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

A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.

Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.

The fall of the Berlin Wall did more for the progress of freedom than all of the books written by myself or Friedrich Hayek or others.

Because it is one thing to have free immigration to jobs. It is another thing to have free immigration to welfare. And you cannot have both. If you have a welfare state, if you have a state in which every resident is promises a certain minimal level of income, or a minimum level of subsistence, regardless of whether he works or not, produces it or not. Then it really is an impossible thing.

We have a system that increasingly taxes work and subsidizes nonwork.

Economists may not know much. But we know one thing very well: how to produce surpluses and shortages. Do you want a surplus? Have the government legislate a minimum price that is above the price that would otherwise prevail. That is what we have done at one time or another to produce surpluses of wheat, of sugar, of butter, of many other commodities. Do you want a shortage? Have the government legislate a maximum price that is below the price that would otherwise prevail.