I argued last year on my shared blog that selling the right to immigrate would be the best approach to legal immigration. Among other benefits, the revenue from immigrants' payments could reduce taxes. Paying for the right to immigrate would also negate the argument that immigrants get a free ride when they gain health care and other benefits. Moreover, making immigrants pay would attract the type of immigrants who came much earlier in American history: young men and women who are reasonably skilled and want to make a long-term commitment to the United States.

I am saying that the economic approach provides a valuable unified framework for understanding all human behaviour

Still, intuitive assumptions about behavior is only the starting point of systematic analysis, for alone they do not yield many interesting implications.

Economy is the art of making the most of life.

Fines are preferable to imprisonment and other types of punishment because they are more efficient. With a fine, the punishment to offenders is also revenue to the State.

My work on human capital began with an effort to calculate both private and social rates of return to men, women, blacks, and other groups from investments in different levels of education.

The most fundamental constraint is limited time