Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.

Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.

What we know about the global financial crisis is that we don't know very much.

Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.

Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes.

Two-thirds of a century after [The Road to Serfdom] got written, hindsight confirms how inaccurate its innuendo about the future turned out to be.

The consumer, so it is said, is the king each is a voter who uses his money as votes to get the things done that he wants done.