I happened upon Cato's new "Unbound" webzine, and an article by Nobel-winning economist James Buchanan.

He repeated a line that I've heard so many times, and each time I hear or read it, I shrug.

"Ideas have consequences."

Well, now, perhaps that's so, on some metaphysical, "think good thoughts" sort of level. On a more worldly plane, however, that "truism" makes no sense. Ideas surely CAN have consequences. I'm pleased, for instance, that some of my worst ideas had no consequence, except perhaps on me! Some of my BEST ideas also are of no consequence.

I don't believe it's a stretch to say that this applies to everyone.

It seems far more important that ideas be true, well articulated, developed, and then put into action. Otherwise, they remain -- for the most part -- inconsequential.

-Robert Capozzi