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Vol. 1
Edited by Jeffrey Miron
  • Can the Treasury Exempt Its Own Companies from Tax? The $45 Billion General Motors Net Operating Loss Carryforward
    How the U.S. Treasury used arcane provisions of the tax code to manufacture a tax break for political supporters during the bailout of General Motors, masking the true cost of the bailouts of GM and other firms.
  • Free to Punish? The American Dream and Harsh Treatment of Criminals
    In comparison to many penal systems in the rest of the world, Americans are much harsher in their treatment of criminals. This article looks at the causes, revealing how the American Dream may be to blame.
  • Competition and Innovation
    Compelling analysis of how patents that are easily assigned and strictly enforced for a long period of time do not promote innovation, but instead impede it.
  • Labor Market Dysfunction during the Great Recession
    The impact of mortgage modifications on the labor market recovery, showing that reductions in mortgage payments based on borrowers’ current income skews incentives for households to relocate to a stronger labor market and lowers both employment and productivity.