The U.S. structure for collective investment, in which individual corporations hire outside investment advisers, is unusual among developed economies. Most other industrialized nations use structures based on a direct contractual relationship between the fund manager and the investor. In such structures, there is no intervening corporation, but there are...

Who you compare yourself with says a lot about who you want to be. A common talking point from the Left regarding the generosity of Social Security benefits isn't entirely honest, but more important, it's indicative of the broader views of American liberals.

The deeper problem is that no version of a fiscal union can save Europe or the euro. The principal authority for this proposition is Alexander Hamilton.

It is old news that the S&P rating agency downgraded the US foreign-credit rating from the coveted AAA to the less impressive AA+ on August 5. But as Republicans look ahead to the possibility that they might defeat Obama, they will inevitably seek ways to recover the exalted AAA status. If history is any guide, repairing the damage done to the U.S. bond rating will be a long, hard slog.

The Lehman bankruptcy shows how a territorial system can destroy value and create arbitrary and unnecessary risks and losses for creditors, problems which could have been avoided with a Debtor Selection System.

Newt Gingrich's Pearl Harbor: A Novel of December 8 and William S. Cohen's Dragon Fire are good summer reads.

At the end of January, the Council of the European Union (the main decision-making body of the European Union or EU) suspended diplomatic sanctions against Cuba and decided to resume high-level relations with the Castro government, thus ending its long-held policy to speak only with Cuban dissidents. Are these changes...

Changing horses midstream is generally a risky proposition. Trying to do so in the midst of the eurozone debt crisis, where the economic and political stakes could not be higher, could prove especially hazardous. It will be even more so if careful thought is not given to the ramifications of the partial debt restructuring proposals that are now being happily bandied about.