Hope springs eternal among policy makers in Europe’s beleaguered periphery. At five minutes to midnight in Athens, and with a bank run having started in Madrid, these policy makers cling to the forlorn hope that somehow Germany is going to relent on its strong opposition to euro bonds.

Attempts at austerity and deleveraging in Europe have converted an economic problem into a political dilemma, with leftist governments rising against Germany's austerity-laced rescue packages. Germany now faces a tough economic decision that will involve choosing between a breakup of the current euro system and a movement toward a common fiscal policy in Europe.

At this AEI event, panelists will discuss the practical potential and wisdom of further changes to patent law designed to promote innovation and entrepreneurial vigor in the United States.

The subordinated debt issued by Fannie Mae and Freddie Macis notcredibly unprotected and of sufficient size.

Despite great handwringing over America's anemic job creation, the president demonstrates little understanding of the damage his policies are doing to millions of unemployed American desperate to find work.

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

What does 2012 hold, both in terms of policy and politics, for the developing relationship between public-sector workers and taxpayers? What does a proactive reform agenda for 2012 look like? Is a pro-reform platform a winning issue for reformers or their opponents? This event will address these and other questions in two panel discussions.

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