For more than 70 years, a strand of Keynesian thought has maintained that the cure for economic depressions is merely a matter of simple arithmetic. According to these Keynesians, the government need only increase spending by an amount equal to the ratio of the output gap to the fiscal...

Medicaid was established in 1965 as a joint state and federal program to provide medical insurance to Americans who are poor and have disabilities, and it has grown from 1percent to 3 percent of GDP. The source of Medicaid s growth over the past 50 years must inform efforts to reform the program...

Desire for mastery is an important human motive distinct from the profit motive. In business, mastery involves a product or service, and validation occurs through comparison with other entrepreneurs' products. Consumers' choices validate entrepreneurs' performance. We term an entrepreneur's...