Top economists provide much-needed guidance--and some surprising conclusions--in response to rising public concerns about inequality in the U.S. tax system.

In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are "like the...

Top economists provide much-needed guidance--and some surprising conclusions--in response to rising public concerns about inequality in the U.S. tax system.