Donald Rumsfeld should not just be impeached. He should be tried as a war criminal. As for Bush, he can be dispatched by the electorate while we are still a democracy.

Not surprisingly, extensive effort in Britain and America goes into finding tax shelter. the system is “efficient” for the shelter industry, not for the economy.

Today, large numbers of citizens throughout the West are angry that the good life is being stolen from them. They are not quite sure whom to be angry at – immigrants, corporations, the government, politically correct liberals, the rich, the poor?

In practice, a good deal of the outcomes produced by the market reflect nothing more than luck – good or bad.

Technological advance often thrives in sheltered and subsidized markets, which defy free trade.

If social security depresses savings rates, it is only because it is unfunded.

When laissez-faire creates instability, the move to a freer market can be something less than pure gain.

As a scholarly discipline, economics has always suffered from physics envy.

It is more than a little ironic that “capital accumulation” once a rather tendentious Marxian view of a supposed capitalist obsession, should have become – of all things – Wall Street’s own slogan.

American critics of welfare statism are often surprised to learn that countries like West Germany, with a much more comprehensive welfare state and a statistically larger public sector, have fewer government employees per capita than the United States does.