The genetics revolution poses challenges to the way that the FDA and patent system influence medical research. Prize-grants could be better suited to providing incentives for the sort of research becoming valuable.
States are inhibiting educational entrepreneurship; Congress should step in and provide funding to states to facilitate further charter school growth.
GDP statistics lead us to take an overly pessimistic view of the economy. There is no Great Stagnation. There is only a widening gap between the rate of economic improvement and our ability to measure that improvement.
If we compare countries around the world, what factors are generally associated with good governance and what factors are associated with bad governance?
Entrepreneurs have to implement through consent and prove their ideas in the marketplace. In contrast, the administration lacks the patience and pluck the free market demands and wants instead to introduce reform via dictate.
Calculating trends in the real wage is much harder than we realize, because every household has different tastes. Such an exercise is misleading at best and meaningless at worst.
Wall Street investment banks and mortgage bankers seem poised to get what they want in housing finance reform – at the expense of taxpayers.
George Gilder’s vision of data-driven capitalism has much to recommend it, but caution is warranted.
Progressives, conservatives, and libertarians each have a mythology in which they are the heroes and the other tribes are villains. Partisans of these three ideologies even speak different languages.
An illustration of the impact of financial regulation on capital allocation is the extent to which the world's savings have been attracted to long-term instruments with low yields.
It’s unlikely that banks and government can be disentangled, but a healthier relationship could begin with a new approach to credit guarantees.
A closer look at bank leverage.
Longevity is the wrong characteristic to reward in the case of government workers.
As the old song goes, after 16 tons of Keynesian economics, all we have to show for it is that we are deeper in debt.
Recourse mortgages with significant down payments will stabilize the housing market, prevent speculative bubbles from forming, and limit taxpayer risk.
November 6 was an electoral setback dealt to those of us who believe in capitalism and limited government. What can we learn from Churchill, who was no stranger to setbacks?
One would not be troubled by the 30-year fixed-rate mortgage if it were an emergent property of free markets. But it is not.
Is federal debt really nothing more than money ‘we owe to ourselves’? No. It frays the political fabric, and we are feeling its effects already.
If policymakers truly want to make things better for home buyers, they should look for ways to streamline and modernize the housing transaction itself.
Home ownership subsidies have imposed costs that are large and clear. The benefits of such subsidies are, at best, small and vague.