Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that create the wants.

Economics is extremely useful as a form of employment for economists.

It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.

One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.

The enemy of the conventional wisdom is not ideas but the march of events.

Superficial observers have long criticized the United States for making a fetish of youth. This is unfair. Uniquely among modern organs of public and private administration, its national legislature rewards senility.

I feel very angry when I think of brilliant, or even interesting, women whose minds are wasted on a home. Better have an affair. It isn't permanent and you keep your job.