Britain, with the most completely socialized health system in the West, now spends the lowest fraction of GNP on health care of any major nation. There are frequent complaints of excessive waits for elective surgery and other inconveniences, but British citizens live slightly longer than Americans, on average, and our overall health conditions are comparable.

George Stigler Nobel laureate and a leader of Chicago School was asked why there were no Nobel Prizes awarded in the other social sciences, sociology, psychology, history, etc. "Don't worry", Stigler said, "they have already have a Nobel Prize in ...Literature"

Technological change is beneficial only when other jobs replace the ones lost.

When laissez-faire creates instability, the move to a freer market can be something less than pure gain.

Though editorialists at The New York Times and The Washington Post still don't get it, most Democrats in Congress finally do: Today's trade disputes are no longer mostly about tariffs, quotas, or free entry of goods. They are about the ground rules for capitalism. Are there to be only property rights? What about the other rights that liberal democracies have fought for since the 1880s?

Henry Ford, in a sense, was the first Keynesian. He paid his assembly workers high wages so they could afford to buy his cars.

But of course you can have your cake and eat it, too - if you decide to to bake a second cake. And you may well find that baking two cakes does not take twice the work of baking one.