent during the COVID-19 lockdowns, emphasizing the lack of accountability.

Then, in a pair of articles, Craig Eyermann explains how even though America’s debt slowed, far too little has been done to avoid the fiscal storm still barreling toward us. He also shows how Washington’s runaway borrowing quietly inflates the cost of your mortgage, car, business loan, and even your groceries.

Scott Beyer details the various types of urban sprawl, noting that much of the undesirable sprawl seen in American cities is often a result of government intervention in urban development.

In another article, Beyer writes about how a half‑century‑old law compromises retirement returns and why unleashing 401(k)s could finally give adults control of their own financial futures.

Finally, Ivan Eland writes that Iran’s situation is likely to end not in war, but in a recycled version of the nuclear deal he once denounced.

Enjoy.

Jonathan Hofer
Managing Editor

Top picks this week

The Price of the Lockdown

How the COVID era fettered science and liberty.

by K. Lloyd Billingsley

Dr. Jay Bhattacharya reminds us: If our civil liberties depend on unelected bureaucrats who shun debate, force draconian polices on the people, and disregard possible harm, then do we really have a free country?
Read More

The National Debt Grew Slower in 2025

Is the U.S. reining in spending?

by Craig Eyermann

Until Congress acts, the U.S. government is on course to careen from one fiscal crisis to the next, with ever-worsening outcomes as a result.
Read More

The National Debt and the Cost of Everything

Rising federal debt quietly drives up household costs through higher interest rates.

by Craig Eyermann

How much more are you paying for everything because of the U.S. government’s excessive spending?
Read More

Is Sprawl a Market Outcome?

Sprawl is natural and beneficial for human development—but density shouldn’t be banned

by Scott Beyer

Is sprawl a market outcome, or the result of government social engineering? The honest answer is: both.
Read More

It’s Time to Unleash 401(k)s

The federal government takes a paternalistic approach to one of America’s top private retirement systems.

by Scott Beyer

There has never been a better time to fix ERISA rules that hamstring financial planning and investing.
Read More

Iran and the Art of the Retread

Why Trump might settle for Obama’s Iran deal.

by Ivan Eland

The trajectory of the Trump administration suggests a preference for an Obama-style nuclear deal with Iran.
Read More

FEATURED BOOK  — AVAILABLE NOW!

The Independent Guide to the Constitution

Original Intentions, Modern Inventions

by William J. Watkins, Jr.

Drawing on a lifetime of experience in the law—as prosecutor, defense attorney, and constitutional scholar—William J. Watkins, Jr., offers a bold, independent examination of the most important legal document in modern history.
Donate
You received this message because you are subscribed to The Lighthouse.

Independent Institute, 100 Swan Way, Oakland, CA 94621-1428
Manage preferences | Unsubscribe

Copyright © 2026 Independent Institute, All rights reserved.

Categories: Uncategorized

Leave a Reply