95% of Economics is common sense deliberately made complicated.

There is no such thing as a free market.

Financial markets need to become less, not more, efficient.

The washing machine changed the world more than the Internet.

Equality of opportunity is not enough. Unless we create an environment where everyone is guaranteed some minimum capabilities through some guarantee of minimum income, education, and healthcare, we cannot say that we have fair competition. When some people have to run a 100 metre race with sandbags on their legs, the fact that no one is allowed to have a head start does not make the race fair. Equality of opportunity is absolutely necessary but not sufficient in building a genuinely fair and efficient society.

In manufacturing, where mechanization and the use of chemical processes are much easier, it is easier to raise productivity than in services. In contrast, by their very nature, many service activities are inherently impervious to productivity increase without diluting the quality of the product.

To paraphrase Winston Churchill, capitalism is the worst economic system except for all the other forms.