Books published by AEI Press

Few realize how bad the federal government's finances are, because most evaluations are based on what happened in the pastnot what is likely to happen in the future.

Two prominent economists comment on the bitter, divisive, and passionate debate on the proper direction of environmental policy.

The authors chronicle changes in U.S. attitudes about health care and consider policy trade-offs and problems of a tax credit/voucher system to finance health insurance.

This book reviews the long history of the corporation and examines the central role of business and economic growth in the strengthening of civil society and democracy.

This book examines the events, policies, and personalities that have shaped our economy for a half century.

Revolutionary changes, including the shrinking of traditional banking and the expansion of trading in foreign securities, have recently rocked financial markets.

rost history tells the story of the past through anecdotes, which do not always present an accurate picture. This work uses social data to narrate what happened to everyday Americans in the 20th century. "Imaginary Trends" such as "do parents spend less time with their children?" are examined.

This primer highlights both the strengths and the limitations of benefit-cost analysis in the development, design, and implementation of regulatory reform.

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The Japanese question presents the spectre of a resurgent nation with immense economic power and a history that prompts concern whether it will again threaten its neighbours. This book describes Japan's strategy in the postwar era of relying on US defence while creating its economic miracle.

A who's who of scholars and friends, along with Irving Kristol's ideas, ideals, and contributions to American life as the nation's leading neoconservative.

This book finds that political and procedural mechanisms needed to ensure settled, investment-backed expectations are upset only after consideration and when a political consensus exists.

The authors review the economic rationales of the Commerce Department's Advanced Technology Program and the criteria for project selection.

This book considers the driving elements behind the benefits and costs of climate protection via Kyoto or similar international agreements that follow.

Examines the troubled state of the US savings and loans industry, this work argues that federal deposit insurance is largely to blame for this situation, by permitting institutions to operate with inadequate capital. The author recommends a restructuring to protect both depositors and taxpayers.

This book provides numerous essays that explore ways to refine the use of tax-burden tables in making tax policy.

Relating the construction of the constitutions of France, Germany, the United States, Yugoslavia, Spain, Egypt, Venezuela and Nigeria, this volume provides analyses of how to put into practice the principles of consitutionalism - political liberty, security of rights and self-government.

This volume examines state regulations for hazard warningsfor foods, drugs, and medical devicesand demonstrates why a federal warnings approach would be preferable.

The author examines the structure of the corporate charter market, the impact of takeover regulation and federal securities law, and the spreading of criminalization of corporate duties.

For more than a quarter of a century, abortion has been a subject of intense controversy. The activists in the pro-life and pro-choice camps both claim to have public opinion on their side. In this monograph, the authors seek to illuminate the complexity of people's views about abortion.

In September 1996, the New Atlantic Initiative convened a panel of three leading economic observers to discuss the EU's efforts to adopt a single currency.

Federal deposit insurance may be "the single most destabilizing influence in the financial system," says economist Charles W. Calomiris in a new study published by AEI. Market discipline provides a better bank safety net than government insurance, he concludes.The Postmodern Bank Safety Net: Lessons from Developed and Developing Economies shows how government deposit insurance subsidizes the risks taken by banks. Weak banks deliberately and sometimes with impunity take on greater risks than they can afford.Undue risk-taking would not be tolerated were private market discipline brought to bear on banks, Calomiris argues. Market discipline would place the regulatory burden on sophisticated market participants with their own money at stake-a bank would survive only if it had investors, and those investors would be willing to risk their money only if they were able to evaluate the bank's risk.Currently, banks that hide loan losses can avoid paying increased deposit insurance costs. At the same time, Calomiris says, government regulators lack strong incentive to determine the true risk characteristics of bank assets-government regulators do not have their own money at stake and they face political pressure to maintain the credit supply.The results can be calamitous. In the 1970s and 1980s the Farm Credit System was increasingly willing to lend against questionable collateral while private banks withdrew from the market as lending risk increased. The system failed, gripping U.S. farmers in a debt crisis. Similarly, the savings and loan failures and the oil-related bank collapses in Texas and Oklahoma of the 19080s can be attributed to the failure of the bank safety net. And Chile, Mexico, and Japan have suffered financial collapses because their governments protected banks from self-inflicted losses.

This work examines the efficiency, fairness, and administrative consequences of leading proposals for income tax reforms in the USA.

This text examines how firms change their investment decisions in response to tax policy and concludes that firms would substantially increase their investment in plant and equipment if some of the proposals for fundamental tax reform are enacted.