The real name of the Dodd-Frank Act should be the "Faith in Bureaucracy Act." This is a faith I do not share. I see no evidence that the human minds operating in regulatory bureaucracies, and driven to political defense and expansion of their own jurisdiction and power, have any superior insight into the unknowable future and its ineradicable uncertainty.

Learning to understand images as we do language is one of the great unsolved problems of modern intellectual life. Computer science helps because recursion helps.

Economics and finance might be science, if it were not for people.

Ratings agency systems should promote a wealth of information and opinion about price and value.

How effective is bond-based housing finance?

By developing mortgage and bond markets together, can they potentially reinforce each other?

The Federal Accounting Standards Board has tried to make accounting into an exact science. It has failed, and will never succeed.

This paper examines issues related to using experimental designs in evaluations of sex education and abstinence programs for teenagers.