Talking heads on “financial” TV channels have always provided “infotainment” — information so blended with entertainment that you couldn’t tell where one stopped and the other ...

Paul Volcker’s critique of 2% inflation targets in his recent memoir spurred me to write this oped just published in the Wall Street Journal. Volcker focuses on the economic hazards of the targets; I question ...

The WSJ op-ed reflects my ingrained First Amendment-absolutism: fake news will always be with us and any remedy is likely to make things worse. (Yes, I did recently suggest corralling infopolists’ assaults on ...

I am viscerally skeptical about expanding state power but recognize that technological advances do often require new rules: Automobiles required brake inspections and traffic police for instance. Similarly, I argue ...

This article in many ways, is the “debt” counterpart to my 1993 Journal of Financial Economics piece and offers an even broader critique of the reflexive belief that more complete financial markets are ...