![Media Name: cato-journal-v31n1.jpg](/sites/cato.org/files/styles/serial_cover_phone/public/serials/covers/cato-journal/cato-journal-v31n1.jpg?itok=0k707FA4) 

# Winter 2011 

Vol. 31 No. 1 

J.R. Clark and Dwight R. Lee on markets and morality; D. Eric Schansberg on a free market in health care; Claudio D. Shikida, Ari Francisco de Araujo Jr., and Pedro H. C. Sant'Anna on why some states fail; and more...

##### Articles 

#### [Markets and Morality ](/cato-journal/winter-2011/markets-morality)

By Dwight R. Lee and J. R. Clark 

#### [Envisioning a Free Market in Health Care ](/cato-journal/winter-2011/envisioning-free-market-health-care)

By D. Eric Schansberg 

#### [Why Some States Fail: The Role of Culture? ](/cato-journal/winter-2011/why-some-states-fail-role-culture)

By Claudio D. Shikida, Ari Francisco de Araujo Jr., and Pedro H. C. Sant’Anna 

#### [Giving Up on Foreign Aid? ](/cato-journal/winter-2011/giving-foreign-aid)

By Gustav Ranis 

#### [What Aid Can’t Do: Reply to Ranis ](/cato-journal/winter-2011/what-aid-cant-do-reply-ranis)

By David B. Skarbek and Peter T. Leeson 

#### [An Austrian Rehabilitation of the Phillips Curve ](/cato-journal/winter-2011/austrian-rehabilitation-phillips-curve)

By Robert F. Mulligan 

#### [Deposit Insurance and Banking Stability ](/cato-journal/winter-2011/deposit-insurance-banking-stability)

By Kam Hon Chu 

#### [An Analysis of the Financial Services Bailout Vote ](/cato-journal/winter-2011/analysis-financial-services-bailout-vote)

By Jim F. Couch, Mark D. Foster, David L. Black, & Keith Malone 

#### [Restructuring the U.S. Postal Service ](/cato-journal/winter-2011/restructuring-us-postal-service)

By Robert Carbaugh and Thomas Tenerelli 

##### Book Review 

##### [*This Time Is Different: Eight Centuries of Financial Folly* by Carmen M. Reinhart and Kenneth S. Rogoff](/cato-journal/winter-2011/time-different-eight-centuries-financial-folly-carmen-m-reinhart-kenneth-s)

By Kurt Schuler 

##### [*Afghanistan: A Cultural and Political History* by Thomas Barfield](/cato-journal/winter-2011/afghanistan-cultural-political-history-thomas-barfield)

By [Malou Innocent](https://www.cato.org/people/malou-innocent) 

##### [*The Ideological Origins of American Federalism* by Alison LaCroix](/cato-journal/winter-2011/ideological-origins-american-federalism-alison-lacroix)

By [Ilya Somin](https://www.cato.org/people/ilya-somin) 

##### [*The Economics of Microfinance* by Beatriz Armendariz and Jonathan Morduch](/cato-journal/winter-2011/economics-microfinance-beatriz-armendariz-jonathan-morduch)

By Bryan Barnett 

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