Austerity measures in Europe have been the topic of a heated and mostly confused debate in the economic world. During the May summit of the leading industrial nations at Camp David, German chancellor Angela Merkel and other European leaders pushed for continued European austerity. Keynesian critics argue that these policies destroy economic growth.

 It’s time for policymakers to man up about the fact that the missions heaped upon the military are growing as they pour resources into handouts for bad mortgages, unemployment and other entitlements. Those who pay most dearly wear the uniform. They will not be able to keep it up much longer. And we won’t be the America we think we are anymore.

If Americans prefer smaller government, why does it continue to grow?

Philip G. Pardey of the University of Minnesota will explain why investment in R&D is so important for increasing agricultural productivity and keeping food prices low.

On the third anniversary of the collapse of Lehman Brothers, the U.S. economy continues to disappoint, and the U.S. labor market has hardly made any progress at all.

The European Union (EU) has announced plans to levy a tax on airline emissions for all planes landing and taking off from EU airports. This tax would be calculated not only based on mileage flown in EU airspace but also for the entire length of the flight (thus, Chinese and Japanese airlines would be taxed for an entire journey from Beijing or Tokyo).