There is an important distinction between good deflation caused by excess supply and bad deflation created by deficient demand. (Illustration by Stephen Cheetham | Column by A Gary Shilling)

Deflation is a peacetime phenomenon. (Illustration by Stephen Cheetham | Column by A Gary Shilling)

Before Beyonce, the greatest Super Bowl halftime show was Up With People, a singing quasi-cult of closeted gay youths. (Illustration by Flatbush Brown | Column by Jonathan Mahler)  

The current “risk-on” investment environment may collapse (Illustration by Ellie Andrews | Column by A. Gary Shilling) 

In today’s markets, investors’ zeal for yield and disregard for risk favors the junkiest of the junk. (Illustration by Ellie Andrews | Column by A. Gary Shilling) 

Part 2: The dollar thrives in the age of competitive devaluations. (Illustration by Ellie Andrews | Column by A. Gary Shilling) 

Manti Te’o joined Notre Dame’s long tradition of hooey (Illustration by Andy Rementer | Column by Jonathan Mahler) 

Can Obama’s second term unleash the power of his first? (Illustration by Saiman Chow | Column by Ezra Klein) 

Now that we know Lance Armstrong doped, it’s time to move past the sanctimony and outrage and proceed with a more sensible conversation about drugs and sports. (Illustration by Paul Windle | Column by Jonathan Mahler)

Criminals are made, not born. Want to fight crime? Address economic inequality. (Illustration by Tim Lahan | Column by Mark Buchanan)

Angry at the NRA? That won’t reduce gun violence. (Illustration by Dan Stafford | Column by Stephen L. Carter) 

So many myths and misunderstandings about gun control, from all sides of the debate, and so little time! (Illustration by Kyle Platts | Column by Jeffrey Goldberg)

With no digital records to measure patient progress and guide doctors on best practices, it’s not surprising that cost and quality of care have varied wildly, not only across the U.S. but even within a single hospital. (Illustration by Neil Donnelly | Column by Peter Orszag)

There are three types of contagion in a financial crisis, when the potential collapse of a firm, bank or country threatens to spiral out of control. The European Union today has all three. (Illustration by: Oliver Munday | Column by Simon Johnson)

The idea that the Supreme Court is too pro-business is rapidly becoming the central liberal critique of the institution. (Illustration by Matthew Hollister | Column by Ramesh Ponnuru)