Workers who come to the U.S. see their wages and their standard of living boosted sharply simply by crossing the border. That's a good thing, and one of the best arguments for immigration reform, even if you'll rarely hear a politician make it.

What the investment community does like is short-term measures designed to boost share prices.

The desire for reinvention seems to arise most often when companies hear the siren call of synergy and start to expand beyond their core businesses.

Sometimes even a smart crowd will make a mistake.

The typical American corporation is a shareholders' republic the same way that China is a peoples' republic.

Unlike fuel-economy standards, the most common method of reducing demand for oil over the past thirty years, a gas tax doesn't tell people what kind of car to drive. It simply raises the price of gasoline and lets people adjust their behavior accordingly.

The reason advertising is governed by fear, after all, is that most agencies rely on just a few clients to bring in the lion's share of their revenues.