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Why the Left Misunderstands Income Inequality

There is a widely-held notion on the political left that the key economic problem that our civilisation faces is income inequality. To wit: America emerged from the Great Depression and the Second...

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Should the Rich Pay More Taxes?

It’s a multi-dimensional question. The left says yes — income inequality has soared in recent years, and the way to address it (supposedly) is to tax the rich and capital gains at a higher rate. The...

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Can Banking Regulation Prevent Stupidity?

In the wake of J.P. Morgan’s epic speculatory fail a whole lot of commentators are talking about regulation. And yes — this was speculation — if Dimon gets to call these activities “hedging portfolio...

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