Demonstrates how ideas in economics have shaped business decisions and models, as well as government policies. Discusses the pace of future innovation, how economists think about the world, and the role and importance of markets and their limits.

This paper uses the standard economic framework for designing government regulations to evaluate the Federal Reserve Board's proposed cost-based price caps for debit card interchange fees. We argue that the Board has not prepared an economically sound diagnosis of the problem that it is trying...

In this study, we analyze the consumer welfare implications of regulating Rent-to-Own (RTO) transactions. We conclude that the benefits and costs of mandatory disclosure and labeling regulations currently imposed by most states are likely small, and that the effects of imposing a Federal...

Is the internet a big deal? -- Why productivity is so important -- Productivity and the internet: what lies ahead? -- Benefits of the Internet that may not show up in the gdp -- Realizing the Internet's potential -- Concluding thoughts