A shortage is a sign that somebody is keeping the price artificially lower than it would be if supply and demand were allowed to operate freely.

Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good.

People in the political world have every incentive to say things that lead voters away from a clear economic understanding of issues. What has happened more and more is that organized groups have more and more reasons to say things that don't make any economic sense.

It is precisely those members of Congress who have had the most to do with creating the risks that led to the current economic crisis who are making the most noise against others, and summoning people before their committee to be browbeaten and humiliated on nationwide television.

You need only visit campuses where whole departments feature soft courses preaching a sense of victimhood and resentment, and see the consequences in racial and ethnic polarization on campus.

Everyone may be called "comrade," but some comrades have the power of life and death over other comrades.

In the wake of the housing debacle in California, more people are buying less expensive homes, making bigger down payments, and staying away from 'creative' and risky financing. It is amazing how fast people learn when they are not insulated from the consequences of their decisions.