The important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollution does real, measurable damage, especially to human health.

It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.

Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.

There's one thing that the Fed has been really good at cracking down on, and that's inflation.

But where will the Fed find another bubble?

The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.

The United States in particular and the West in general should be feeling a little embarrassed about all that lecturing we did to the Third World.