Is the theory of money that underlies most modern macroeconomics well-grounded? What determines the value of a currency, and how is the state’s power over its currency related to its ability to stabilize prices and employment? Charles Goodhart’s classic paper ‘The Two Concepts of Money:...

Twenty to 25 years ago, a debate was under way in academe and in the popular press over the War on Poverty. One group of scholars argued that the war, initiated by Presidents Kennedy and Johnson, had been lost, owing to the inherent ineffectiveness of government welfare programs. Charles Murray...

Twenty to 25 years ago, a debate was under way in academe and in the popular press over the War on Poverty. One group of scholars argued that the war, initiated by Presidents Kennedy and Johnson, had been lost, owing to the inherent ineffectiveness of government welfare programs. Charles Murray...