Of course, presidents are always blamed or rewarded for the state of the economy.

In terms of productivity - that is, how much a worker produces in an hour - there's little difference between the U.S., France, and Germany. But since more people work in America, and since they work so many more hours, Americans create more wealth.

The important thing about groupthink is that it works not so much by censoring dissent as by making dissent seem somehow improbable.

When Americans think of college these days, the first word that often comes to mind is 'debt.' And from 'debt' it's just a short hop to other unpleasant words, like 'payola,' 'kickback,' and 'bribery.'

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.

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

Of course, presidents are always blamed or rewarded for the state of the economy.