The Case Against Milton Friedman's Capitalism
The free market is a theoretical fiction, with enormous social costs.
Free Market
The Evolution of Mardi Gras Rituals
In this 'Wonks Gone Wild,' researchers say the hierarchical role-playing in Mardi Gras parades gave way to a free marketplace for beads, which included 'negotiated transactions.'
Rethinking Government's Role in the Financial System
How do we protect the markets from their own overexuberance? By signaling that future failures won't get government bailouts.