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Posted on May 15th, 2012
For decades U.S. housing policy has focused on promoting homeownership. This study shows that the set of policies designed to further homeownership has been ineffective and expensive and that homeownership as a public policy goal is not well supported. The author documents that homeownership rates have remained roughly constant over the past 40 years. [...] Posted on March 13th, 2012
The current narrative regarding the 2008 systemic financial system collapse is that numerous seemingly unrelated events occurred in unregulated or underregulated markets, requiring widespread bailouts of actors across the financial spectrum, from mortgage borrowers to investors in money market funds. The Financial Crisis Inquiry Commission, created by the U.S. Congress to investigate the [...] Posted on February 20th, 2012
Opponents of allowing younger workers to privately invest a portion of their Social Security taxes through personal accounts have long pointed to the supposed riskiness of private investment. The volatility of private capital markets over the past several years, and especially recent declines in the stock market, have seemed to bolster their argument. [...] Posted on February 5th, 2012
Over the past few years, the Federal Reserve has acquired an increasingly powerful position in both the U.S. and global economies, raising many critical questions. What is the best way to reform the global fiat money system? What monetary policies are needed to create a “free banking” regime? What are the limits of [...] Posted on December 8th, 2011
More than 40 years ago, Sen. William Proxmire (D-WI) guided the Fair Credit Reporting Act (FCRA) through Congress, seeking to improve the operations of the credit reporting industry. The complexities and tensions in a reputation system like credit reporting are formidable, however, and the FCRA has not satisfied consumer group demands for accurate, [...] 4 pages
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