Rather than increase efficiency and profitability, corporate managers look for easy ways to increase their salaries through leveraged buyouts. And central banks have a key role in making this easier and more common.

The data does not show that government taxes and regulation have been responsible for declines in smoking. At the same time, government approved cigarettes may be more dangerous than black market cigarettes.

Given the loose standards and high default rates that plague the student loan machine, the federal government might as well just be handing out credit cards so everyone can buy more stuff with subsidized loans.