From the Cover

The Clearinghouse Cure

Would this proposed reform provide the silver bullet for
systemic risk?

Reforming Freddie and Fannie

If policymakers will not fully privatize the GSEs, then they
should spin off their retained portfolios.


Natural Resources

Warming Up to Water Markets

Will global warming force us to adopt sensible resource


Of Patents and Property

With some important exceptions, empirical evidence suggests
patent protection reduces innovation.

Corporate Governance

Reshaping the Playing Field?

Will investor activism change corporate governance and benefit


The Single‐​License Solution

Instead of federal chartering, states should compete with each
other to produce efficient insurance regulation.

Briefly Noted

Final Word