Friedrich Hayek is not an important figure in the history of macroeconomics.

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.

A message to progressives: By all means, hang Senator Joe Lieberman in effigy.

I admit it: I had fun watching right-wingers go wild as health reform finally became law.

Economics is not a morality play.

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

I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?