In the days when corporate downsizing was all the rage, Wall Street took a lot of flak for judging companies too harshly and setting the bar for corporate performance so high that executives felt their only option was to slash payrolls.

Markets work best when there's lots of information available and a historical track record to go on; they excel at predicting things like horse races, election outcomes, and box-office results. But they're bad at predicting things like who will be the next Supreme Court nominee, as that depends on the whim of the president.

If companies tell us more, insider trading will be worth less.

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.

I do think that procrastination evolved in humans for good reasons. If you're trying to stay alive as a human being on the savanna 20,000 years ago, worrying about what's right behind that bush is a lot more important than worrying about what might happen three weeks from now.

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

A general principle of good taxation is that similar jobs, and similar kinds of compensation, should be taxed the same way: otherwise, the government is effectively subsidizing some jobs over others.