The long-range sloution to high unemployment is to increase the incentive for ordinary people to save, invest, work, and employ others. We make it costly for employers to employ people; we subsidize people not to go to work We have a system that increasingly taxes work and subsidizes nonwork.

Socialism, in the traditional sense, meant government ownership and operation of the means of production. Outside of North Korea and a couple of other spots, no one in the world today would define socialism that way. That will never come back.

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

The argument for the free market is a complicated and sophisticated one and depends on demonstration of secondary effects. I have confidence market efficiency will win out.

Hell hath no fury like a bureaucrat scorned.

If China don't free up the political side, its economic growth will come to an end - while it is still at a very low level.

The stock market and economy are two different things.