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?

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

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.

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"

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.

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