Hong Kong is the bellwether. If the Chinese stick to their agreement to let Hong Kong go its own path, then China will also go that way. If they don't, that is a very bad sign. I'm optimistic.

The proper role of government is exactly what John Stuart Mill said in the middle of the 19th century in "On Liberty." The proper role of government is to prevent other people from harming an individual. Government, he said, never has any right to interfere with an individual for that individual's own good.

One man's opportunism is another man's statesmanship.

The euro is going to be a big source of problems, not a source of help.

China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.

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

What does it mean to say that government might have a responsibility? Government can't have a responsibility any more than the business can. The only entities which can have responsibilities are people.