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.

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

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.

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

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.

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.

But of course you can have your cake and eat it, too - if you decide to to bake a second cake. And you may well find that baking two cakes does not take twice the work of baking one.