I was an advocate of the deregulation movement and I made - along with a lot of other smart people - a fundamental mistake, which is that deregulation works fine in industries which do not pervade the economy. The financial industry undergirded the entire economy and if it is made riskier by deregulation and collapses in widespread bankruptcies as what happened in 2008, the entire economy freezes because it runs on credit.

Fact is often stranger than fiction because most writers of fiction try to make their stories plausible.

I’ve become less conservative since the Republican Party started becoming goofy.

The Constitution has to be interpreted loosely, otherwise it becomes a straitjacket. You can't interpret it literally. You can pretend to, and go digging around in 18th Century dictionaries to figure out what 'cruel and unusual punishment' meant or what the 'right to bear arms' meant, but that is all fake really. The Constitution has to be interpreted in light of modern needs, and that's what they (the strict interpreters) end up doing in spite of all their investigations.

Violent video games played in public places are a tiny fraction of the media violence to which modern American children are exposed. Tiny - and judging from the record of this case, not very violent compared to what is available to children on television and in movie theaters today.

Because reputation lags achievement, we should expect people to reach the zenith of their reputation well past the zenith of their productive output

But Friedman seemed to share Friedrich Hayek's extreme and inaccurate view that socialism of the sort that Britain embraced under the old Labour Party was incompatible with democracy, and I don't think that there is a good theoretical or empirical basis for that view. The Road to Serfdom flunks the test of accuracy of prediction!