If instead of looking at income, you look at levels of consumption, if anything that's become more equal. The fraction of families that have a dishwasher, that have a sewing machine, that have a television set. In respect to consumption, it's very hard to avoid the view that people have been getting more equal rather than more unequal.

The euro is going to be a big source of problems, not a source of help.

It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.

If you look at the balance sheet, the US is heavily in debt. If you look at the income account - the amount of interest the US pays abroad - it is almost exactly equal to the amount of interest that it receives from abroad. American assets held abroad are earning a higher rate of return than foreign assets held here.

If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies.

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

Legalizing drugs would simultaneously reduce the amount of crime and raise the quality of law enforcement. Can you conceive of any other measure that would accomplish so much to promote law and order?