So who is winning? Schumpeter or Galbraith? An introduction to an excecllent essay on the subject.

What an idea: we see the baying for a windfall tax on the oil companies: but farmers too are making massive profits so where is the call for the tax upon them?

What is old is new again: At least one of Adam Smith's truths was known in the Babylonian Talmud.

Netsmith thinks it was Somerset Maugham who said that training to be a doctor was an excellent preparation for being a writer. A certain Dr. Paula Gosling demonstrates that well here.

News just in! Changes in prices do lead to changes in behaviour!

This banning of booze on the tube: not very liberal, is it?

And finally, news from the American election cycle.

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