Rational thinking is an important aspect of human nature, but we have imagination, we have ambition, we have irrational fear, we are swayed by other people, we get indoctrinated and we get influenced by advertising.

Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.

95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all the technical details, can be explained in plain terms.

Assume the worst about people and you get the worst.

The Korean economic miracle was the result of a clever and pragmatic mixture of market incentives and state direction.

The best way to boost the economy is to redistribute wealth downward, as poorer people tend to spend a higher proportion of their income.

The widely accepted assertion that, only if you let markets be will everyone be paid correctly and thus fairly, according to his worth, is a myth. Only when we part with this myth and grasp the political nature of the market and the collective nature of individual productivity will we be able to build a more just society in which historical legacies and collective actions, and not just individual talents and efforts, are properly taken into account in deciding how to reward people.