[I]f one asks what substantive contributions [F. A. Hayek] made to our understanding of how the world works, one is left at something of a loss. Were it not for his politics, he would be virtually forgotten.

The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.

So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.

The problem with digital books is that you can always find what you are looking for but you need to go to a bookstore to find what you weren't looking for.

As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you weren't looking for.

Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it.

Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.