The United Kingdom’s economic deceleration is conventionally attributed to fiscal consolidation, anaemic productivity growth, and the supply-side dislocations that followed Russia’s invasion of Ukraine. These are real constraints. But treating them as primary causes rather than downstream symptoms is a misdiagnosis—and an increasingly costly one.

[Cricket Versus Republicanism and Other Essays by David Stove (Quakers Hill Press. 2013; 166 pp.)]

Many who do not understand markets, the division of labor, production, exchange, and profit—whether willingly or unwillingly—see no justification for unequal wealth and income because inequality can only result from nefarious activity or random luck.

The U.S. national debt now exceeds 100% of gross domestic product, crossing a once-unthinkable threshold, on the way toward breaking the record set in the wake of World War II.

“But the problem is bigger than any single commander in chief. The United States has left itself unprepared for modern war.”