Studying economics is not a good preparation for dealing with it.

If every rich person gave 50 percent of their wealth to charity, I would not say they should pay more taxes.

The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.

The dark comes before dawn. The financial markets are under great pressure because of the lack of leadership during the transition period.

As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.

Market prices are always wrong.

Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.