David Leonhardt attributes the following thought to Larry Summers: "any system that created the Mexican peso crisis, the Asian financial crisis and the current troubles needs to be changed." I couldn't agree more. But I also cannot help but recall that at the time of the Mexican and Asian crise...

The best definition of property rights is the one developed by Grossman, Hart, and Moore, which says that ownership of an asset implies residual control rights--the right to do with the asset as you please subject to restrictions you may have already accepted via a prior contract. Similarly, we ...

Want to know how much CO2 is emitted by the power plant across town, and how it compares to the one in the city you are planning to move? The Center for Global Development has just launched a web site that will tell you exactly that. In fact, the site has emissions data for every single power p...