A critical look at the past and present of industrial policy shows that its recent popularity is not only misguided, but is likely to have negative economic and geopolitical consequences for the Unit…

Relentlessly falling inflation is bad news for Eurozone banks.  It increases the real (inflation-adjusted) value of borrower debt and the real cost of servicing that debt.  It causes loan defaults…

Fed Chairman Ben Bernanke defended QE3 at his September 13 press conference by arguing that it would lower mortgage rates and increase home prices.  Over 80% of U.S. household debt is mortgage deb…

Until the economic crisis, many praised the U.S. model of flexible labor markets for promoting faster growth and low unemployment. But flexibility has a cost: the United States is leading the G7 in…

Fitch Ratings downgrade of Greek government debt has raised concerns about sovereign default risk. Within the Eurozone these concerns are particularly relevant because countries cannot print money …