The free market is not only a more efficient decision maker than even the wisest central planning body, but even more important, the free market keeps economic power widely dispersed.

I think almost every economist would agree that government gets itself in trouble when it tries to interfere with voluntary behavior.

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

I think that the Internet is going to be one of the major forces for reducing the role of government.

If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premiums on resourcefulness and effort and not penalty on idleness or vice, it would produce only an equality of destitution.

Personal freedom has grown greatly within China, and that will provoke ever more points of conflict between the individual and state.

Positive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an "objective" science.