Preface to the Transaction Edition Preface to the Second Edition Preface Part 1. The Misallocation of Effort 1 On Work 2 Cheap Labor 3 Education Today 4 An Application: Begging for Poverty 5 Cheap Capital 6 Subsidies as Far as the Eye Can See 7 Where Are the Economic Assets for Tomorrow? Part 2. Credit, Inflation, and the Crash of 2008 8 Trust, Risk, and Regulation 9 Thoughts on Money Supply and Inflation: Money Ssupply, the Extra "S" Is for Extra Supply 10 More on Money Supply: The Last Two Years 11 Crash and Aftermath: The Crash of 2008 12 The Cost of Living and Inflation Reconsidered 13 Fallacies in the Measurement of Inflation 14 Money, Gold, and Inflation Part 3. Proposals and Reforms 15 A Proposal on Tax Policy 16 Redefining Shares: A Plan to Return Corporate Control to the Owners 17 Unemployment and Blame 18 Do Not Confuse Effort Expended with Results Obtained Part 4. Implications for Securities and Capital Markets 19 Risk Management in the Wholesale Power Market: The California Energy Crisis 20 Two Essays on Financial and Commodity Markets Index