As summer vacation season began, Americans got out of their cars, driving 12.2 billion fewer miles in June than in the same month a year ago.

A cut in the corporate tax is perhaps the best simple recipe for promoting long-run growth in American living standards.

Adam Smith’s understanding that the invisible hand is often benign but not always has important implications from economic policy to the recent debate about gasoline taxes in particular.

What can Washington do to reduce gas prices in the near term? The short answer, alas, is not much.

As oil futures rose above $122 a barrel, the Energy Department said it expected gasoline prices to peak at a national average of $3.73 a gallon in June.