George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, "So here I am losing weight and gaining pounds.

The argument for collectivism is simple; free market is not.

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.

Pick at random any three letters from the alphabet, put them in any order, and you will have an acronym designating a federal agency we can do without.

The benefits of a tariff are visible. Union workers can see they are "protected". The harm which a tariff does is invisible. It's spread widely. There are people that don't have jobs because of tariffs but they don't know it.

You must distinguish sharply between being pro free enterprise and being pro business.

You can travel from one end of the industrialized world to the other and almost the only people you will find engaging in backbreaking toil are people who are doing it for sport. To find people whose day's toil has not been lightened by mechanical invention, you must go to the non-capitalist world.