I started in business journalism from the outside, so when I started writing about markets and business, I was struck by the fact that markets seemed to work well even though people are often irrational, lack good information and are not perfect in the way they think about decisions.

Under the right circumstances, groups are remarkably smart - smarter even sometimes than the smartest people in them.

The ban on sports betting does exactly what Prohibition did. It makes criminals rich.

Moviegoers love the intricacies of a crime all the more when it's for a good cause.

Tough times have always lent themselves to nativist sentiments and closed-door policies. But in the case of highly skilled immigrants these policies are a recipe for stagnation.

You might think of consumption as a fairly passive activity, but buying new products and services is actually pretty risky, at least if you value your time and money.

In American politics, 'Europe' is usually a code word for 'big government.'