How debt helps to discipline public spending. Financial markets put a brake on ill-considered government projects, even when taxpayers don’t. By Dino Falaschetti.

The mortgage crisis is a burst bubble, a failure of intelligence, and a rich psychological case study. What to do about it? Perhaps nothing. By Richard A. Posner.

The market will do a much better job of regulating Microsoft than government ever would. By F. Scott Kieff.