In Alabama last week, an estimated 900 union reps, politicians, local business owners, and their families rallied to raise awareness of supposed steel import dumping and how it threatens their way of life. They have a point.

One of my favorite economists in the history of economic thought is the great Austrian, Carl Menger (1840-1921).

“Bernanke Enjoys the ‘Fruits of the Free Market,’” or so we’re told in a Reuters headline from March 4 about the former Fed chairman’s 40-minute speech in Abu Dhabi for which he received, ahem, $250,000.