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Though technology and innovation have squeezed trading costs, the industry's profits are accounting for a bigger share of U.S. GDP, a former Goldman banker says, needlessly diverting some $635 bln from the broader economy. It lends credence to ideas like a transaction tax.

Political scientists who study Congress, like the scholar Douglas Arnold, have long argued that while money matters in politics, legislators ultimately tend to be responsive to their constituents.

Dylan Matthews posted a fascinating interview with law professor Barak Orbach yesterday, which goes a long way toward explaining the current withered state of antitrust law.

All of Washington seems to agree that tax loopholes should be closed. Yet, as a practical matter, closing some of the biggest loopholes is no easy thing because of their importance to individuals and the economy as a whole. Take a meat cleaver to the home mortgage interest deduction and you hurt a

Access to a post-secondary education is a vital aspect of the American dream, allowing for equality of opportunity and a stable pathway to the middle class for all who are willing to work for it regardless of their background or socioeconomic status.  Higher education not only improves the prospects

Joblessness imposes steep costs on millions of unemployed workers and their families, requiring households to continue meeting basic expenses without their former income.

Once upon a time, a few decades ago, members of the U.S. Senate spent a fair amount of time together and got to know each other personally. They were more likely to stick around Washington on the weekends, and during breaks, and socialized together more often with their families. Once upon a time

What would you do if you were laid off from a job? While you looked for a new position, you’d likely cut expenses as much as possible and begin drawing on any savings you have to pay the bills you can’t avoid. As time went on, you might turn to family, friends, and community institutions for

Last year, in the midst of the holiday season, I pointed out that 90 percent of households have at least one unused item lying around and 70 percent have unused electronic items. It makes more fiscal and environmental sense to just not buy something, rather than buy it and not use it. Beyond that

The Center for Responsive Politics compiles data on the 50 top interest groups giving money to Congress. Near the top of the 2012 list are the usual suspects—finance, insurance, real estate, and Big Oil. Near the bottom are casinos and the building materials industry (along with "Women's Issues.")