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.

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.

Most investors want to do today what they should have done yesterday.

With uncertainty in oil markets, a buildup of speculative pressures and the large U.S. current account deficit, there is a real possibility that Paulson's crisis-management skills will be tested.

A good rule of thumb for many things in life holds that things take longer to happen than you think they will, and then happen faster than you thought they could.

Where countries have been able to carry through on their reform commitments - as in Korea, Thailand and the Philippines - results are starting to come in the form of lower interest rates, new investment and increased growth.

It was wrong to allow Stalin to shape the European landscape of the 20th century. It would be even more wrong to let him shape the landscape of the 21st century