The vision of the left, full of envy and resentment, takes its worst toll on those at the bottom - whether black or white - who find in that paranoid vision an excuse for counterproductive and ultimately self-destructive attitudes and behavior.

No individual and no generation has had enough personal experience to ignore the vast experience of the human race that is called history. Yet most of our schools and colleges today pay little attention to history. And many of our current policies repeat mistakes that were made, time and again, in the past with disastrous results.

Too much of what is called 'education' is little more than an expensive isolation from reality.

There is usually only a limited amount of damage that can be done by dull or stupid people. For creating a truly monumental disaster, you need people with high IQs.

What the political left, even in democratic countries, share is the notion that knowledgeable and virtuous people like themselves have both a right and a duty to use the power of government to impose their superior knowledge and virtue on others.

However little president Obama knows or cares about economics, he knows a lot about politics - and especially political rhetoric. 'High-speed rail' is simply another set of loft words to justify continued expansion of government spending. So are words like 'investment in education' or 'investment' in any number of other things, which serves the same political purpose.

Most intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'.