Forbes contributors publish independent expert analyses and insights. I apply economic insights to improve regulations and their effects. Joseph Schumpeter is having a heyday. In 1942, he coined the ...

What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still others, rapacity. Considering that capitalism may have begun as early as the 16 th century, in ...

The Nobel Memorial Prize in Economic Sciences was awarded Monday to Joel Mokyr of Northwestern University; Philippe Aghion of Collège de France, INSEAD and the London School of Economics; and Peter ...