Economics Is Not A Morality Play.

When Stock Prices Are Rising, It's Called ''momentum Investing''; When They Are Falling, It's Called ''panic.''

It Has Been Obvious All Along, To Anyone Paying Attention, That The Politicians Shouting Loudest About Deficits Are Actually Using Deficit Hysteria As A Cover Story For Their Real Agenda, Which Is Top-down Class Warfare. To Put It In Romneyesque Terms, It's All About Finding An Excuse To Slash Programs That Help People Who Like To Watch Nascar Events, Even While Lavishing Tax Cuts On People Who Like To Own Nascar Teams.

Europe Is Often Held Up As A Cautionary Tale, A Demonstration That If You Try To Make The Economy Less Brutal, To Take Better Care Of Your Fellow Citizens When They're Down On Their Luck, You End Up Killing Economic Progress. But What European Experience Actually Demonstrates Is The Opposite: Social Justice And Progress Can Go Hand In Hand.

It's A Funny Thing, By The Way, How People Who Love Free Markets Are Also Quite Sure That They Know That Investors Are Being Irrational.

Friedrich Hayek Is Not An Important Figure In The History Of Macroeconomics.