The extraordinary power given to regulators--and particularly the Federal Reserve--is likely to change the nature of the U.S. financial system.

Obama and his team seem sharply opposed to the view that creative destruction is a valuable economic force.

An interview with Thomas K. McCraw on Schumpeter's work and influence.

Far too much has been made of the presumed religious fanaticism of our Middle Eastern enemies.

Scott Gottlieb reviews Eric Topol's book on how medical innovation will coalesce to change clinical practice and what the coming changes mean for today's policy debates.

Governor Romney's defenders have argued that critics of his role at Bain Capital are really attacking capitalism itself. Given the academic evidence, we would have to agree.

Getting into a contest with President Obama over who is a better friend of business is not the winner some might think. The water will get very muddy very quickly if Romney campaigns on who is business' BFF, especially when you consider that one of the things Romney did at Bain Capital was take businesses apart.

In light of recent attacks on Governor Mitt Romney’s record at Bain Capital, American Enterprise Institute (AEI) director of economic policy studies Kevin Hassett and economist Steven Davis examine in their recently published piece what is private equity, its impact on jobs, and its role in the American economy.