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The rapid growth of sovereign wealth funds (SWFs) in the last few years has important theoretical implications for scholarly debates concerning the political economy of global finance. It signals a re...
Since the early 1870s, when John D. Rockefeller began assembling Standard Oil of New Jersey, the large, usually American-owned and -managed, oil companies have been the most famous and controversial...
As the gains from privatization necessarily increase with the density ofusage ofthe commons, it is quite natural that wefind the movement to privatize public land holdings emerging, Privatization is...
I would like to begin on a personal note, in part to expiate past sins of omission, partly to allow me to illustrate a major theme of this paper.
Introduction Continual and significant price inflation has characterized the health care sector of the United States since the 1960s. In turn, the rising medical priceshave contributed to increased...
The Trend toward Competition This paper discusses the feasibility of replacing regulation or state ownership with market competition in electric power generation. Interest in competitive electricit...
Free trade advocates face more than just the constant challenge of reminding the public and policymakers of the virtues of open global markets. They also confront theoretical and practical questions...
Freedom canbe preserved only ifit is treated as a supreme principle which must not be sacrificed for any particular advantage. —F. A. Hayek
Many libertarians—or, as people from the other side of the Atlantic would call them, “classical liberals”—hope that the combination of the globalization of finance with the onset of new technologies...
China’s Illusion Since 1978, China has embarked on a dramatic reform effort to create a modern economy and to increase the standard of living for the Chinese people. Much progress has been made b...
Ownership, Growth, and Stability The Bush administration’s emerging market strategy is an interrelated part of our overall international economic agenda. The agenda focuses on two goals: increasing...
Merits and Demerits of International Investment Ideally, resources saved from producing for current consumption are invested where they will create the most value, whether at home or abroad. Savers...
For the past four centuries, emerging market debt crises have broken out like clockwork. In the early period, it was the European countries—the emerging markets of that era—that did the defaulting, ...

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