The Freeman recently published an excellent article on so-called insider trading: “ Inside Insider Trading ,” by Warren C. Gibson . Aptly enough, the article is illustrated with a picture of Martha Stewart—who was not prosecuted for insider trading.

Nevertheless, I say the illustration is apt because the prosecutors and media did everything they could to make people believe that insider trading was the charge against Stewart, even though it wasn’t. Likewise, prosecutors and the media try to make people believe that insider trading is wrong—even though it isn’t.

My thanks to Patrick T. Peterson for calling my attention to this article.

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