Corporations do not pay taxes, they collect them, passing the burden to consumers as a cost of production. And corporate taxation is a feast of rent-seeking - a cornucopia of credits, exemptions and other subsidies conferred by the political class on favored, and grateful, corporations.

The euro pleases dispirited people for whom European history is not Chartres and Shakespeare but the Holocaust and the Somme. The euro expresses cultural despair.

In the lexicon of the political class, the word 'sacrifice' means that the citizens are supposed to mail even more of their income to Washington so that the political class will not have to sacrifice the pleasure of spending it.

It was over in a blink of an eye, that moment when aviation stirred the modern imagination. Aviation was transformed from recklessness to routine in Lindbergh's lifetime. Today the riskiest part of air travel is the drive to the airport, and the airlines use a barrage of stimuli to protect passengers from ennui.

Only in football is long-term injury the result not of accidents but of the game played properly.

There is no reason to think today's levels of [drug] addiction are anywhere near the levels that would be reached under legalization.

Obama, startled that components of government behave as interest groups, seems utterly unfamiliar with public choice theory. It demystifies and de-romanticizes politics by applying economic analysis - how incentives influence behavior - to government.