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.

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

Henry Ford, in a sense, was the first Keynesian. He paid his assembly workers high wages so they could afford to buy his cars.

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

What do you call an economist with a prediction? Wrong.

For over a century, popular struggles in the democracies have used the nation-state to temper raw capitalism. The power of voters has offset the power of capital. But as national barriers have come down in the name of freer commerce, so has the capacity of governments to manage capitalism in a broad public interest. So the real issue is not "trade" but democratic governance.

If Boeing got a big head start on the 707 from multibillion-dollar military contracts to develop an air force transport, is that a sin against free trade?