The power to do good is also the power to do harm.

The Internet moves us closer to "perfect information" on markets. Individuals and companies alike can buy and sell across borders and jurisdictions wherever they find the best match of supply and demand.

So long as large sums of money are involved - and they are bound to be if drugs are illegal - it is literally impossible to stop the traffic, or even to make a serious reduction in its scope.

What most people really object to when they object to a free market is that it is so hard for them to shape it to their own will. The market gives people what the people want instead of what other people think they ought to want. At the bottom of many criticisms of the market economy is really lack of belief in freedom itself.

Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.

The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system.

What's the difference? How can people be so inconsistent? Why is it that free immigration was a good thing before 1914 and free immigration is a bad thing today? Well, there is a sense in which that answer is right. There's a sense in which free immigration, in the same sense as we had it before 1914 is not possible today. Why not?