In 2001-02 the United States has been hit by two quite different shocks, terrorism and recession. As usual in time of war, national defense is the highest priority for use of the country's resources. Although the opportunities for international warfare are limited, the challenges to the homeland...

In 2001-02 the United States has been hit by two quite different shocks, terrorism and recession. As usual in time of war, national defense is the highest priority for use of the country's resources. Although the opportunities for international warfare are limited, the challenges to the homeland...

President George W. Bush is preparing a drastic permanent reduction in federal income and estate taxes. He cites as precedents tax cuts by Kennedy-Johnson 1962-64 and Reagan 1981. In those cases, however, the economy was operating well below full employment and needed a "demand-side" stimulus...

Finanzstruktur und geldpolitische Regeln Die Struktur des amerikanischen Bankwesens und Finanzsystems ist wegen neuer Technologien, institutioneller Innovationen und Deregulierungen einem schnellen und grundlegenden Wandel unterworfen. Insbesondere werden gesetzlich verordnete Zinsobergrenzen...

Several noted economists briefly pay tribute to recently deceased Keynesian economist Dudley Dillard.