Lawrence B. Lindsey

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Japan's Prime Minister Shinzo Abe waves as he arrives to attend the Enniskillen G8 summit, at Belfast International Airport, Northern Ireland, June 16, 2013.

Prime Minister Shinzo Abe is attempting an aggressive reform program in order to revitalize the Japanese economy. Can he succeed? We believe he can, but only if he aims his “third arrow” of structural reform at the right target.

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Japan's Prime Minister Shinzo Abe has a go at cropping tea leaves in Kitsuki, Oita prefecture, in this photo taken by Kyodo May 18, 2013. Abe said a recent tranche of Japan's growth strategy will aim to triple infrastructure exports and double farm exports by 2020, as well as boost private investment.

Mr. Abe’s “Three Arrows” program consists of renewed fiscal stimulus, aggressive monetary easing and significant structural reform. We believe he will succeed—if he aims his “third arrow,” structural reform, at Japan’s capital allocation and corporate governance practices.

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JPMorgan Chase & Co. chairman and CEO Jamie Dimon receives the 'Executive of the Year' award before speaking at Simon Graduate School of Business at the University of Rochester's New York City Conference on May 3, 2012.

Losing money is embarrassing. And an embarrassed Jamie Dimon publicly admitted that J.P. Morgan Chase goofed. Three senior executives lost their jobs as a result. But politicians and regulators in Washington are rushing to leverage the bank’s misfortune for their own gain.

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One of the country's largest long-haul fleets powered by renewable energy resides at Fair Oaks Farms in Fair Oaks, Ind., Aug. 19, 2011. The fuel savings of a natural gas powered truck suggests a return on the capital investment of nearly 80 percent over 15 months.

There can be an appropriate place for government subsidies to influence the choice of vehicle fuel technology. But such choices should be subject to rigorous cost benefit analysis with a high threshold for approval.

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Dissecting the Real Problem of Deflation

Quantitative easing won’t solve our deeper problem of slow growth and will probably be part of Fed policy for quite some time.

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Did the Stimulus Stimulate?

The fiscal stimulus was both so expensive and so badly flawed that it was rendered ineffective; a recent paper that vindicates the plan fails to measure the number of people who found work and the effectiveness with which the Obama stimulus created jobs.

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Option B defines a problem as being too serious to ignore and thereby requiring resources, yet commits fewer resources than would guarantee success.

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America's Lesson for the NHS

Both America and Britain are going to have to change the way they provide health care–but through evolution, not sudden or drastic reform.

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Tax Cut Compromise Conference Call

The maze of tax credits that are typically available to low-income individuals under the tax code needs simplifying.

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Working Papers logo 80

Replacing all of the seven different tax credits allowed under the current tax code with a simple policy holds significant promise.

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