The Cold War is an increasingly distant memory in American military minds, except in the minds of the arms control community, and in particular those who seek the elimination of nuclear weapons. Alas, our president is a member in good standing of this community—indeed, an organizer.So, too, it...

Before the dominance of rating agencies, investment banks had the responsibility for signaling sovereign creditworthiness by supporting after-issuance market-making in that debt.

Of all large European nations, France is the country where political leaders are most vocally opposed to capitalism and globalization--at least in theory.

Tax hikes on private equity firms will hurt the ordinary investor most.

Review of Kenneth M. Pollack'sThe Persian Puzzle: The Conflict Between Iran and America and David Harris's The Crisis; The President, the Prophet, and the Shah.

The Bush administration should stop tiptoeing around the Chinese exchange rate issue and start putting real pressure on China to move toward a more flexible exchange rate system.

The puzzle of underissuance of national bank notes disappears when one disaggregates data, takes account of regulatory limits, and considers differences in opportunity costs.

The puzzle of underissuance of national bank notes disappears when one disaggregates data, takes account of regulatory limits, and considers differences in opportunity costs.