While flooding is a fact of life, studies show that humans are poor at evaluating the risk of flooding and insuring themselves against potential losses.

Pakistan's historic flooding has undone months of intense counterinsurgency efforts and allowed militant Islamist groups to burnish their image.

The Treasury Department and the Federal Reserve have been running what feels like a scam.

The primary drivers of our growing debt burden are the “Big 3” entitlements of Social Security, Medicare and Medicaid. Yet as part of the debt ceiling deal that created sequestration when the Super Committee failed, politicians effectively fenced off nearly two-thirds of the federal budget and the main source of our over-spending. 

The banking industry suffered credit crises in the 1970s, 1980s, 1990s, and 2000s. An unavoidable conclusion is that its loan loss reserves were in all cases too small. 

With Europe collapsing, China stumbling, and India and Brazil retreating from full free market reform, we’re the last stable, pro-growth economy left.  

The number of schools ranked highly in guides such as Barron's Profiles of American Colleges is increasing, without any evidence that these schools' instructional quality is also increasing. Applicants and their families should be wary of letting these rankings serve as the main criteria in their college decisions.

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Economic events in recent months have underscored the large role that the federal government plays as both an explicit and implicit insurer of a wide range of economic activities. For everything from terrorism, crops, floods, and natural catastrophes, to...