This week’s articles examine some of the ways concentrated political power—from runaway spending and bureaucratic control of innovation to centralized leadership—can undermine prosperity and long-term stability.

Following news that the national debt has crossed the bleak $40 trillion threshold, Scott Beyer describes how politicians continue to benefit from authorizing more programs than revenues can cover—and why different structural rules are needed.

Also examining the debt’s latest milestone, Craig Eyermann notes how continued excessive spending could add another $10 trillion in less than three years.

Raymond March argues that while artificial intelligence offers immense potential to revolutionize healthcare, putting it in the FDA’s hands has major downsides, given the agency’s bureaucratic incentives.

Alvaro Vargas Llosa examines the lessons that can be gleaned from the world of sport during FIFA President Gianni Infantino’s tenure. Although Infantino has successfully expanded global representation and generated record revenue, Vargas Llosa argues that his centralized leadership illustrates a classic political warning: Concentrating too much power in a single leader can undermine long-term stability.

Happy reading.

Jonathan Hofer
Managing Editor