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.

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.

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

The only way to thrive is to innovate. It's that simple.

Like many works of literature, Hollywood chooses for its villains people who strive for social dominance through the pursuit of wealth, prestige, and power. But the ordinary business of capitalism is much more egalitarian: It's about finding meaning and enjoyment in work and production.

Going to college is neither necessary nor sufficient to be well-educated.

Education is the key to the future: You've heard it a million times, and it's not wrong. Educated people have higher wages and lower unemployment rates, and better-educated countries grow faster and innovate more than other countries. But going to college is not enough. You also have to study the right subjects.