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If we can make the correct diagnosis, the healing can begin. If we can't, both our personal health and our economy are doomed.

Discussions of the economy, especially during times of crisis, are often framed in terms of lessons we supposedly learned during the Depression of the 1930s. If we are not to endure terrible times like those again, we are told, we must support whatever form of state intervention is currently being peddled.

Economic issues are a subset of social justice. Social justice is unimaginable without economic justice. Isn't that obvious?

From the ashes of a financial crash, there is a chance to create a new economic settlement that is more equal, sustainable and democratic.

If government wishes to see a depression ended as quickly as possible and the economy returned to normal prosperity, what course should it adopt? The first and clearest injunction is: Don't interfere with the market's adjustment process.

One of the profound effects of economics in our day is that the people with the money and the power have embraced the guilt-free, external-less, everything-will-turn-out-okay-in-the-end philosophy of economics in order to justify their own evil works. And the economists, for the most part, have sucked up to that money.

But economic recovery must be earned. And it will be earned by entrepreneurs and it will be earned by small businesses.

No society has been able to abolish human sadness, no political system can deliver us from the pain of living, from our fear of death, our thirst for the absolute. It is the human condition that directs the social condition, not vice versa.

The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.

Unemployment, foreclosures, bankruptcy - the cure is not more government spending, but helping businesses create jobs.