Testimony before the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises regarding American ingenuity and global competitiveness in the 21st century.

Recent events suggest the G-20 may not matter at all, especially as it faces the first real test of its power.

The fall meeting of the World Bank and International Monetary Fund held hopes of constructive, multilateral dialogue to defuse the currency wars, but did not provide decisive results.

While the intent of theSarbanes-Oxley Actwas to prevent corporate fraud, there is growing evidence that it has done more harm than good.

The imbalance in global trade, as China has a surplus and the United States has a deficit, may matter little economically, but the political situation may be more dire, as the world seems to be marching towards a trade war.

The Tea Party movement should be inspired by Britain, where leaders unveiled an emergency budget that includes 25 percent cuts in government spending and the lack of popular backlash shows that bipartisan efforts toward fiscal responsibility are important to voters.

The key to American prosperity, according to a new AEI book, is increased competition and open markets.

Congress is close to passing an extensive financial services bill that began as an attempt to punish Wall Street but has morphed into a bill that hurts everyone, as it restricts the wealth creation of the financial markets.