The 1990s economic performance of the US suggests that the country may have the right mix of institutions and policies to be the peak capitalist economy in the new information economy. This paper develops criterion for judging peak status and examines whether the US fulfills these criterion. The...

A large empirical literature documents a rise in wage inequality in the American economy. It is silent on whether the increase in inequality is due to greater heterogeneity in the components of earnings that are predictable by agents or whether it is due to greater uncertainty faced by agents....

Many American policy analysts point to Denmark as a model welfare state with low levels of income inequality and high levels of income mobility across generations. It has in place many social policies now advocated for adoption in the U.S. Despite generous Danish social policies, family...