If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one's conceptions and what one does about them. Life can be seen as a fertile fallacy.

The US needs a cap and trade system with auctioning of licenses for emissions rights. The revenues from these auctions can be used to launch a new, environmentally friendly energy policy. That would be yet another federal program that could help us to overcome the stagnation.

The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).

Any central bank should only be in charge of liquidity. Solvency is a matter for the treasury.

Democracy, by its very nature, can't be imposed on people. Democracy has to be the people deciding for themselves.

The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.