Not surprisingly, extensive effort in Britain and America goes into finding tax shelter. the system is "efficient" for the shelter industry, not for the economy.

It is more than a little ironic that "capital accumulation" once a rather tendentious Marxian view of a supposed capitalist obsession, should have become - of all things - Wall Street's own slogan.

Donald Rumsfeld should not just be impeached. He should be tried as a war criminal. As for Bush, he can be dispatched by the electorate while we are still a democracy.

Technological advance often thrives in sheltered and subsidized markets, which defy free trade.

In a world where technology and capital are highly transferable, there is a real risk that comparative advantage comes to be defined as whose labor force will work for the lowest wage.

American critics of welfare statism are often surprised to learn that countries like West Germany, with a much more comprehensive welfare state and a statistically larger public sector, have fewer government employees per capita than the United States does.

Technological change is beneficial only when other jobs replace the ones lost.