By Rand Paul
Obama acts as though we no longer have a Constitution
A new book by Ronald Coase, age 101, is an event in itself. Mr. Coase, the 1991 Nobel laureate in economics, revolutionized the field by challenging conventional wisdom regarding the nature of business firms and how so-called public goods can be provided. One of his main contributions is the concept of "transaction costs," which are the costs individuals incur in making an economic exchange.
In an address to his supporters in Roanoke, Va., President Obama revisited Elizabeth Warren's reasoning for higher taxes on the wealthy. Like the Harvard law professor who is running for the U.S. Senate in Massachusetts, the president stated, "If you've been successful, you didn't get there on your own..."
