When first published, Gruber's Public Finance and Public Policy brought a refreshingly contemporary approach. It was the first text written from the ground up to reflect current realities of public finance, enhancing its survey of traditional topics with an emphasis on empirical work and coverage o[...]
JULY 4, 1976 ENTEBBE, UGANDA - Led by Lieutenant Colonel Yonatan Netanyahu, crack Israeli commandos race from their airplanes covered by the midnight darkness.
Methodically, they approach a non-descript airline terminal, burst inside, killing the stunned terrorists. Helpless and shocked, 103 hos[...]
Many countries have social security systems that are currently financially unsustainable. Economists and policy makers have long studied this problem and identified two key causes. First, as declining birth rates raise the share of older persons in the population, the ratio of retirees to benefits-p[...]
Moral hazard--the tendency to change behavior when the cost of that behavior will be borne by others--is a particularly tricky question when considering health care. Kenneth J. Arrow's seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral[...]