Capitalists work hard to produce what consumers want. Artists who work too hard to produce what consumers want are often accused of selling out. Thus, even the languages of capitalism and art conflict: a firm that has 'sold out' has succeeded, but an artist that has 'sold out' has failed.

As far as wages are concerned, the only difference between immigration and birth is that birth takes longer.

Our obsessive focus on college schooling has blinded us to basic truths. College is a place, not a magic formula. It matters what subjects students study, and subsidies should focus on the subjects that matter the most - not to the students, but to everyone else.

It would be really great if I discovered a cure for cancer, but it would only be a little bit less great if my neighbor did. So I am pretty happy when my neighbor becomes wealthier, better educated and more innovative. I feel the same about China and India.

Patents are like fertilizer. Applied wisely and sparingly, they can increase growth. But if you apply too many chemicals, or make patents too strong, then you can leach the land, making growth more difficult.

Democracy is an experimental system. I like it when states try out new ideas. I think we ought to expand, not contract, our federalist system.

What we tell students in formal schooling: “Sit down, stay quiet, and absorb. Do this for 12 to 16 years and all will be well.