 Mercatus is an unusual combination of providing an academic environment for PhD students and faculty at George Mason, and then also providing, as they like to say, a bridge to the world of policymaking. Hi, I'm Larry White. I'm professor of economics at George Mason University and a senior fellow in the FA Hayek program for philosophy, politics, and economics at the Mercatus Center. It's hard to identify another institution very similar to Mercatus. Mercatus is an unusual combination of providing an academic environment for PhD students and faculty at George Mason, and then also providing, as they like to say, a bridge to the world of policymaking. And so not only does Mercatus support academic research, but also encourages researchers and graduate students to think about real world applications of what they're doing and they've enabled me, helped me to give congressional testimony on current issues, which is not something that other institutions I'm associated with do. I like to think that in 40 years Mercatus will still be supporting academic research in the economics department at George Mason, and will be continuing and maybe even expanding the outreach programs they've been conducting in recent years like the Adam Smith Fellowship Program, bringing in graduate students from all over the country in a variety of fields. Because a lot of the best interaction, a lot of the best feedback you can get is to meet with people to whom all the economic ways of thinking are not second nature and who question at a very fundamental level things that you take for granted. But Mercatus has changed a lot in 40 years, grown a lot, and so it's hard to say what all will be encompassed by Mercatus in 40 years from now.