Today, Michael McFaul marks four years since the start of Russia’s brutal full-scale assault on Ukraine with a reminder of Americans’ agency to shape US foreign policy; John Cochrane explains the central importance of prices in allocating scarce resources and coordinating market activity; and Elizabeth Economy outlines the role of territorial claims and sovereignty concerns in China’s geopolitical outlook.
International Affairs
“Russia’s full-scale invasion of Ukraine has now dragged on for four bloody, horrific, cold, and dark years,” writes Senior Fellow Michael McFaul at his Substack. “The war, of course, began in 2014, but escalated on this date four years ago,” the former US ambassador to Russia notes. McFaul emphasizes the tragedy of this war for Ukraine and Ukrainians while also expressing confidence that Ukraine will prevail over Russia, “because Putin has already failed to achieve any of his initial war aims and has very few options to reverse these outcomes, even if he decides to fight on for years.” McFaul encourages his fellow Americans who are concerned about the direction of US policy toward Ukraine to remember that they retain agency. “We need to remain engaged in making the case for helping Ukraine, as it is not only the morally right but also the smart thing to do to advance American security interests,” McFaul concludes. Read more here.
Freedom Frequency
In this week’s Grumpy Economist Weekly Rant, Senior Fellow John H. Cochrane examines why pricing scarce resources—roads, parking, electricity, and more—can improve efficiency and availability. Using everyday examples such as express lanes and dynamic parking, he shows how real-time prices signal demand, encourage people to adjust behavior, and help prevent congestion or shortages. When prices reflect scarcity, systems allocate access to these resources automatically rather than relying on rules or political decisions. The real lesson is broader than transportation or utilities: Prices transmit information and create incentives, guiding choices about when and how resources are used. Attempts to suppress prices in the name of fairness often create shortages or inefficiencies instead. Rather than using prices to redistribute income, Cochrane argues, policy should allow prices to allocate resources while using transparent mechanisms—such as vouchers or transfers—if redistribution is needed. Watch or read more here.
In a new China Considered Quick Takes, Senior Fellow Elizabeth Economy explains why reclaiming what Beijing views as lost territory—from the Himalayas to Taiwan and the South and East China Seas—sits at the core of Xi Jinping’s vision for the “great rejuvenation of the Chinese nation.” China currently faces territorial disputes with at least 10 countries, making sovereignty a defining feature of its foreign and security policy. Economy outlines the consistent strategy Xi employs to advance these claims: portraying disputed land as sacred to China; applying political, economic, and military pressure short of war; and rejecting international criticism or legal rulings. From refusing arbitration in the South China Sea to exerting sustained pressure on Taiwan and expanding settlements in Bhutan, these actions are reshaping regional security dynamics. Even as Indo-Pacific countries strengthen defense cooperation and align more closely with the United States, Xi’s pursuit of territorial consolidation remains unchanged. Read more or watch here.
Law & Policy
In a post at his Volokh Conspiracy blog, Senior Fellow Eugene Volokh highlights a key passage from the concurrence of Justice Gorsuch with the majority opinion in last Friday’s Supreme Court ruling striking down the Trump administration’s global tariffs. Gorsuch notes that “most major decisions affecting the rights and responsibilities of the American people (including the duty to pay taxes and tariffs) are funneled through the legislative process for a reason. . . Through that process, the Nation can tap the combined wisdom of the people's elected representatives, not just that of one faction or man.” Volokh calls attention to the “prediction” Gorsuch makes in his conclusion. The Justice writes, “If history is any guide, the tables will turn and the day will come when those disappointed by today's result will appreciate the legislative process for the bulwark of liberty it is.” Read more here.
UK Policy & Politics
In an op-ed for The Sun, Distinguished Visiting Fellow Andrew Roberts, a member of Britain’s House of Lords, argues that while the “arrest of Andrew Mountbatten-Windsor” [formerly known as Prince Andrew] represents “a profoundly low point for the modern monarchy,” Britons should not “exaggerate its political and constitutional implications.” Roberts stresses that even if the disgraced royal is found guilty of alleged misconduct in a public office, “the sole constitutional issue the whole disgraceful affair would raise would be if he should be removed as eighth in line to the Throne.” Roberts rebuts arguments against the continuation of the British monarchy, writing that “the British people do not want their Head of State to be a politician.” Roberts emphasizes the stabilizing and unifying role of the royal family in British life “in a time of devolved institutions and the constant balkanization and atomization of our society.” Roberts concludes that for Britain’s royals, Andrew’s arrest “is just the latest crisis, and historically by no means the worst.” Read more here.
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