Individual price and wage changes will not be prevented. In the main, price changes will simply be concealed by taking the form of changes in discounts, service, and quality, and wage changes, in overtime, perquisites and so on…. But to whatever extent the freeze is enforced, it will do harm by distorting relative prices.

I do not believe there is a natural resource economics. I believe there is good economics and bad economics.

The invisible hand in politics operates in the opposite direction to the invisible hand in the market.

When something goes wrong, the natural tendency is to say, "By God, we need to pass a law and do something."

I say thank God for government waste. If government is doing bad things, it's only the waste that prevents the harm from being greater.

Is it really true that political self-interest is nobler somehow than economic self-interest?

You can only make money if you buy a product, whatever it is - maybe a currency, maybe wheat and maybe something else - at a relatively low price and sell it at a higher price than you buy it at. There's no other way to make money.