As the European Central Bank begins making decisions, Hoover fellow John B. Taylor asserts, “a clear guideline, or policy rule, would go a long way toward . . . increasing economic stability throughout the globe.” Taylor modestly suggests . . . the Taylor Rule.

Plant, equipment, inventory—traditional accounting methods can cope with these. But intellectual capital? That poses a problem. Michael S. Malone explains the need for accounting techniques as new as the information age itself.

With polls showing that the British public still harbors reservations about membership in the European Union, Hoover fellow Arnold Beichman makes a suggestion. Why doesn’t Britain simply drop out of the European Union, joining the North American Free Trade Agreement instead?