“Prosecutors and investigators with Hungary’s tax authority on Tuesday raided offices housing data servers used by former prime minister Viktor Orbán ‘s Fidesz party as part of a probe into suspected embezzlement and other crimes, a prosecutor’s office spokesperson told The Associated Press. Fidesz accused the governing Tisza party, led by pro-European Prime Minister Péter Magyar, of seeking to use legal means to destroy it. Marianna Bodó, a spokesperson for the Bács-Kiskun County chief prosecutor’s office, said in an email that the raid was part of an investigation into the suspected misuse of grant money through Hungary’s National Cultural Fund while Orbán’s government was in office.” (07/21/26)
“Washington at last seems to have hit upon a revenue idea that both Republicans and Democrats like: taxing artificial intelligence to help the American worker. Too bad it would do the opposite. On the right, President Donald Trump wants AI companies to give ‘something back to the public,’ while Sen. Josh Hawley (R-Missouri) has expressed openness to taxation to make sure AI companies ‘are actually working for the public good.’ On the left, Sen. Bernie Sanders (I-Vermont) wants the public to own half of the biggest AI companies, and Rep. Ro Khanna (D-California) has called for a tax on AI tokens, the basic data unit processed by large language models. The various tax proposals rely on different mechanisms, but the same story motivates them. It’s a story based on a zero-sum assumption — that gains for capital automatically means losses for labor.” (07/21/26)
Source: Foundation for Economic Education
by Stefan Bartl
“From De Beers’s 1940s slogan ‘A Diamond Is Forever,’ to ‘Every Kiss Begins with Kay’ and ‘He Went to Jared,’ the diamond industry had already done its most important work before anyone chose a ring. It had written the rules of romance: what love looked like, what it cost, and what it said about someone who spent less. Those rules were not ancient traditions. The industry manufactured not diamonds, but desire. Even in popular culture, Rihanna gave us the song ‘Diamonds.’ The more interesting economic story, however, is not the diamonds in the sky, but the diamonds in the lab. Desire has not gone anywhere. For the first time, it has a better offer.” (07/21/26)
“Novo Nordisk filed a lawsuit against Eli Lilly, alleging that its advertising campaigns for its blockbuster obesity and diabetes drugs are designed to mislead consumers about their superior efficacy relative to the Danish drugmaker’s rival injections. Novo Nordisk is specifically taking issue with nationwide ads that cite what it called ‘outdated’ clinical trials to compare the highest doses of Lilly’s medicines to lower doses of Novo’s drugs. Novo asked the court to permanently stop Lilly from running the ads and require the drugmaker to issue corrective advertising.” (07/21/26)
Source: Ludwig von Mises Institute
by Wanjiru Njoya
“In his book The Vision of the Anointed, Thomas Sowell argues that most people’s political opinions are shaped by ‘a particular set of underlying assumptions about the world—a certain vision of reality.’ By vision, he means an instinctive sense of the correct way of understanding the world and making sense of what we see or hear. The same insight applies to people’s understanding of political labels like libertarian or conservative. We assume we know what a libertarian means by reference to his ideology, or that we know what it means to describe a position as conservative. But often these assumptions owe more to our own vision of the world than they do to the speaker’s intention.” (07/21/26)
“The U.S.-Israel relationship will change after Donald Trump. It may become more transactional, and the U.S. does benefit enormously from its friendship with Israel. Every high-tech company has a research office here, and the U.S. gets all of Israel’s military tech and knowledge. The world is not collapsing, but the relationship may well be changing.” (07/21/26)
“Tropical Storm Bertha is expected to make a Louisiana landfall later this week—possibly Wednesday—before a more disorganized system impacts the Texas Gulf Coast on Friday and Saturday. If that turns out to be true, the biggest impact for Texas could turn out to be low levels of rain from one to four inches. … If Bertha heads to Texas, it will most likely do so as a tropical depression or weaker. That could mean rain for portions of the Texas coast. The 4 a.m. update downgraded that rain chance and mostly erased predicted rainfall south of Victoria. Houston would still get potentially two inches of rain.” (07/21/26)
“President Donald Trump told a prime-time national audience, last week, that the Department of Homeland Security found 278,000 noncitizens on state voter rolls after checking roughly half the states. ‘It’s a number,’ as my old boss says. The Washington Post called it ‘an exaggerated claim that noncitizens are registering to vote en masse.’ No, noncitizens are not really registering to vote so much as being registered — without their knowledge or understanding through deliberate government policy that pretends it’s pro-democracy to throw folks on the voter list who are not legally entitled to vote.” (07/21/26)
