At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment.

American society in recent years has been imitating behavior patterns that have produced negative - and sometimes catastrophic - consequences in many other countries around the world.

Barack Obama has done more than anyone else to promote the dangerous illusion that we can choose whether to have a war or not. But our enemies have already made that choice. Retired Marine Corps General James Mattis said: “No war is over until the enemy says it's over. We may think it's over, we may declare it over, but in fact, the enemy gets a vote“.

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.

The fact that the market is not doing what we wish it would do is no reason to automatically assume that the government would do better.

The America that has flourished for more than two centuries is being quietly but steadily dismantled by the Obama administration.

One of the big differences between Democrats and Republicans is that we at least know what the Democrats stand for, whether we agree with it or not. But, for Republicans, we have to guess