The idea that we should be open to all ideas is very different from the supposition that all ideas are equally valid.

I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to it.

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

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 United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness.

It certainly was difficult to sell NAFTA because it's always difficult to sell open markets.