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

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.

By default, we have created a "system" of nursing-home care for the aged in which middle-class people pay exorbitant rates to for-profit nursing-home entrepreneurs - and then when private resources are consumed and the patient qualifies as a pauper, the nursing home begins billing Medicaid. This is precisely the antithesis of social citizenship; instead of the poor being accorded the dignity associated with the middle class, equality of treatment is achieved by making the middle class undergo pauperization.

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

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?

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