When Alexis de Tocqueville wrote of America in the early 19^th century in his classicDemocracy in America, he was comparing America’s democracy to the declining norm in Europe: aristocracy.

President Obama proposed to give tax incentives to small businesses to hire more people. This sounds like a generally good idea, unless you happen to have any practical experience which  is sorely lacking in this administration.

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In A Short History of Financial Euphoria(1993), J. K. Galbraith takes a brief look at financial bubbles and draws conclusion about the similarities among them. The most remarkable of the early manias was not in stocks, but in tulip bulbs. The value of mere tulips grew to the modern equivalent of $25,000 to as much as $50,000 during the Tulip Mania that swept the Netherlands in the 1630s.

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