Scholars and policymakers across the ideological spectrum agree that the U.S. drug pricing system is deeply flawed. Most reform proposals focus on one symptom: high prices for existing drugs. But high prices aren’t all that ails the U.S. drug pricing system: Current law also provides weak...

Advisory committees are a ubiquitous yet understudied feature of the administrative state. More than seventy-five thousand experts from outside the federal government serve on over one thousand committees across the executive branch, providing agencies with informed “second opinions” to...

This document is an appendix to "The Marginal Revenue Rule in Cost-Benefit Analysis," Tax Notes (Sept. 10, 2018). In that publication, we proposed a method of performing cost-benefit analysis of tax related-regulations. The approach — which we called the marginal revenue rule — instructs...

Non-tax legal rules regulating the workplace, the financial sector, real property, and many other areas affect the ability of governments to collect revenues and provide public goods. Yet tax-collection considerations rarely enter into economic analyses of non-tax legal rules. Usually,...

A “self-coup”—or “autogolpe”—is the sudden seizure of power by a President or other chief executive in contravention of a nation’s laws. Although the term “self-coup” is relatively new, the phenomenon was familiar to the Framers, who made references at the Constitutional...

Three transfer tax minimization mechanisms—zeroed-out grantor retained annuity trusts (GRATs), intentionally defective grantor trusts (IDGTs), and family-controlled entities with steep valuation discounts—significantly shrink the federal estate and gift tax base. This white paper explains...

The equality-equity dilemma in cost-benefit analysis arises when regulators seek to advance distributional objectives through lifesaving rules. The “equality” side of the equality-equity dilemma refers to the federal regulatory practice of using an equal-dollar “value of a statistical...

The conventional explanation for controversy over climate change emphasizes impediments to public understanding: Limited popular knowledge of science, the inability of ordinary citizens to assess technical information, and the resulting widespread use of unreliable cognitive heuristics to assess...

Many scholars have wrestled with what I call the “first-order question” in patent law: What policies should we adopt to promote innovation? This article grapples with the second-order question: What policies should we adopt to promote innovation about promoting innovation? I argue that...