We must recognise that in an integrated world, trade cannot be divorced from other concerns. We need to promote free trade and serious global efforts with respect to common problems even as we support every nation's right to chart its own course.

It says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets.

Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.

Investment in girls' education may well be the highest-return investment available in the developing world.

What's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy.

All taxes discourage something. Why not discourage bad things like pollution rather than good things like working?

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.