If the economic incentives that drive spending growth are not addressed, any savings gained through Barack Obama's proposed reforms will disappear.

Free trade is alive and well among economists.

“New Blueprints for the Left,” sighs a contented Newsweek headline over a story about Robert Kuttner’s The End of Laissez-Faire: National Purpose and the Global Economy After the Cold War1 and Robert B. Reich’s The Work of Nations: Preparing Ourselves for 21st-Century Capitalism.

Without Bayer"s investment in Cipro, the world"s medicine cabinets, in fact, would be bare--and the population would be bare to bioterrorism.

Bhagwati takes on those who argue that economists are now split on free trade.

Free-trade critics bring nothing to the table. They do not have a constructive agenda to remedy the problems they see.

Markets have soared in recent weeks, in part because of a sequence of good inflation reports. But the market may be rejoicing prematurely. Recent statements by Alan Greenspan suggest the Federal Reserve may increase rates again this week.

Mr. Greenspan has even come out with a new argument for...

The publication of Dow 36,000 has caused such a stir that it has at times seemed as if coauthor James K. Glassman and I had written another Bell Curve.