Nothing has done more to render modern economic theory a sterile and irrelevant exercise in autoeroticism than its practitioners’ obsession with mathematical, general-equilibrium models.

Nothing has done more to render modern economic theory a sterile and irrelevant exercise in autoeroticism than its practitioners’ obsession with mathematical, general-equilibrium models.

The legacy of the New Del was, more than anything else, a matter of ideological change. Henceforth, nearly everyone would look to the federal government for solutions to problems great and small, real and imagined, personal as well as social.

By adopting programs to distribute substantial amounts of income, a nation guarantees that its government will become more powerful and invasive in other ways.

Inflation is not a benign element in the economy's operation. It is, as it has always been, the most dangerous and destructive form of taxation.

Intervene globally, lose freedom locally.

It would take little more than $50 billion to raise every poor person above the official poverty line, yet the percentage of the population classified as poor hardly budges, while annual welfare spending amounts to four times that much. Where's the money going?