There is only a certain amount of wealth in the world, this thinking goes. Economics is a matter of acquiring and allocating, not creating. This was the view of the world’s smartest people, all top...

Growing economies are built by billions of actors behaving according to their own interests, coordinated through institutions that no one in particular created.Realizing this requires humility, a trait that is in short supply among would-be...

There is not the slightest analogy between playing games and the conduct of business within a market society. The card player wins money by outsmarting his antagonist. The businessman makes money by supplying customers with...