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.

If social security depresses savings rates, it is only because it is unfunded.

Though editorialists at The New York Times and The Washington Post still don't get it, most Democrats in Congress finally do: Today's trade disputes are no longer mostly about tariffs, quotas, or free entry of goods. They are about the ground rules for capitalism. Are there to be only property rights? What about the other rights that liberal democracies have fought for since the 1880s?

In practice, a good deal of the outcomes produced by the market reflect nothing more than luck - good or bad.

As a scholarly discipline, economics has always suffered from physics envy.

The economic illusion is the belief that social justice is bad for economic growth.

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.