If being the biggest company was a guarantee of success, we'd all be using IBM computers and driving GM cars.

Patrimonial capitalism's legacy is that many people see reform as a euphemism for corruption and self-dealing.

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.

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.

Most of the work on multitasking suggests that it generally makes you less efficient, not more.

Discussions of health care in the U.S. usually focus on insurance companies, but, whatever their problems, they're not the main driver of health-care inflation: providers are.

Capitalism, after all, is no fun when real failure becomes a possibility.