Willem H. Thorbecke is Associate Professor of Economics at George Mason University and a Research Associate at the Locke Institute. He received his Ph.D. from the University of California at Berkeley. His articles have appeared in journals such as the Journal of Finance, the Journal of Economic Perspectives, and Public Choice. His research interests include macroeconomics, finance, and international economics. While a graduate student he spent one year at the Cowles Foundation at Yale University. He has also had one year visiting positions at the Jerome Levy Economics Institute and the Social Security Administration.