As a scholarly discipline, economics has always suffered from physics envy..

By default, we have created a "system" of nursing-home care for the aged in which middle-class people pay exorbitant rates to for-profit nursing-home….

Though editorialists at The New York Times and The Washington Post still don't get it, most Democrats in Congress finally do: Today's trade disputes ….

It is more than a little ironic that "capital accumulation" once a rather tendentious Marxian view of a supposed capitalist obsession, should have be….

What do you call an economist with a prediction? Wrong..

Not surprisingly, extensive effort in Britain and America goes into finding tax shelter. the system is "efficient" for the shelter industry, not for ….

But of course you can have your cake and eat it, too - if you decide to to bake a second cake. And you may well find that baking two cakes does not t….

We are already well down the road toward a managed-trade regime. It would be far better to acknowledge that reality, and seek a set of reasonable rul….

Britain, with the most completely socialized health system in the West, now spends the lowest fraction of GNP on health care of any major nation. The….

If social security depresses savings rates, it is only because it is unfunded..

If Boeing got a big head start on the 707 from multibillion-dollar military contracts to develop an air force transport, is that a sin against free t….

George Stigler Nobel laureate and a leader of Chicago School was asked why there were no Nobel Prizes awarded in the other social sciences, sociology….

American critics of welfare statism are often surprised to learn that countries like West Germany, with a much more comprehensive welfare state and a….

Donald Rumsfeld should not just be impeached. He should be tried as a war criminal. As for Bush, he can be dispatched by the electorate while we are ….

Both rich and poor nations have a common stake in policies that put the globe on a sustainable development path. The conflict is less between poor an….

In a world where technology and capital are highly transferable, there is a real risk that comparative advantage comes to be defined as whose labor f….

Technological change is beneficial only when other jobs replace the ones lost..

For over a century, popular struggles in the democracies have used the nation-state to temper raw capitalism. The power of voters has offset the powe….

Henry Ford, in a sense, was the first Keynesian. He paid his assembly workers high wages so they could afford to buy his cars..

Technological advance often thrives in sheltered and subsidized markets, which defy free trade..

Despite its scientific pretensions, economics still remains more of an art than a science.