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.

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

George Stigler Nobel laureate and a leader of Chicago School was asked why there were no Nobel Prizes awarded in the other social sciences, sociology, psychology, history, etc. "Don't worry", Stigler said, "they have already have a Nobel Prize in ...Literature"

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

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.

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.