This paper offers a perspective on paying for and investing in the transportation infrastructure. The following example illustrates the need to move away from the current national mind set. Pick any pothole-laden, congested two-lane road in an urban area. Suppose public funds are used to widen...

This paper develops a framework to analyze the long-run adjustment of U.S. industries to economic deregulation, highlighting the role of intensified competition, innovations in operations, marketing, and technology, and adjustments to external shocks. The author applies this framework to...

This paper reviews the literature and assesses the effects of antitrust policy and enforcement on consumer welfare. We find no evidence that antitrust policy in the areas of monopolization, collusion, and mergers has provided much benefit to consumers and, in some instances, we find evidence...