Globalization is knitting separate national economies into a single world economy. That is occurring as a result of rising trade and investment flows, greater labor mobility, and rapid transfers of technology. As economic integration increases, individuals and businesses gain greater freedom to...

The term quot;midnight regulationsquot; describes the dramatic spike in new regulations promulgated at the end of presidential terms, especially during transitions to an administration of the opposite party. While widely acknowledged as problematic due to lessened presidential accountability...

Even if one is sympathetic to the idea of helping industries in times of crisis, the critical question to ask is, Are there more effective ways to resolve a company's financial problems than a taxpayer-funded bailout?While the airline industry is always fast to request a bailout, such a bailout...

In relation to an evolving labor market, the main focus of this paper is to examine whether the traditional model of higher education is effectively matching graduate skills to labor market demand. In light of a growing student debt burden and proposals for significant expansions in higher...

A growing number of state governors are voicing concern about the damage inflicted on their states' budgets—on both the revenue and the expenditure sides—by the COVID-19 pandemic. The situation is particularly dire for the many states that entered the current crisis with “preexisting...

Proposals for raising the maximum statutory tax rate to 70 percent, with dual objectives of generating additional revenue for new spending and curtailing inequality, are gaining attention among both academics and media commentators. While the idea might be superficially attractive, there is...

This policy brief will assess the underlying problems with the United States' budgetary process and the issues that arise as a result of the country's current fiscal trajectory. We explore the role that spending rules play in restraining the growth of government spending wherever they are...

In light of these proposals, one of which would increase federal aid funding by $100 billion over 10 years, we review the current state of affairs in higher education, the impact that increased federal aid has had so far, and whether more federal aid is the correct treatment for the problem of...

This policy brief will focus on the underlying causes of declining discretion in policy-making: specifically, the unsustainable growth of mandatory spending programs rooted in a rapidly aging population. We will discuss how this phenomenon will lead effectively to the end of policy-making in a...

Over the past three decades, more than a dozen developed nations have abandoned their wealth taxes. Yet the United States today finds itself in the midst of a political debate about implementing a wealth tax to partially fund the spending commitments of progressive presidential hopefuls. The...