Quotes of the day

Whether General Motors was truly done in by its worker benefits is debatable, as Mark Thoma points out. But if making extravagant commitments on pensions and health care can get you in trouble, I can think of an organization a lot bigger than General Motors to worry about.--Arnold Kling

... anyone living in a wealthy society owes their prosperity at least as much to the wealthy society as they do to their own skill and hard work--and if you doubt this is true, I suggest you go try to deploy your rugged individualist talents in Zimbabwe.--Megan McArdle