I've been writing a book called The Economics of Innocent Fraud. I published part of it already in The Progressive ("Free Market Fraud," January 1999). But I've been interrupted these last few months. It deals with all of the things we do, in an innocent way, to cover up the truth.

The questions that are beyond the reach of economics-the beauty, dignity, pleasure and durability of life-may be inconvenient but they are important.

Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.

We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.

Pundits forecast not because they know, but because they are asked.

The urge to consume is fathered by the value system which emphasizes the ability of the society to produce.

Monetary policy suffers from the unfortunate absence of any occult effect. It has long been clear that economic management...would be greatly facilitated if resort could occasionally be had to witchcraft.