May 2025 | Volume 54, Issue 5

Tariffs in American History
John Steele Gordon
Author, An Empire of Wealth: The Epic History of American Economic Power

The following is adapted from a lecture delivered in Washington, D.C., on May 6, 2025, as part of the AWC Family Foundation Lecture Series. Sponsored by Hillsdale College’s Allan P. Kirby, Jr. Center for Constitutional Studies and Citizenship, which is undergoing extensive expansion and renovation, the lecture was delivered in The Heritage Foundation’s Van Andel–Gaby Center.

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March/April 2025 | Volume 54, Issue 3/4

New Thinking Needed on National Defense
Stephen Bryen
Senior Correspondent, Asia Times

The following is adapted from a lecture prepared for delivery at a Hillsdale College National Leadership Seminar in Kansas City, Missouri.

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February 2025 | Volume 54, Issue 2

Restoring American Culture
Roger Kimball
Editor, The New Criterion

The following is adapted from a talk delivered on January 29, 2025, at Hillsdale College’s Blake Center for Faith and Freedom in Somers, Connecticut.

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January 2025 | Volume 54, Issue 1

What We Know and What We Don’t About January 6
John Daniel Davidson
Senior Editor, The Federalist

The following is adapted from a talk delivered at a Hillsdale College luncheon in Anchorage, Alaska, on January 22, 2025.

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December 2024 | Volume 53, Issue 12

Religious Liberty and the Genius of the American Founding
Glenn Ellmers
Author, The Soul of Politics: Harry V. Jaffa and the Fight for America

The following is adapted from a talk delivered at Hillsdale College on September 29, 2024, during a conference on “Christianity in America.”

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November 2024 | Volume 53, Issue 11

Drain the Swamp
Larry P. Arnn
President, Hillsdale College

The following is adapted from remarks delivered on November 19, 2024, at a Hillsdale College reception in San Diego, California.

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OCTOBER 2024 | VOLUME 53, ISSUE 10
Populist Conservatism and Constitutional Order
Kevin D. Roberts
President, The Heritage Foundation

The following is adapted from a talk delivered in Christ Chapel at Hillsdale College on October 23, 2024, as part of the Drummond Lectures in Christ Chapel series.

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SEPTEMBER 2024 | VOLUME 53, ISSUE 9
The Dangers of Price Controls
Henry Hazlitt and Brian Wesbury

The first issue of Imprimis, published in May 1972, featured an article titled “The Dangers of Price Controls” by Henry Hazlitt. The Federal Reserve back then was printing large amounts of money to fund massive government spending on Great Society programs launched during the presidency of Lyndon Johnson. As a result of printing so much money, the U.S. economy was suffering from rapid inflation. To address inflation, Federal Reserve Chair Arthur Burns and the Nixon administration dreamed up wage and price controls.

Today we face a similar situation. The Federal Reserve has been printing a lot of money to fund the huge expansion in the size and scope of government that took place during and after the Covid pandemic. In response to the resulting inflation and the political unrest that comes with it, Vice President Harris and others are promising to outlaw “price gouging”—in other words, to impose price controls—which will eventually lead to wage controls as well, since production and prices involve both in an intimate way.

Because economic truth remains the same today as it was 52 years ago, we are reprinting Henry Hazlitt’s article from 1972, but with edits and updates by Brian Wesbury that bring Hazlitt’s classic piece into today’s world.

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