Failure is a big part of a free market's success. People fail to live up to their potential, or to carry out all their good intentions, in all kinds of economic and political systems. Capitalism makes them pay a price for their failures, while socialism, feudalism, fascism and other systems enable personal failures, especially by those at the top, to be ignored.

Money goes out first to pay expenses and then comes back as profits later - if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.

Our economic problems worry me much less than our political solutions, which have a far worse track record.

The sad and tragic fact is that the civil rights movement, despite its honorable and courageous past, has over the years degenerated into a demagogic hustle, promoting the mindless racism they once fought against.

The most politically painless way to hand out goodies, without taking responsibility for their costs, is to pass a law saying that somebody else must provide those goodies at their expense, while the politicians take credit for generosity and compassion.

The black family survived centuries of slavery and generations of Jim Crow, but it has disintegrated in the wake of the liberals' expansion of the welfare state.

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.