When Americans are asked to rank professions in terms of honesty and ethics, insurance agents routinely end up near the bottom of the list - somewhere between politicians and car salesmen. Generally, insurers are seen as clever hucksters who prey on insecurity and ignorance to sell people what they don't need at prices they shouldn't have to pay.

If private-equity firms are as good at remaking companies as they claim, they don't need tax loopholes to make money.

The U.S. is excellent at importing cheap products from the rest of the world. Let's try importing some human capital instead.

In conditions of uncertainty, humans, like other animals, herd together for protection.

The smartest groups, then, are made up of people with diverse perspectives who are able to stay independent of each other.

Instead of mindlessly tossing billions at or taking billions from the Net as such, investors should be spending their time making sure that it's the future Fords and General Motors of cyberspace that are getting the capital they need.

Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.