The Iraq Charade

The headline of an Associated Press report from Tuesday declares, “Gaps Appear to Widen over Iraq within UN Security Council.” The wording is, perhaps unintentionally, precise: the gaps only appear to be widening. The report informs us — to no...

The Truly Dismal Science

In science, you start with a hypothesis. Then you conduct an experiment to see if your hypothesis is true. If the experiment proves the hypothesis wrong, you throw it out and come up with a new hypothesis based on what you’ve learned. I guess economics must not...

Europe vs. America

Things looked so clear in the immediate aftermath of 9/11, when the forces of civilization stood on one side and the barbarians on the other. The very evening after the attack, President Bush announced that “America and our friends and allies join with all those...

Capitalism and Job Safety

What is essential for safety is not bureaucratic regulation, but free, motivated human intelligence and judgment, which includes a consideration of the costs of achieving greater degrees of safety.

Dogs of the Dow

When I heard that President Bush was proposing to eliminate the double taxation of dividends, I immediately exclaimed, “Arf!” I was thinking of the Dogs of the Dow, those high-yielding blue chips that gained notoriety nearly a decade ago. If it becomes...