To explain why, let me answer a rhetorical question posed by Professor John Taylor of Stanford University in a recent op-ed article in The Wall Street Journal.

John Taylor, a Stanford University professor and author of the "Taylor Rule" for setting interest rates, argued that the Fed had erred by keeping rates too low for too long.

Jonathan Taylor and Joseph Kalt of Harvard University have shown that the tribes that go in for gambling often began poor, even by Indian standards.