The availability of private insurance provides tremendous insulation for millions of individuals

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

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

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.

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.

Spread the truth-the laws of economics are like the laws of engineering. One set of laws works everywhere.

If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.