Anyone who believes that we can afford collectively what we cannot afford individually is delusional.

Phelps has given us a clear warning of the dangers of corporatism. I hope that more people hear and heed the warning.

Anyone who believes that we can afford collectively what we cannot afford individually is delusional.

After over half a century of employer-provided health care coverage, the American people have developed a phobia of paying for health insurance themselves.

Constitutional provisions are not barriers to government misconduct. At best, they can be speed bumps.

I call this the Fundamental Problem of Political Economy. How do we limit the power that idiots have over us? ... [Milton] Friedmans insight is that a market limits the power that others have over us; conversely, limiting the power that others have over us allows us to have markets. Friedman argued that no matter how wise the officials of government may be, market competition does a better job of protecting us from idiots.

I am worried about climate change. In one respect, I may be more worried than other people. I am worried because I have very little confidence that we know what is causing it....One of my fears is that we could reduce carbon emissions by some drastic amount, only to discover that-oops-it turns out that climate change is being caused by something else.