I have heard many these past few days call for the ending of systemic racism in America, but have not heard much discussion as to what it means. If we are to end systemic racism, it would be helpful to first know what it is. The term systemic is strongly related to the word system. To say something is systemic is to say that it arises out of or defines…

Dependence begets subservience and venality, suffocates the germ of virtue, and prepares fit tools for the designs of ambition. Thomas Jefferson, Note on Virginia “Don’t put all of your eggs in one basket.” So the old wife would tells us. The modern economist, who, like the rest of the world, does not have time for the old wife, tells us quite another thing. Adam Smith, the father of capitalism, argues…