Financial abuses-money laundering, tax evasion, and rogue banking-have been around for as long as there have been finances to abuse. But globalization is creating new challenges as borders dissolve. New technologies enable tiny, remote countries to make quick money through their underregulated banking systems. Recent multilateral initiatives have started to attack the problem. But if the Bush administration fails to follow through on reforms, the entire effort could fall apart

Alaskan politicians have used every oil-price rise since 1973 to push for drilling beneath the Arctic National Wildlife Refuge But even putting environmental questions aside, refuge oil is unnecessary, insecure, economically risky, and a distraction from the real energy debate. Market solutions that enhance efficiency can provide secure, safe, and clean energy services at much lower cost

The Missile Defense Debate The Bush administration claims national missile defense can protect the United States from long-range missiles fired by rogue states. But that threat is trivial, and Washington's unilateralist approach to missile defense will only anger China and Russia while alienating U. S. allies