Hoover fellow Kenneth L. Judd believes that income inequality in the United States has been growing for two decades—and argues that we ain't seen nothin' yet. Why the gap will widen—and what can be done about it.
Western Europe recovered from the Third Reich with astonishing speed. Yet Russia and much of Eastern Europe are now engaged in a long, slow struggle to recover from communism. What accounts for the difference? A final essay by the late Hoover fellow Lewis H. Gann.
Over several centuries, England developed free markets-and a large cast of supporting institutions, including private property and an independent judiciary. During the same period, Spain failed to develop any such institutions, enduring economic stagnation instead. Why? It all started with some kings and queens who were short of funds. Nobel Prize-winner and Hoover fellow Douglass C. North explains.