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Can Obama Punt Keystone into 2016?

The proposed Keystone XL oil pipeline has taken more than five years to approve and Washington bureaucracy will likely delay it for months if not years to come, at the expense of real, market-driven job creation.

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The Efficiency of a Carbon Tax: Broadly Accepted and Broadly Wrong

The standard assumption about the superior efficiency of a carbon tax relative to bans and energy consumption standards is deeply problematic for both scientific and political reasons.

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California’s Chicken Law and the Commerce Clause

The country is awash in legislative efforts to increase regulation of agriculture, but only California has had the chutzpah to impose the preferences of that state’s voters on the rest of the country.

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Europe’s Outlook in 2014

With European policymakers complacent, it is unlikely that progress will be made this year in reducing Europe’s record unemployment rate or in preventing a further fragmentation of its politics.

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The End of the Art of the Turnaround

The road back for a broken company has always been long and hard. But today it is longer and harder than ever. What’s needed is serious regulatory relief and some very big, very long overdue tort reform.

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Geithner’s View from the Top of the Bubble

What a careful, informed, balanced, and intelligent discussion of risk management tells us about the high price of extreme risk.

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Facebook and the Importance of Being Unimportant

Many companies make things you'd never discuss at a cocktail party, yet are indispensable for other things that you would.

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Fearful Symmetry: Six Decades of Treasury Yields

Interest rates in the market for U.S. Treasury debt display surprising behavior—behavior that previous market participants considered simply impossible.

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How to Think about Private Equity

If the overall pattern is so positive—for investors, companies, and even employment—why is private equity so controversial?

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Austerity America

Britain has begun to make the United States appear, by contrast, a nostalgic bastion of unchanging political custom and ideological continuity.

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The Federal Reserve’s Real Mandates

The Federal Reserve has a 'triple mandate.' Grasping this allows us to understand why the Fed, while not doing so well at stabilizing prices or maximizing employment, has nonetheless gained ever greater power and status.

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The Feds as Stock Speculators

What the government should do with its large stock portfolio.

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Greece’s Unhappy Anniversary

One year after having received a $150 billion bailout package from the International Monetary Fund and European Union, Greece is back at the public trough asking European taxpayers for another bailout package.

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Will 1970s Haircuts Ever Come Back into Style?

We have a lot to learn from Gerald Ford’s response to New York City’s fiscal crisis.

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On Green Energy: Plainly Not Helping Spain

For Spaniards, renewable energy has gotten old.

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Please Actually Read My Research

Galen Institute founder Grace-Marie Turner’s recent opinion piece on the Medicaid drug program is deeply misguided.

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The Fed vs. the FDIC on Lehman’s Failure

A recent FDIC report on Lehman Brothers’s financial condition before its failure puts in doubt the Federal Reserve’s account of its decision- making, and raises significant questions about the nature of the financial crisis.

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Green Energy: Don’t Envy Germany

Germany’s promotion of renewable energies is commonly portrayed as setting a standard for the rest of the world. It is instead a cautionary tale.

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Pride and Prejudice: Contrarian Speculation on Wall Street’s Future

Why Larry Summers’s experience on Wall Street is cause for hope.

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Drugs: The Price Is Right

AARP continues to mislead the public about the true trend and nature of pharmaceutical prices by maintaining a narrow view of the market.

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