Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they're likely to increase prices, since they've learned that if they don't, and inflation hits, their businesses will be wrecked.

Corporate welfare isn't necessarily a bad thing.

Wall Street has come a long way from the insider-dominated world that was blown apart by the Great Depression.

I tend to have a hard time working on pieces long before they're due. That's why I think the fact that I write a column is really good for me - the column has to be done, and there's no getting around it.

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

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

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.