As Bill Clinton acknowledged in 1995, "The era of big government is over." However, society still needs to make investments in huge infrastructure projects like highways, dams, and cultural institutions. When developing these big projects while maintaining a smaller government, the solution is increasingly to turn to "public-private partnerships," to which both government and private enterprise bring their unique advantages. We'll take a look at the implications.

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Today, the United States is the world's sole superpower, with the most powerful economy in the world. However, other large economies, like China and India, are growing at a much faster rate. At the same time, the U.S. appears to be losing its once-unassailable advantage in intellectual resources. Can America compete effectively in this new environment? We'll provide some answers.

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Every technological revolution goes through a series of waves or stages of creative destruction. This is as true for today's computer-based revolution as it was for those based on the steam engine, or the automobile. The global availability of capital is converging with a number of other trends to pave the way for the final and most important phase of the information revolution. We'll examine some of the opportunities and threats this crucial trend will create.

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In the past year, the red-hot housing market has not cooled off, as classical economic theory would anticipate. One big reason is that the global cash surplus has kept U.S. mortgage rates substantially lower than would have been the case if we were simply dealing with a domestic capital market. What does this say for the opportunities and risks that lie ahead? We'll explain.

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Chinese companies are seeking to invest some of their vast hoard of U.S. dollars by buying productive assets. However, this has many Americans worried. Are these concerns justified? We'll examine this trend and its implications.

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The dramatic flow of cash to China, combined with the high savings rates in other developing countries and the historically high corporate profits of multinationals, leads to one inevitable result: a global surplus of cash! We'll explain what this extraordinary imbalance means for your business and your investments.

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