Tuition, in real terms and across American universities, has roughly tripled over the past four decades. Through a review of the literature and the collection of basic data, we find support for the theory that the increases in federal financial support (loans and grants) for students have led to...

Some states and municipalities are in difficult financial straits. Many more have severely underfunded defined benefit pension plans for their past and current employees. At the intersection of these two sets, it is likely that the pension plans are not sustainable and cuts are inevitable,...

This essay is a comprehensive and critical review of Thomas Piketty s Capital in the Twenty-First Century. It follows the flow of Piketty s argument carefully and literally and notes his many assertions that are unsupported or contradicted by economic logic and empirical evidence, particularly...